v3.26.3
Earnings per Unit
 9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Earnings per Unit Earnings per Unit

The following represents basic and diluted earnings per common unit for the three and nine months ended September 30, 2026 and 2025:

 

(in thousands, except per unit data)

Net Income (Loss)

 

 

Units

 

 

Income (Loss) per Unit

 

Three Months Ended September 30, 2026

 

 

 

 

 

 

 

 

 

Basic

$

(32,088

)

 

 

55,446

 

 

$

(0.58

)

Dilutive effect of phantom units

 

—

 

 

 

—

 

 

 

 

Diluted

$

(32,088

)

 

 

55,446

 

 

$

(0.58

)

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2025

 

 

 

 

 

 

 

 

 

Basic

$

4,352

 

 

 

54,784

 

 

$

0.08

 

Dilutive effect of phantom units

 

—

 

 

 

1,023

 

 

 

 

Diluted

$

4,352

 

 

 

55,807

 

 

$

0.08

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2026

 

 

 

 

 

 

 

 

 

Basic

$

(45,653

)

 

 

55,329

 

 

$

(0.83

)

Dilutive effect of phantom units

 

—

 

 

 

—

 

 

 

 

Diluted

$

(45,653

)

 

 

55,329

 

 

$

(0.83

)

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2025

 

 

 

 

 

 

 

 

 

Basic

$

6,633

 

 

 

48,079

 

 

$

0.14

 

Dilutive effect of phantom units

 

—

 

 

 

927

 

 

 

 

Diluted

$

6,633

 

 

 

49,006

 

 

$

0.14

 

 

All restricted units, totaling 1.2 million, were excluded from the calculation of earnings per common unit for the three months ended September 30, 2026, and all restricted units, totaling 1.3 million, were excluded from the calculation of earnings per common unit for the nine months ended September 30, 2026 because the units are anti-dilutive. No units were excluded for the three months ended September 30, 2025 or the nine months ended September 30, 2025.