Company: SDHC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001982518-25-000020
Chunk: 42

Company: Smith Douglas Homes Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 is computed by dividing net income attributable to Smith Douglas Homes Corp. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share is computed by adjusting the net income available to Smith Douglas Homes Corp. and the weighted average shares outstanding to give effect to potentially dilutive securities. Shares of Class B common stock are not entitled to receive any distributions or dividends and are therefore excluded from this presentation since they are not participating securities.All earnings prior to January 11, 2024, the date of the IPO, were entirely allocable to the non-controlling interests and, as a result, earnings per share information is not applicable for reporting periods prior to this date. Consequently, only earnings per share for net income for periods subsequent to January 10, 2024 are presented.

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Basic and diluted earnings per share of common stock have been computed as follows (in thousands, except share and per share amounts):  For thethree months ended March 31, 2025For the period fromJanuary 11, 2024 toMarch 31, 2024Numerator:  Net income attributable to Smith Douglas Homes Corp., Basic$2,683 $2,972 Add: Net income impact from assumed redemption of all LLC Interests to common stock— 18,674 Less: Income tax expense on net income attributable to NCI— (4,661)Add: Dilutive impact of unvested RSUs41 — Net income attributable to Smith Douglas Homes Corp., after adjustment for assumed redemption, Diluted$2,724 $16,985    Denominator:  Weighted average shares of common stock outstanding, Basic8,966,7348,846,154Dilutive effects of:  LLC Interests that are exchangeable for common stock—42,435,897Unvested RSUs166,529128,346Weighted average shares of common stock outstanding, Diluted9,133,26351,410,397   Basic earnings per share$0.30 $0.34 Diluted earnings per share$0.30 $0.33 For the period from January 11, 2024 to March 31, 2024, net income attributable to the non-controlling interests added back to net income in the fully dilutive computation has been adjusted for income taxes which would have been expensed had the income been recognized by Smith Douglas Homes Corp., a taxable