Earnings per Share and Stock Repurchase Program

9 Months Ended

Sep. 27, 2026

Earnings per Share and Stock Repurchase Program

Earnings per Share and Stock Repurchase Program

7. Earnings per Share and Stock Repurchase Program

The following table sets forth the reconciliation of the calculation of earnings per share:

For the Third Quarter Ended September 27, 2026

For the Third Quarter Ended September 28, 2025

Income

Shares

Per Share

Income

Shares

Per Share

(Numerator)

 

(Denominator)

 

Amount

 

(Numerator)

 

(Denominator)

 

Amount

(Amounts in millions, except per share information)

Basic EPS:

Net income

$

145.4

33.5

$

4.34

$

82.2

33.5

$

2.45

Effect of dilutive securities:

Common stock equivalents

—

—

—

—

Diluted EPS:

Net income

$

145.4

33.5

$

4.34

$

82.2

33.5

$

2.45

For the Nine Months Ended September 27, 2026

For the Nine Months Ended September 28, 2025

Income

Shares

Per Share

Income

Shares

Per Share

(Numerator)

 

(Denominator)

 

Amount

 

(Numerator)

 

(Denominator)

 

Amount

(Amounts in millions, except per share information)

Basic EPS:

Net income

$

363.3

33.5

$

10.84

$

257.1

33.5

$

7.67

Effect of dilutive securities:

Common stock equivalents

—

—

—

—

Diluted EPS:

Net income

$

363.3

33.5

$

10.84

$

257.1

33.5

$

7.67

On July 31, 2023, the Company’s Board of Directors authorized the repurchase of up to $150 million of the Company’s Class A common stock, to be purchased from time to time on the open market or in privately negotiated transactions. The Company has entered into a Rule 10b5-1 plan, which permits shares to be repurchased under the Company’s stock repurchase program when the Company might otherwise be precluded from doing so under insider trading laws. The repurchase program may be suspended or discontinued at any time, subject to the terms of the Rule 10b5-1 plan the Company entered into with respect to the repurchase program. As of September 27, 2026, there was approximately $117.1 million remaining authorized for share repurchases under the repurchase program.

For the third quarters ended September 27, 2026 and September 28, 2025, the Company repurchased 10,809 shares for $3.9 million and 14,593 shares for $3.9 million, respectively. For the nine months ended September 27, 2026 and September 28, 2025, the Company repurchased 36,744 shares for $11.8 million and 51,363 shares for $11.8 million, respectively.