Earnings Per Share

6 Months Ended

Jun. 30, 2025

4. Earnings per Share

Earnings per share (“EPS”) are computed using the weighted average number of shares of capital stock outstanding. Earnings and diluted earnings per share are computed as follows (in thousands, except per share data):


			Net Income
For the Three Months Ended June 30,		Income		Shares	Earnings per Share
2025
	Earnings	$	52,493	14,591	$	3.60
	Dilutive stock options		-	84
	Nonvested stock awards		-	28
	Diluted earnings	$	52,493	14,703	$	3.57

2024
	Earnings	$	70,887	15,097	$	4.70
	Dilutive stock options		-	108
	Nonvested stock awards		-	46
	Diluted earnings	$	70,887	15,251	$	4.65


			Net Income
For the Six Months Ended June 30,		Income		Shares	Earnings per Share
2025
	Earnings	$	124,250	14,606	$	8.51
	Dilutive stock options		-	88
	Nonvested stock awards		-	39
	Diluted earnings	$	124,250	14,733	$	8.43

2024
	Earnings	$	135,904	15,109	$	8.99
	Dilutive stock options		-	135
	Nonvested stock awards		-	51
	Diluted earnings	$	135,904	15,295	$	8.89

For the three and six months ended June 30, 2025, there were 336,000 stock options excluded from the computation of dilutive earnings per share because they would have been anti-dilutive.

For the three and six months ended June 30, 2024, there were 310,000 stock options excluded from the computation of dilutive earnings per share because they would have been anti-dilutive.