| Earnings Per Share |
Note 10 — Earnings Per Share The computations of the numerator (earnings or loss) and denominator (shares) to derive the basic and diluted earnings per share (“EPS”) amounts presented on the face of the accompanying condensed consolidated statements of operations are as follows (in thousands, except per share amounts): | | | | | | | | | | | | | Three Months Ended | | Three Months Ended | | | June 30, 2026 | | June 30, 2025 | | | Income | | Shares | | Income | | Shares | Basic: | | | | | | | | | | | Continuing operations: | | | | | | | | | | | Net income (loss) | | $ | 22,720 | | | | $ | (2,598) | | | Less: Income from discontinued operations, net of tax | | | (7,455) | | | | | (2,464) | | | Less: Undistributed earnings allocated to participating securities - continuing operations | | | (13) | | | | | — | | | Income (loss) available to common shareholders - continuing operations | | $ | 15,252 | | 147,220 | | $ | (5,062) | | 148,515 | | | | | | | | | | | | Earnings (loss) per share, basic | | $ | 0.10 | | | | $ | (0.04) | | |
| | | | | | | | | | | | | Three Months Ended | | Three Months Ended | | | June 30, 2026 | | June 30, 2025 | | | Income | | Shares | | Income | | Shares | Discontinued operations: | | | | | | | | | | | Income available to common shareholders - discontinued operations | | $ | 7,449 | | 147,220 | | $ | 2,464 | | 148,515 | | | | | | | | | | | | Earnings per share, basic | | $ | 0.05 | | | | $ | 0.02 | | | | | | | | | | | | | | Diluted: | | | | | | | | | | | Continuing operations: | | | | | | | | | | | Income (loss) available to common shareholders - continuing operations | | $ | 15,252 | | 147,220 | | $ | (5,062) | | 148,515 | Effect of dilutive securities: | | | | | | | | | | | Share-based awards other than participating securities | | | — | | 887 | | | — | | — | Net income (loss) available to common shareholders - continuing operations | | $ | 15,252 | | 148,107 | | $ | (5,062) | | 148,515 | | | | | | | | | | | | Earnings (loss) per share, diluted | | $ | 0.10 | | | | $ | (0.04) | | | | | | | | | | | | | | Discontinued operations: | | | | | | | | | | | Net income available to common shareholders - discontinued operations | | $ | 7,449 | | 148,107 | | $ | 2,464 | | 148,515 | | | | | | | | | | | | Earnings per share, diluted | | $ | 0.05 | | | | $ | 0.02 | | |
| | | | | | | | | | | | | Six Months Ended | | Six Months Ended | | | June 30, 2026 | | June 30, 2025 | | | Income | | Shares | | Income | | Shares | Basic: | | | | | | | | | | | Continuing operations: | | | | | | | | | | | Net income | | $ | 9,314 | | | | $ | 474 | | | Less: Loss from discontinued operations, net of tax | | | 709 | | | | | 5,848 | | | Less: Undistributed earnings allocated to participating securities - continuing operations | | | (9) | | | | | (4) | | | Income available to common shareholders - continuing operations | | $ | 10,014 | | 147,192 | | $ | 6,318 | | 149,770 | | | | | | | | | | | | Earnings per share, basic | | $ | 0.07 | | | | $ | 0.04 | | | | | | | | | | | | | | Discontinued operations: | | | | | | | | | | | Loss available to common shareholders - discontinued operations | | $ | (708) | | 147,192 | | $ | (5,844) | | 149,770 | | | | | | | | | | | | Loss per share, basic | | $ | (0.01) | | | | $ | (0.04) | | |
| | | | | | | | | | | | | Six Months Ended | | Six Months Ended | | | June 30, 2026 | | June 30, 2025 | | | Income | | Shares | | Income | | Shares | Diluted: | | | | | | | | | | | Continuing operations: | | | | | | | | | | | Income available to common shareholders - continuing operations | | $ | 10,014 | | 147,192 | | $ | 6,318 | | 149,770 | Effect of dilutive securities: | | | | | | | | | | | Share-based awards other than participating securities | | | — | | 810 | | | — | | 769 | Net income available to common shareholders - continuing operations | | $ | 10,014 | | 148,002 | | $ | 6,318 | | 150,539 | | | | | | | | | | | | Earnings per share, diluted | | $ | 0.07 | | | | $ | 0.04 | | | | | | | | | | | | | | Discontinued operations: | | | | | | | | | | | Net loss available to common shareholders - discontinued operations | | $ | (708) | | 148,002 | | $ | (5,844) | | 150,539 | | | | | | | | | | | | Loss per share, diluted | | $ | (0.01) | | | | $ | (0.04) | | |
We had a net loss for the three-month period ended June 30, 2025. Accordingly, our diluted EPS calculation for this period excluded the dilutive effect of share-based awards because they were deemed to be anti-dilutive, meaning their inclusion would have reduced the reported net loss per share in the applicable period. Shares that otherwise would have been included in the diluted per share calculations assuming we had earnings are as follows (in thousands): | | | | | Three Months Ended | | | June 30, 2025 | Diluted shares (as reported) | | 148,515 | Share-based awards | | 742 | Total | | 149,257 |
We have outstanding restricted stock units (“RSUs”) (Note 11) that can be settled in either cash or shares of our common stock, or a combination thereof, which are not included in the computation of diluted EPS as cash settlement is assumed.
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