Earnings Per Share

3 Months Ended

Mar. 31, 2026

The following table sets forth the computation of basic and diluted net earnings per share for the three months ended March 31, 2026 and 2025:


	Three months ended March 31,
($ in thousands, except for share and per share amounts)		2026		2025
Numerator
Net income		$	49,731	$	42,058




Denominator
Basic weighted-average common shares		44,463,167		40,196,416



Dilutive effect of stock units		508,468		1,004,585
Dilutive effect of options		472,325		479,594
Diluted weighted-average common share equivalents		45,443,960		41,680,595
Basic earnings per share		$	1.12	$	1.05
Diluted earnings per share		$	1.09	$	1.01

The following table presents anti-dilutive instruments that were excluded from the calculation of diluted weighted-average common share equivalents during the three months ended March 31, 2026 and 2025:


	Three months ended March 31,
		2026	2025


Stock units		385,108	56,155
Options		27	2,512