v3.26.1
Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Summary of Basic and Diluted EPS

The following table presents the calculation of basic and diluted EPS (in thousands, except per share amounts):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Basic earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to the Company

 

$

46,444

 

 

$

2,759

 

 

$

92,931

 

 

$

11,548

 

Less: Earnings allocable to unvested restricted stock

 

 

(1,086

)

 

 

(192

)

 

 

(2,170

)

 

 

(769

)

Net income attributable to common shareholders

 

 

45,358

 

 

 

2,567

 

 

 

90,761

 

 

 

10,779

 

Weighted-average basic shares outstanding

 

 

30,221

 

 

 

30,456

 

 

 

30,203

 

 

 

30,438

 

Net income per share attributable to common shareholders

 

$

1.50

 

 

$

0.08

 

 

$

3.01

 

 

$

0.35

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share (1)

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

$

45,358

 

 

$

2,567

 

 

$

90,761

 

 

$

10,779

 

Dilutive impact of unvested restricted stock

 

 

—

 

 

 

—

 

 

 

28

 

 

 

—

 

Net income attributable to common shareholders, net of dilutive impact

 

 

45,358

 

 

 

2,567

 

 

 

90,789

 

 

 

10,779

 

Weighted-average diluted shares outstanding

 

 

30,936

 

 

 

30,742

 

 

 

30,808

 

 

 

30,726

 

Net income per share attributable to common shareholders

 

$

1.47

 

 

$

0.08

 

 

$

2.95

 

 

$

0.35

 

 

(1)
For the three months ended June 30, 2026, the computation of diluted EPS includes contingently issuable shares related to PSUs that are calculated under the treasury stock method. For the three months ended June 30, 2026, the computation of diluted EPS does not include contingently issuable shares related to unvested restricted stock awards due to their anti-dilutive nature. For the three months ended June 30, 2026, had the anti-dilutive
unvested restricted stock awards been dilutive, the denominator for diluted EPS would have been 31,436, including 501 contingently issuable shares related to unvested restricted stock awards. For the six months ended June 30, 2026, the computation of diluted EPS includes contingently issuable shares related to PSUs and unvested restricted stock awards that are calculated under the treasury stock method. For the six months ended June 30, 2026, the computation of diluted EPS does not include contingently issuable shares related to certain unvested restricted stock awards due to their anti-dilutive nature. For the six months ended June 30, 2026, had the anti-dilutive unvested restricted stock awards been dilutive, the denominator for diluted EPS would have been 31,279, including 470 contingently issuable shares related to unvested restricted stock awards. For the three and six months ended June 30, 2025, the computation of diluted EPS includes contingently issuable shares related to PSUs calculated under the treasury stock method. For the three and six months ended June 30, 2025, the computation of diluted EPS does not include contingently issuable shares related to unvested restricted stock awards due to their anti-dilutive nature. For the three and six months ended June 30, 2025, had the contingently issuable shares been dilutive, the denominator for diluted EPS would have been 30,833 and 30,828, respectively, including 91 and 102 contingently issuable shares related to unvested restricted stock awards, respectively.