Alpha Metallurgical Resources Inc
For the period ended Jun 30, 2024. Filed Aug 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 5, 2024
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(4) Net Income Per Share
The number of shares used to calculate basic net income per common share is based on the weighted average number of the Company’s outstanding common shares during the respective period. The number of shares used to calculate diluted net income per common share is based on the number of common shares used to calculate basic net income per common share plus the effect of potentially dilutive securities outstanding during the period, which is determined by the application of the treasury stock method.
When applying the treasury stock method, anti-dilution generally occurs when the exercise prices or unrecognized compensation cost per share are higher than the Company’s average stock price during an applicable period. For the three and six months ended June 30, 2024,26,573 and 13,287 securities, respectively, were excluded from the computation of dilutive net income per common share because they would have been anti-dilutive. For the three and six months ended June 30, 2023,7,441 and 3,721 securities, respectively, were excluded from the computation of dilutive net income per common share because they would have been anti-dilutive.
The following table presents the net income per common share for the three and six months ended June 30, 2024 and 2023:
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Basic | ||||
| Net income | $58,909 | $181,355 | $185,904 | $452,126 |
| Weighted average common shares outstanding - basic | 13,013,684 | 14,362,072 | 13,007,905 | 14,814,099 |
| Net income per common share - basic | $4.53 | $12.63 | $14.29 | $30.52 |
| Diluted | ||||
| Weighted average common shares outstanding - basic | 13,013,684 | 14,362,072 | 13,007,905 | 14,814,099 |
| Dilutive effect of warrants | — | 135,436 | — | 146,870 |
| Dilutive effect of stock options | — | 1,933 | — | 1,966 |
| Dilutive effect of other stock-based instruments | 97,326 | 411,192 | 165,898 | 448,059 |
| Weighted average common shares outstanding - diluted | 13,111,010 | 14,910,633 | 13,173,803 | 15,410,994 |
| Net income per common share - diluted | $4.49 | $12.16 | $14.11 | $29.34 |
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