Net Income (Loss) per Common Share

6 Months Ended

Jun. 30, 2026

Note 11 - Net Income (Loss) per Common Share

The following table presents a reconciliation of net income (loss) and the shares used in calculating weighted average basic and diluted earnings per common share for the three and six months ended June 30, 2026 and June 30, 2025.


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
Net Income (Loss)	$	114,816	$	(75,608)	$	59,965	$	(48,276)
Less: Preferred dividends	(3,264)		(3,003)		(6,439)		(6,003)
Net Income (Loss) available (related) to common stockholders	$	111,552	$	(78,611)	$	53,526	$	(54,279)

Weighted average common shares outstanding – basic	129,125		83,803		124,378		79,536
Add: Effect of dilutive non-vested awards, assumed vested	893		—		893		—
Weighted average common shares outstanding – diluted	130,018		83,803		125,271		79,536

Net Income (loss) per share available (related) to common stockholders - basic	0.86		(0.94)		0.43		(0.68)
Net Income (loss) per share available (related) to common stockholders - diluted	0.86		(0.94)		0.43		(0.68)

For the three and six months ended June 30, 2025, 274 of potentially dilutive non-vested awards outstanding were excluded from the computation of diluted Net Income (Loss) available (related) to common stockholders because to have included them would have been anti-dilutive for the period.