Earnings per Share and Stock Repurchase Program

6 Months Ended

Jun. 29, 2025

Earnings per Share and Stock Repurchase Program

Earnings per Share and Stock Repurchase Program

7. Earnings per Share and Stock Repurchase Program

The following table sets forth the reconciliation of the calculation of earnings per share:


		For the Second Quarter Ended June 29, 2025								For the Second Quarter Ended June 30, 2024
		Income			Shares		Per Share			Income			Shares		Per Share
		(Numerator)			(Denominator)		Amount			(Numerator)			(Denominator)		Amount

		(Amounts in millions, except per share information)
Basic EPS:
Net income		$	100.9		33.5		$	3.01		$	82.0		33.5		$	2.44
Effect of dilutive securities:
Common stock equivalents					—			—					—			—
Diluted EPS:
Net income		$	100.9		33.5		$	3.01		$	82.0		33.5		$	2.44


		For the Six Months Ended June 29, 2025								For the Six Months Ended June 30, 2024
		Income			Shares		Per Share			Income			Shares		Per Share
		(Numerator)			(Denominator)		Amount			(Numerator)			(Denominator)		Amount

		(Amounts in millions, except per share information)
Basic EPS:
Net income		$	174.9		33.5		$	5.22		$	154.5		33.5		$	4.61
Effect of dilutive securities:
Common stock equivalents					—			—					—			—
Diluted EPS:
Net income		$	174.9		33.5		$	5.22		$	154.5		33.5		$	4.61

On July 31, 2023, the Company’s Board of Directors authorized the repurchase of up to $150 million of the Company’s Class A common stock, to be purchased from time to time on the open market or in privately negotiated transactions. The Company has entered into a Rule 10b5-1 plan, which permits shares to be repurchased under the Company’s stock repurchase program when the Company might otherwise be precluded from doing so under insider trading laws. The repurchase program may be suspended or discontinued at any time, subject to the terms of the Rule 10b5-1 plan the Company entered into with respect to the repurchase program. As of June 29, 2025, there was approximately $137.0 million remaining authorized for share repurchases under the repurchase program.

For the second quarters ended June 29, 2025 and June 30, 2024, the Company repurchased 18,019 shares for $4.0 million and 20,262 shares for $4.1 million, respectively. For the six months ended June 29, 2025 and June 30, 2024, the Company repurchased 36,770 shares for $7.9 million and 40,012 shares for $8.1 million, respectively.