EARNINGS (LOSS) PER SHARE

9 Months Ended

Sep. 28, 2024

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

(6) EARNINGS (LOSS) PER SHARE

The following table provides a reconciliation between the net earnings (loss) attributable to Valmont Industries, Inc. and weighted average share amounts used to compute both basic and diluted earnings (loss) per share:

	Thirteen weeks ended				Thirty-nine weeks ended
	September 28,		September 30,		September 28,		September 30,
	2024		2023		2024		2023
Net earnings (loss) attributable to Valmont Industries, Inc.	$	83,068	$	(49,028)	$	270,606	$	114,888
Weighted average shares outstanding (in thousands):
Basic		20,092		20,951		20,152		21,083
Dilutive effect of various stock awards		142		—		131		207
Diluted		20,234		20,951		20,283		21,290
Net earnings (loss) attributable to Valmont Industries, Inc. per share:
Basic	$	4.13	$	(2.34)	$	13.43	$	5.45
Dilutive effect of various stock awards		(0.02)		—		(0.09)		(0.05)
Diluted	$	4.11	$	(2.34)	$	13.34	$	5.40

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 28, 2024 and September 30, 2023, there were 22,600 and 42,774 outstanding stock options with exercise prices exceeding the average market price of common stock during the applicable period excluded from the computation of diluted earnings (loss) per share, respectively.