Orion Group Holdings Inc Earnings Per Share Disclosure
12.Earnings Per Share
The following table reconciles the denominators used in the computations of both basic and diluted earnings per share:
Year ended December 31, | |||||
2025 | | 2024 | | 2023 | |
Total basic weighted average shares outstanding | 39,627,400 |
| 34,783,256 |
| 32,346,992 |
Effect of potentially dilutive securities: | |
| |
| |
Common stock options | 11,850 |
| — |
| — |
Employee stock purchase plan | — | ||||
Total diluted weighted average shares outstanding | 39,639,250 |
| 34,783,256 |
| 32,346,992 |
For the years ended December 31, 2025, 2024 and 2023, the Company had 48,686, 177,395, and 250,264, securities, respectively, that were potentially dilutive in earnings per share calculations. Such dilution is dependent on the excess of the market price of our stock over the exercise price and other components of the treasury stock method. The exercise price for certain stock options awarded by the Company exceeded the average market price of the Company’s common stock for the years ended December 31, 2025, 2024 and 2023. Such stock options are antidilutive and are not included in the computation of earnings per share for those periods. Due to the Company reporting a net loss fiscal 2024 and 2023, all potentially dilutive securities are antidilutive and are excluded from the computations of diluted loss per share.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 4, 2026 | Showing above |
| 2024 | Mar 6, 2025 | |
| 2023 | Mar 1, 2024 | |
| 2022 | Mar 16, 2023 | |
| 2021 | Mar 7, 2022 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.