The following table reconciles the numerator (i.e., income) and denominator (i.e., shares) of the basic and diluted earnings (loss) per share computations for the periods presented (in thousands, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator for EPS: | | | | | | | | | Net income (loss) | $ | 59,188 | | | $ | 35,093 | | | $ | 113,479 | | | $ | 76,532 | | | Less: Preferred stock dividends | (2) | | | (2) | | | (5) | | | (5) | | | Income (loss) available to common stockholders | $ | 59,186 | | | $ | 35,091 | | | $ | 113,474 | | | $ | 76,527 | | | Denominator for EPS: | | | | | | | | | Weighted average common shares outstanding | 27,618 | | | 27,972 | | | 27,588 | | | 28,066 | | Plus: Assumed conversion of share-based compensation (1) | 1,400 | | | 1,075 | | | 1,288 | | | 886 | | | Assumed conversion of preferred stock | 25 | | | 25 | | | 25 | | | 25 | | | Weighted average diluted common shares outstanding | 29,043 | | | 29,072 | | | 28,901 | | | 28,977 | | | Basic earnings (loss) per common share | $ | 2.14 | | | $ | 1.25 | | | $ | 4.11 | | | $ | 2.73 | | | Diluted earnings (loss) per common share | $ | 2.04 | | | $ | 1.21 | | | $ | 3.93 | | | $ | 2.64 | |
| | | | | | | | | | (1) | | Represents the dilutive effect of common shares issuable upon the exercise of stock options, non-vested performance share units, non-vested restricted stock units and non-vested restricted stock awards. |
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