v3.25.2
Earnings (Loss) Per Share
 6 Months Ended
Jun. 28, 2025
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Earnings (Loss) Per Share
The Company calculates basic and diluted earnings (loss) per share using the two-class method. The following table sets forth the computation of basic and diluted earnings per share attributable to common shareholders:
Three Months EndedSix Months Ended
(in thousands, except per share amounts)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Basic earnings (loss) per share:
Net income from continuing operations$11,809 $37,217 $29,299 $48,769 
Less: Net income attributable to participating securities, continuing operations91 787 371 1,033 
Net income after participating securities, continuing operations11,718 36,430 28,928 47,736 
Net income (loss) from discontinued operations, net of tax35,755 (7,058)23,771 (14,349)
Less: Net income (loss) attributable to participating securities, discontinued operations274 (149)301 (304)
Net income (loss) after participating securities, discontinued operations35,481 (6,909)23,470 (14,045)
Weighted-average common shares outstanding162,833 159,795 161,701 159,713 
Continuing operations0.07 0.22 0.18 0.30 
Discontinued operations0.22 (0.04)0.15 (0.09)
Net basic earnings per share$0.29 $0.18 $0.33 $0.21 
Three Months EndedSix Months Ended
(in thousands, except per share amounts)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Diluted earnings (loss) per share:
Net income from continuing operations$11,809 $37,217 $29,299 $48,769 
Less: Net income attributable to participating securities, continuing operations27 148 68 195 
Net income after participating securities, continuing operations11,782 37,069 29,231 48,574 
Net income (loss) from discontinued operations, net of tax35,755 (7,058)23,771 (14,349)
Less: Net income (loss) attributable to participating securities, discontinued operations83 (28)55 (57)
Net income (loss) after participating securities, discontinued operations35,672 (7,030)23,716 (14,292)
Weighted-average common shares outstanding162,833 159,795 161,701 159,713 
Dilutive effect of share-based awards 1,317 970 1,283 970 
Weighted-average common shares outstanding, as adjusted164,150 160,765 162,984 160,683 
Continuing operations0.07 0.22 0.18 0.30 
Discontinued operations0.22 (0.04)0.15 (0.09)
Net diluted earnings per share$0.29 $0.18 $0.33 $0.21 
Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the period. In addition, the Company’s participating securities are related to certain restricted stock awards issued to Section 16 officers, which include non-forfeitable dividend rights.
The Company has performance awards that are contingent on performance conditions which have not yet been met and therefore were excluded from the computation of weighted average shares of 2,457,215 for the three and six months ended June 28, 2025 and 1,805,754 shares for the three and six months ended June 29, 2024.
The following securities were not included in the computation of diluted shares outstanding because the effect would be antidilutive:
Three Months EndedSix Months Ended
Number of securities (in thousands)
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Restricted stock units255 1,124 373 440 
Stock Options1,743 1,740 1,743 1,740 
Total1,998 2,864 2,116 2,180