v3.26.1
Earnings Per Share ("EPS")
3 Months Ended
Jun. 30, 2026
Earnings Per Share ("EPS"):  
Earnings Per Share ("EPS")

15. Earnings Per Share (“EPS”)

Basic EPS represent net income attributable to common shareholders divided by the weighted average number of common shares outstanding during the measurement period. Our restricted stock shares include rights to receive dividends that are subject to the risk of forfeiture if service requirements are not satisfied, thus these shares are not considered participating securities and are excluded from the basic weighted-average shares outstanding calculation. Diluted EPS represent net income attributable to common shareholders divided by the weighted average number of common shares outstanding during the measurement period while also giving effect to all potentially dilutive common shares that were outstanding during the period as computed using the treasury stock method.

The calculations of basic and diluted EPS for the periods presented are as follows:

Three months ended

(In U.S. dollars except share data)

June 30, 2026

June 30, 2025

Numerator:

Net income

$

138,285,022

$

10,082,101

Denominator:

Basic weighted average number of common shares outstanding

42,549,955

42,427,473

Effect of dilutive restricted stock and restricted stock units

181,596

60,551

Diluted weighted average number of common shares outstanding

42,731,551

42,488,024

EPS:

Basic

$

3.25

$

0.24

Diluted

$

3.24

$

0.24

There were no shares of unvested restricted stock excluded from the calculation of diluted EPS for anti-dilution for the three months ended June 30, 2026. There were 186,733 shares of unvested restricted stock excluded from the calculation of diluted EPS because the effect of their inclusion would be anti-dilutive for the three months ended June 30, 2025.