Basic earnings per share (“basic EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect to all dilutive potential shares.

The following tables set forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2026 and 2025:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025

Net income	$	19,796	$	2,859	$	56,695	$	30,316

Basic weighted average shares outstanding	29,926		30,955		30,178		31,027

Stock-based awards	199		95		75		118





Diluted weighted average shares outstanding	30,125		31,050		30,253		31,145

Net income (per share)
Basic	$	0.66	$	0.09	$	1.88	$	0.98
Diluted	0.66		0.09		1.87		0.97

The shares used in the calculation of diluted EPS exclude stock options, stock appreciation rights, restricted stock units, and performance share units to purchase shares where the exercise price was greater than the average market price of common shares for the period and the effect of the inclusion would be anti-dilutive. Such shares aggregated approximately 3.7 million and 4.3 million for the three and nine months ended September 30, 2026, respectively, and 4.0 million and 3.9 million for the three and nine months ended September 30, 2025, respectively.