Earnings Per Share

9 Months Ended

Sep. 30, 2025

NOTE 12 – EARNINGS PER SHARE

Earnings per share (“EPS”), including the dilutive effect of stock awards for each period reported is summarized below:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands, except per share data)	2025		2024		2025		2024
Net Income	$	23,766	$	32,679	$	74,278	$	85,607

Weighted-average number of basic shares outstanding during the period		18,432		18,760		18,447		18,752
Dilutive effect of stock awards		94		150		95		163
Weighted-average number of diluted shares outstanding during the period		18,526		18,910		18,542		18,915

Basic EPS	$	1.29	$	1.74	$	4.03	$	4.57
Diluted EPS	$	1.28	$	1.73	$	4.01	$	4.53

There were 60,168 and 4,193 of potentially dilutive shares of restricted stock awards that were excluded from the calculation of weighted-average diluted share computations for the three and nine months ended September 30, 2025, respectively, because they were anti-dilutive. There were 324 and 190 potentially dilutive shares of restricted stock awards excluded for the three and nine months ended September 30, 2024, respectively, because they were anti-dilutive.

ICF International, Inc. 10-Q