Ecovyst, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Earnings per Share

Earnings per Share

6 Months Ended

Jun. 30, 2025

19. Earnings per Share:

Basic earnings per share is calculated as income available to common stockholders, divided by the weighted average number of common shares outstanding during the period. The weighted average number of common shares outstanding during the period for the computation of basic earnings per share excludes RSAs that have legally been issued but are nonvested during the period, as the sale of these shares is prohibited pending satisfaction of certain vesting conditions by the award recipients in order to earn the rights to the shares.

Diluted earnings per share is calculated as income available to common stockholders, divided by the weighted average number of common and potential common shares outstanding during the period, if dilutive. Potential common shares reflect (1) unvested RSAs and RSUs with service vesting conditions, (2) PSUs with vesting conditions considered probable of achievement and (3) options to purchase common stock, all of which have been included in the diluted earnings per share calculation using the treasury stock method.

The reconciliation from basic to diluted weighted average shares outstanding is as follows:


	Three months ended June 30,		Six months ended June 30,
	2025	2024	2025	2024
Weighted average shares outstanding – Basic	116,232,528	116,912,332	116,745,476	116,935,708
Dilutive effect of unvested common shares and RSUs with service conditions, PSUs considered probable of vesting and assumed stock option exercises and conversions	302,532	722,957	298,985	609,532
Weighted average shares outstanding – Diluted	116,535,060	117,635,289	117,044,461	117,545,240

Basic and diluted income per share are calculated as follows:


	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
Numerator:
Net income	$	5,986	$	8,295	$	2,389	$	9,516

Denominator:
Weighted average shares outstanding – Basic	116,232,528		116,912,332		116,745,476		116,935,708
Weighted average shares outstanding – Diluted	116,535,060		117,635,289		117,044,461		117,545,240

Net income per share:
Basic income per share	$	0.05	$	0.07	$	0.02	$	0.08
Diluted income per share	$	0.05	$	0.07	$	0.02	$	0.08

The table below presents the details of the Company’s weighted average equity-based awards outstanding during each respective period that were excluded from the calculation of diluted earnings per share:


	Three months ended June 30,		Six months ended June 30,
	2025	2024	2025	2024


Anti-dilutive RSUs and PSUs	1,535,776	431,837	1,158,741	481,281
Anti-dilutive stock options	367,100	367,100	367,100	367,100

Certain stock options to purchase shares of common stock were excluded from the computation of diluted earnings per share for the respective periods because the options’ exercise price was greater than the average market price of the common shares. These stock options and anti-dilutive awards are not included in the dilution calculation, as their inclusion would have the effect of increasing diluted income per share.