EARNINGS (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

(7) EARNINGS (LOSS) PER SHARE

The following table provides a reconciliation of the earnings (loss) and average share amounts used to compute both basic and diluted earnings (loss) per share:

	Thirteen weeks ended				Thirty-nine weeks ended
	September 30,		September 24,		September 30,		September 24,
	2023		2022		2023		2022
Net earnings (loss) attributable to Valmont Industries, Inc.	$	(49,028)	$	72,112	$	114,888	$	210,531
Weighted average shares outstanding (000's):
Basic		20,951		21,332		21,083		21,308
Dilutive effect of various stock awards		—		273		207		238
Diluted		20,951		21,605		21,290		21,546
Earnings (loss) per share:
Basic	$	(2.34)	$	3.38	$	5.45	$	9.88
Dilutive effect of various stock awards		—		(0.04)		(0.05)		(0.11)
Diluted	$	(2.34)	$	3.34	$	5.40	$	9.77

In the third quarter of fiscal 2023, the Company reported a net loss. In periods in which the Company recognizes a net loss, the Company excludes the impact of outstanding stock awards from the diluted loss per share calculation, as its inclusion would have an anti-dilutive effect.

As of September 30, 2023, there were 42,774 outstanding stock options with exercise prices exceeding the market price of common stock that were excluded from the computation of diluted earnings per share. As of September 24, 2022, there were no outstanding stock options with exercise prices exceeding the market price of common stock that were excluded from the computation of diluted earnings per share.