Earnings Per Share

9 Months Ended

Sep. 30, 2024

Basic earnings or loss per share is computed by dividing net income or loss attributable to MasTec by the weighted average number of common shares outstanding for the period, which excludes non-participating unvested restricted share awards. Diluted earnings per share is computed by dividing net income attributable to MasTec by the weighted average number of fully diluted shares, as calculated primarily under the treasury stock method, which includes the potential effect of dilutive common stock equivalents, such as issued but unvested restricted shares.

The following table provides details underlying the Company’s earnings per share calculations for the periods indicated (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Net income (loss) attributable to MasTec:
Net income (loss) - basic and diluted	$	95,240	$	14,296	$	88,048	$	(50,702)


Weighted average shares outstanding:
Weighted average shares outstanding - basic	78,044		77,640		78,004		77,418
Dilutive common stock equivalents (a)	869		815		797		—
Weighted average shares outstanding - diluted	78,913		78,455		78,801		77,418

(a)For the three month period ended September 30, 2024, anti-dilutive common stock equivalents totaled approximately 3,000 shares, and for the three month period ended September 30, 2023, there were no anti-dilutive common stock equivalents. For the nine month periods ended September 30, 2024 and 2023, such shares totaled approximately 171,000 and 1,091,000, respectively.