Earnings Per Share

9 Months Ended

Sep. 30, 2026

Due to the impact of the Reorganization Transactions, the Company’s capital structure for the period prior to the IPO is not comparable. As a result, the presentation of earnings per share for the periods prior to such transactions is not meaningful and only earnings per share for the period subsequent to the IPO is presented herein.

The Company computes earnings per share (“EPS”) of Class A common stock. Basic EPS is computed by dividing net income attributable to common stockholders by the weighted average number of shares of Class A common stock outstanding. The Company’s Class B common stock and RSUs are nonparticipating securities because holders are not entitled to dividends or dividend equivalent payments.

For the calculation of diluted EPS, net income attributable to common stockholders for basic EPS is adjusted by the effect of dilutive securities. Diluted EPS attributable to common stockholders is computed by dividing the resulting net income attributable to common stockholders by the weighted-average number of common stock outstanding, adjusted to give effect to dilutive elements including RSUs and convertible Class X Umbrella Units and LTIP Units to the extent these are dilutive.

The following table presents the calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2026 (in thousands, except share and per share amounts):


	Three Months Ended September 30, 2026		Nine Months Ended September 30, 2026
Numerator:
Net income	$	67,968	$	75,612
Net income attributable to noncontrolling interest	76,949		85,107
Net loss attributable to Andersen Group Inc. stockholders, basic and diluted	$	(8,981)	$	(9,495)

Denominator:
Weighted average number of shares of Class A common stock outstanding, basic and diluted	16,215,709		14,055,314

Earnings per share:
Earnings per share attributable to Class A common stockholders, basic and diluted	$	(0.55)	$	(0.68)

The Company’s Class X Umbrella Units, RSUs and LTIP Units were excluded from the computation of diluted earnings per share because their inclusion would have been antidilutive. As of September 30, 2026, 92,735,875 Class X Umbrella Units, 5,011,219 RSUs and 1,610,168 LTIP Units with a potentially dilutive impact were outstanding.