Company: SDHC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049591
Chunk: 47

Company: Smith Douglas Homes Corp.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 and diluted earnings per share of common stock have been computed as follows (in thousands, except share and per share amounts): Three months endedSeptember 30,Nine months endedSeptember 30, 2025Period from January 11, 2024 to September 30, 2024 20252024Numerator:Net income attributable to Smith Douglas Homes Corp., Basic$2,126 $5,347 $7,174 $11,965 Add: Net income impact from assumed redemption of all LLC Interests to common stock— 32,477 — 72,239 Less: Income tax expense on net income attributable to NCI— (7,949)— (17,492)Add: Dilutive impact of unvested RSUs8 — 32 — Net income attributable to Smith Douglas Homes Corp., after adjustment for assumed redemption, Diluted$2,134 $29,875 $7,206 $66,712  Denominator:Weighted average shares of common stock outstanding, Basic9,017,3988,846,1548,994,8108,846,154Dilutive effects of:LLC Interests that are exchangeable for common stock—42,435,897042,435,897Unvested RSUs38,966251,356197,672220,362Weighted average shares of common stock outstanding, Diluted9,056,36451,533,4079,192,48251,502,413 Basic earnings per share$0.24 $0.60 $0.80 $1.35 Diluted earnings per share$0.24 $0.58 $0.78 $1.30 

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For the period from January 11, 2024 to September 30, 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 entity. The weighted average common shares outstanding in the diluted computation per share assumes all outstanding LLC Interests are redeemed and the Company elects to issue Class A shares of common stock upon redemption rather than cash-settle. The dilutive impact of LLC Interests assumed to be redeemed in exchange for the issuance of Class A common stock was included in the computation of diluted earnings per share under the if-