Earnings Per Share

9 Months Ended

Sep. 30, 2025

The following table summarizes earnings (loss) per share calculations:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Basic earnings per common share
Net income (loss) attributable to Quaker Chemical Corporation	$	30,469	$	32,346	$	(23,189)	$	102,458
Less: (income) loss allocated to participating securities	(30)		(85)		44		(359)
Net income (loss) available to common shareholders	$	30,439	$	32,261	$	(23,145)	$	102,099
Basic weighted average common shares outstanding	17,363,947		17,837,858		17,524,377		17,889,168
Basic earnings (loss) per common share	$	1.75	$	1.81	$	(1.32)	$	5.71

Diluted earnings per common share
Net income (loss) attributable to Quaker Chemical Corporation	$	30,469	$	32,346	$	(23,189)	$	102,458
Less: (income) loss allocated to participating securities	(30)		(85)		44		(358)
Net income (loss) available to common shareholders	$	30,439	$	32,261	$	(23,145)	$	102,100
Basic weighted average common shares outstanding	17,363,947		17,837,858		17,524,377		17,889,168
Effect of dilutive securities	57,143		26,477		21,289		20,799
Diluted weighted average common shares outstanding	17,421,090		17,864,335		17,545,666		17,909,967
Diluted earnings (loss) per common share	$	1.75	$	1.81	$	(1.32)	$	5.70

Certain stock options, restricted stock units, and PSUs are not included in the diluted earnings per share calculation when the effect would be anti-dilutive. The number of anti-dilutive shares were 27,037 and 41,854, respectively, for the three and nine months ended September 30, 2025, compared to 19,374 and 31,377, respectively, for the three and nine months ended September 30, 2024