Earnings Per Common Share

9 Months Ended

Jun. 25, 2023

EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per common share:


	Three months ended		Nine months ended
(Thousands of Dollars and Shares, Except Per Share Data)	June 25, 2023	June 26, 2022	June 25, 2023	June 26, 2022

Income (loss) attributable to Lee Enterprises, Incorporated:	1,503	(269)	(3,283)	5,113
Weighted average common shares	6,051	5,965	6,045	5,935
Less weighted average restricted Common Stock	(173)	(170)	(172)	(168)
Basic average common shares	5,878	5,795	5,873	5,767
Dilutive stock options and restricted Common Stock	30	—	—	93
Diluted average common shares	5,908	5,795	5,873	5,860
Earnings per common share:
Basic	0.26	(0.05)	(0.56)	0.89
Diluted	0.25	(0.05)	(0.56)	0.87

For the three months ended June 25, 2023, 136,853 shares were excluded in the computation of diluted earnings per common share because their inclusion would result in an anti-dilutive effect on per share amounts. For the three months ended June 26, 2022, no shares were considered in the computation of diluted earnings per common share because the Company recorded net losses. For the nine months ended June 25, 2023, no shares were considered in the computation of diluted earnings per common share because the Company recorded net losses. For the nine months ended June 25, 2022, 74,804 shares were excluded in the computation of diluted earnings per common share because their inclusion would result in an anti-dilutive effect on per share amounts.