Earnings per Share ("EPS")

3 Months Ended

Dec. 31, 2023

Earnings per Share (“EPS”)

Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding, less unvested restricted stock for the period. Diluted EPS is computed by dividing net income by the weighted-average number of common shares outstanding and dilutive potential common shares for the period. Potential common shares include the weighted-average dilutive effects of outstanding stock options and unvested restricted stock using the treasury stock method.

The following table presents the number of weighted-average shares used to compute basic and diluted EPS (in thousands, except per share data):


	Three Months Ended
	December 31, 2023		January 1, 2023

Net income attributable to Tetra Tech	$	74,972	$	116,706

Weighted-average common shares outstanding – basic	53,317		53,069
Effect of dilutive stock options and unvested restricted stock	421		460
Weighted-average common shares outstanding – diluted	53,738		53,529

Earnings per share attributable to Tetra Tech:
Basic	$	1.41	$	2.20
Diluted	$	1.40	$	2.18

For the first quarters of fiscal 2024 and 2023, no options were excluded from the calculation of dilutive potential common shares. The Convertible Notes described in Note 14 "Long-Term Debt", had no impact on the calculation of dilutive potential common shares in the first quarter of fiscal 2024, as the price of our common stock did not exceed the conversion price. The Capped Call Transactions were excluded from the calculation of dilutive potential common shares as their effect is anti-dilutive.