Earnings Per Share

6 Months Ended

Jun. 30, 2025

Basic earnings per share (“basic EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect to all dilutive potential shares.

The following tables set forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2025 and 2024:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024

Net income	$	21,421	$	29,976	$	27,457	$	49,685

Basic weighted average shares outstanding	30,949		30,813		31,011		30,792

Stock compensation	105		293		131		378





Diluted weighted average shares outstanding	31,054		31,106		31,142		31,170

Net income (per share)
Basic	$	0.69	$	0.97	$	0.89	$	1.61
Diluted	0.69		0.96		0.88		1.59

The shares used in the calculation of diluted EPS exclude stock options and stock appreciation rights to purchase shares where the exercise price was greater than the average market price of common shares for the period and the effect of the inclusion would be anti-dilutive. Such shares aggregated approximately 4.1 million and 3.9 million for the three and six months ended June 30, 2025, respectively, and 3.4 million and 2.7 million for the three and six months ended June 30, 2024, respectively.