Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.23.1
Earnings Per Share
3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the three months ended March 31, 2023 and 2022:
Three Months Ended March 31,
2023 2022
(dollars in thousands, except share and per share amounts)
Numerator
Net income attributable to Landsea Homes Corporation $ 3,218  $ 13,065 
Less: undistributed earnings allocated to participating shares —  (289)
Net income attributable to common stockholders $ 3,218  $ 12,776 
Denominator
Weighted average common shares outstanding - basic 39,997,699  46,347,369 
Adjustment for weighted average participating shares outstanding —  (1,000,000)
Adjusted weighted average common shares outstanding under two class method - basic 39,997,699  45,347,369 
Dilutive effect of warrants —  — 
Dilutive effect of share-based awards 119,174  161,187 
Adjusted weighted average common shares outstanding under two class method - diluted 40,116,873  45,508,556 
Earnings per share
Basic $ 0.08  $ 0.28 
Diluted $ 0.08  $ 0.28 
The Company excluded 2.4 million common stock equivalents from diluted EPS related to antidilutive warrants, options, and share-based awards during the three months ended March 31, 2023. The Company excluded 7.1 million common stock equivalents from diluted EPS during the three months ended March 31, 2022