Earnings per Share and Stock Repurchase Program

6 Months Ended

Jun. 28, 2026

Earnings per Share and Stock Repurchase Program

Earnings per Share and Stock Repurchase Program

7. Earnings per Share and Stock Repurchase Program

The following table sets forth the reconciliation of the calculation of earnings per share:

For the Second Quarter Ended June 28, 2026

For the Second Quarter Ended June 29, 2025

Income

Shares

Per Share

Income

Shares

Per Share

(Numerator)

 

(Denominator)

 

Amount

 

(Numerator)

 

(Denominator)

 

Amount

(Amounts in millions, except per share information)

Basic EPS:

Net income

$

118.3

33.5

$

3.53

$

100.9

33.5

$

3.01

Effect of dilutive securities:

Common stock equivalents

—

—

—

—

Diluted EPS:

Net income

$

118.3

33.5

$

3.53

$

100.9

33.5

$

3.01

For the Six Months Ended June 28, 2026

For the Six Months Ended June 29, 2025

Income

Shares

Per Share

Income

Shares

Per Share

(Numerator)

 

(Denominator)

 

Amount

 

(Numerator)

 

(Denominator)

 

Amount

(Amounts in millions, except per share information)

Basic EPS:

Net income

$

217.9

33.5

$

6.50

$

174.9

33.5

$

5.22

Effect of dilutive securities:

Common stock equivalents

—

—

—

—

Diluted EPS:

Net income

$

217.9

33.5

$

6.50

$

174.9

33.5

$

5.22

On July 31, 2023, the Company’s Board of Directors authorized the repurchase of up to $150 million of the Company’s Class A common stock, to be purchased from time to time on the open market or in privately negotiated transactions. The Company has entered into a Rule 10b5-1 plan, which permits shares to be repurchased under the Company’s stock repurchase program when the Company might otherwise be precluded from doing so under insider trading laws. The repurchase program may be suspended or discontinued at any time, subject to the terms of the Rule 10b5-1 plan the Company entered into with respect to the repurchase program. As of June 28, 2026, there was approximately $121.0 million remaining authorized for share repurchases under the repurchase program.

For the second quarters ended June 28, 2026 and June 29, 2025, the Company repurchased 13,283 shares for $4.1 million and 18,019 shares for $4.0 million, respectively. For the six months ended June 28, 2026 and June 29, 2025, the Company repurchased 25,935 shares for $7.9 million and 36,770 shares for $7.9 million, respectively.