v3.26.1
Earnings per Unit
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings per Unit Earnings per Unit

The following represents basic and diluted earnings per common unit for the three and six months ended June 30, 2026 and 2025:

 

(in thousands, except per unit data)

Net income (loss)

 

 

Units

 

 

Income (Loss) per Unit

 

Three Months Ended June 30, 2026

 

 

 

 

 

 

 

 

 

Basic

$

60,771

 

 

 

55,446

 

 

$

1.10

 

Dilutive effect of phantom units

 

—

 

 

 

1,236

 

 

 

 

Diluted

$

60,771

 

 

 

56,682

 

 

$

1.07

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2025

 

 

 

 

 

 

 

 

 

Basic

$

(135

)

 

 

48,220

 

 

$

0.00

 

Dilutive effect of phantom units

 

—

 

 

 

—

 

 

 

 

Diluted

$

(135

)

 

 

48,220

 

 

$

0.00

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2026

 

 

 

 

 

 

 

 

 

Basic

$

(13,565

)

 

 

55,269

 

 

$

(0.25

)

Dilutive effect of phantom units

 

—

 

 

 

—

 

 

 

 

Diluted

$

(13,565

)

 

 

55,269

 

 

$

(0.25

)

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2025

 

 

 

 

 

 

 

 

 

Basic

$

2,281

 

 

 

44,671

 

 

$

0.05

 

Dilutive effect of phantom units

 

—

 

 

 

878

 

 

 

 

Diluted

$

2,281

 

 

 

45,549

 

 

$

0.05

 

 

All restricted units, totaling 1.0 million units for the three months ended June 30, 2025 and 1.3 million units for the six months ended June 30, 2026, were excluded from the calculations of earnings per share because the units are anti-dilutive. No units were excluded for the three months ended June 30, 2026 and the six months ended June 30, 2025.