Basic earnings per share is computed by dividing net income attributable to the Company by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share is computed by adjusting the net income available to the Company and the weighted average shares outstanding to give effect to potentially dilutive securities. Shares of Class B common stock are not entitled to receive any distributions or dividends and are therefore excluded from this presentation since they are not participating securities.

Earnings per share is presented for the three months ended March 31, 2026 and for the period from after the IPO, January 16, 2025, to March 31, 2025. Prior to the IPO the membership structure consisted of Common Units and Class A Units. Flowco Holdings’ current capital structure is not reflective of the capital structure of Flowco LLC prior to the IPO and the Transactions. Therefore, earnings per share for the three months ended March 31, 2025, has been calculated based solely on the post-IPO period, as earnings per share is not meaningful for the period from January 1, 2025 to January 15, 2025, due to the different capital structure.

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted net income per share of Class A common stock for the periods following the Transactions:


(in thousands, except share and per share data)	Three Months Ended March 31,
	2026		2025
Numerator:
Net income attributable to Flowco Holdings, Basic	$	7,442	$	6,172
Add: Net income impact from assumed redemption of all LLC Interests to common stock		—		—
Less: Income tax expense on net income attributable to NCI at 22.2%		—		—
Net income attributable to Flowco Holdings, Diluted	$	7,442	$	6,172

Denominator:
Weighted average shares of common stock outstanding, Basic		31,620,520		25,721,620
Dilutive effects of:
LLC Interests that are exchangeable to common stock		—		—
Unvested RSUs and PRSUs		1,098,862		465,644
Weighted average shares of common stock outstanding, Diluted		32,719,382		26,187,264

Basic earnings per share	$	0.24	$	0.24
Diluted earnings per share	$	0.23	$	0.24

The Company did not add back the net income attributable to the redeemable non-controlling interests above due to the antidilutive impact to the diluted earnings per share calculation. Accordingly, the weighted average common shares outstanding in the diluted computation per share also excludes the inclusion of all outstanding LLC Interests assumed to be redeemed and exchanged with the shares of Class A common stock rather than cash-settle.

For the three months ended March 31, 2026 and for the period from January 16, 2025, to March 31, 2025, the impact of LLC Interests assumed to be redeemed in exchange for the issuance of Class A common stock was antidilutive and has been properly excluded from the computation of diluted earnings per share under the if-converted method. The impact of unvested RSUs was dilutive and has been included using the treasury stock method for the three months ended March 31, 2026 and for the period from January 16, 2025, to March 31, 2025.