The following table presents a reconciliation of net income (loss) and the shares used in calculating weighted average basic and diluted earnings per common share for the three and nine months ended September 30, 2026 and September 30, 2025. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Net Income (Loss) | | $ | (323,746) | | | $ | 159,259 | | | $ | (263,781) | | | $ | 110,983 | | | Less: Preferred dividends | | (3,326) | | | (3,003) | | | (9,765) | | | (9,006) | | | Net Income (Loss) available (related) to common stockholders | | $ | (327,072) | | | $ | 156,256 | | | $ | (273,546) | | | $ | 101,977 | | | | | | | | | | | | Weighted average common shares outstanding – basic | | 144,564 | | | 104,318 | | | 131,176 | | | 87,886 | | | Add: Effect of dilutive non-vested awards, assumed vested | | — | | | 255 | | | — | | | 255 | | | Weighted average common shares outstanding – diluted | | 144,564 | | | 104,573 | | | 131,176 | | | 88,141 | | | | | | | | | | | | Net Income (loss) per share available (related) to common stockholders - basic | | (2.26) | | | 1.50 | | | (2.09) | | | 1.16 | | | Net Income (loss) per share available (related) to common stockholders - diluted | | (2.26) | | | 1.49 | | | (2.09) | | | 1.16 | |
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