Earnings Per Share

9 Months Ended

Jul. 31, 2026

We compute basic earnings per share by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common and potential common shares include the weighted average of additional shares associated with the incremental effect of dilutive employee stock options, non-vested restricted stock as determined using the treasury stock method and contingent shares associated with performance share awards, if dilutive.

The computation of basic and diluted earnings per share for the three and nine months ended July 31, 2026 and 2025 follows (in thousands, except per share data):


	Three Months Ended				Nine Months Ended
	July 31,				July 31,
	2026		2025		2026		2025
Basic earnings (loss) per share:
Numerator
Net income (loss)	$	26,504	$	(276,007)	$	25,783	$	(270,377)
Denominator
Shares used in computation of basic earnings (loss) per share	45,461		45,691		45,466		46,395
Basic earnings (loss) per common share	$	0.58	$	(6.04)	$	0.57	$	(5.83)
Diluted earnings (loss) per share:
Numerator
Net income (loss)	$	26,504	$	(276,007)	$	25,783	$	(270,377)
Denominator
Shares used in computation of basic earnings (loss) per share	45,461		45,691		45,466		46,395

Effect of dilutive restricted stock awards	178		—		132		—
Effect of dilutive performance restricted stock units	9		—		9		—
Shares used in computation of diluted earnings (loss) per share	45,648		45,691		45,607		46,395
Diluted earnings (loss) per common share	$	0.58	$	(6.04)	$	0.57	$	(5.83)

We do not include equity instruments in our calculation of diluted earnings per share if those instruments would be anti-dilutive. We had anti-dilutive restricted stock award equivalents for the three and nine months ended July 31, 2026 of 2,555 and 6,803, respectively, and 37,142 and 21,538 for the comparable prior year periods. Such dilution is dependent on the excess of the market price of our stock over the exercise price and other components of the treasury stock method.