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Earnings per Share
6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Earnings per Share

8.

Earnings per Share

The computational components of basic and diluted earnings per share for the three-month periods ended June 30, are below.

 

 

 

2021

 

 

2020

 

(table only in thousands)

Numerator (for basic and diluted earnings per share)

 

 

 

 

 

 

 

 

Net income attributable to CECO Environmental Corp.

 

$

293

 

 

$

3,258

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

Basic weighted-average shares outstanding

 

 

35,492

 

 

 

35,276

 

Common stock equivalents arising from stock options and restricted stock awards

 

 

327

 

 

 

134

 

Diluted weighted-average shares outstanding

 

 

35,819

 

 

 

35,410

 

 

The computational components of basic and diluted earnings per share for the six-month periods ended June 30, are below.

 

 

 

2021

 

 

2020

 

(table only in thousands)

Numerator (for basic and diluted earnings per share)

 

 

 

 

 

 

 

 

Net income attributable to CECO Environmental Corp.

 

$

1,474

 

 

$

6,670

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

Basic weighted-average shares outstanding

 

 

35,444

 

 

 

35,216

 

Common stock equivalents arising from stock options and restricted stock awards

 

 

353

 

 

 

187

 

Diluted weighted-average shares outstanding

 

 

35,797

 

 

 

35,403

 

 

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 June 30, 2021 and 2020, 1.9 million and 0.6 million, respectively, and during the six-month periods ended June 30, 2021 and 2020, 1.7 million and 0.5 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.