Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Computation of Basic and Diluted Earnings Per Share

The computation of basic and diluted earnings per share was as follows:


	Three Months Ended
	March 31,
(in thousands, except per share amounts)	2026		2025
Numerator:
Net income	$	20,304	$	44,534
Income allocated to participating securities	(79)		(219)
Net income available to common shareholders	$	20,225	$	44,315
Denominator:
Weighted average shares of common stock outstanding – basic	45,719		46,494
Basic earnings per share	$	0.44	$	0.95

Numerator:
Net income	$	20,304	$	44,534
Income allocated to participating securities	(79)		(219)
Net income available to common shareholders	$	20,225	$	44,315
Denominator:
Weighted average shares of common stock outstanding – basic	45,719		46,494
Dilutive effect of stock options, PVRSUs, and RSUs	314		629
Weighted average shares of common stock outstanding – diluted	46,033		47,123
Diluted earnings per share	$	0.44	$	0.94

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following securities have been excluded from the calculation of the diluted weighted average shares of common stock outstanding because the inclusion of these securities would have an anti-dilutive effect:


	Three Months Ended
	March 31,
(in thousands)	2026	2025
Stock options	509	137
PVRSUs	30	—