v3.26.1
Earnings per Unit
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Earnings per Unit Earnings per Unit

The following represents basic and diluted earnings per common unit for the three months ended March 31, 2026 and 2025:

 

(in thousands, except per unit data)

Net (loss) income

 

 

Units

 

 

(Loss) Income per Unit

 

2026

 

 

 

 

 

 

 

 

 

Basic

$

(74,336

)

 

 

55,090

 

 

$

(1.35

)

Dilutive effect of phantom units

 

—

 

 

 

—

 

 

 

 

Diluted

$

(74,336

)

 

 

55,090

 

 

$

(1.35

)

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

 

 

 

 

 

 

Basic

$

2,416

 

 

 

41,083

 

 

$

0.06

 

Dilutive effect of phantom units

 

—

 

 

 

731

 

 

 

 

Diluted

$

2,416

 

 

 

41,814

 

 

$

0.06

 

All restricted units, totaling 1.3 million, were excluded from the calculation of earnings per common unit for the three months ended March 31, 2026, because the units are anti-dilutive. No units were excluded for the three months ended March 31, 2025.