v3.26.1
EARNINGS (LOSS) PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Earnings Income (Loss) Per Share
Reconciliations of the components of basic and diluted net income (loss) per common share are presented in the tables below (in thousands):
Three Months Ended June 30, 2026Three Months Ended June 30, 2025
Net income$87,102 $184,466 
Dividends on preferred stock— (804)
Participating securities - preferred stock(1)
— (20,622)
Net income attributable to common stockholders$87,102 $163,040 
Re-allocation of participating securities— 205 
Diluted net income attributable to common stockholders$87,102 $163,245 
Basic Shares17,895 17,707 
Dilutive Shares17,945 17,907 
Basic EPS$4.87 $9.21 
Dilutive EPS$4.85 $9.12 
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(1)    Preferred stock represents participating securities because it participates in any dividends on shares of common stock on a pari passu, pro rata basis. However, preferred stock does not participate in undistributed net losses. The Company redeemed all outstanding preferred stock on September 5, 2025.
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Net income$252,924 $184,002 
Dividends on preferred stock— (1,666)
Participating securities - preferred stock(1)
— (20,385)
Net income attributable to common stockholders$252,924 $161,951 
Re-allocation of participating securities— 217 
Diluted net income attributable to common stockholders$252,924 $162,168 
Basic Shares18,222 17,793 
Dilutive Shares18,306 18,009 
Basic EPS$13.88 $9.10 
Dilutive EPS$13.82 $9.01 
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(1)    Preferred stock represents participating securities because it participates in any dividends on shares of common stock on a pari passu, pro rata basis. However, preferred stock does not participate in undistributed net losses. The Company redeemed all outstanding preferred stock on September 5, 2025.