Earnings per Share

3 Months Ended

Mar. 31, 2022

8. Earnings per Share

The computational components of basic and diluted earnings per share for the three-month periods ended March 31, are below.


	2022		2021
(table only in thousands) Numerator (for basic and diluted earnings per share)
Net income attributable to CECO Environmental Corp.	$	2,792	$	1,181

Denominator
Basic weighted-average shares outstanding		35,051		35,397
Common stock equivalents arising from stock options and restricted stock awards		148		377
Diluted weighted-average shares outstanding		35,199		35,774

Options and restricted stock units included in the computation of diluted earnings per share are calculated using the treasury stock method. For the three-month periods ended March 31, 2022 and 2021, 2.1 million and 1.5 million, respectively, of outstanding options and restricted stock units were excluded from the computation of diluted earnings per share due to their having an anti-dilutive effect.

Once a restricted stock unit vests, it is included in the computation of weighted average shares outstanding for purposes of basic and diluted earnings per share.