Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2026

The following table presents the calculation of basic and diluted EPS (in thousands, except per share amounts):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Basic earnings per share
Net income attributable to the Company	$	11,793		$	75,428		$	104,724		$	86,976
Less: Earnings allocable to unvested restricted stock		(448	)		(1,161	)		(2,441	)		(1,345	)
Net income attributable to common shareholders		11,345			74,267			102,283			85,631
Weighted-average basic shares outstanding		30,222			30,406			30,209			30,427
Net income per share attributable to common shareholders	$	0.38		$	2.44		$	3.39		$	2.81

Diluted earnings per share (1)
Net income attributable to common shareholders	$	11,345		$	74,267		$	102,283		$	85,631
Dilutive impact of unvested restricted stock		—			214			16			—
Net income attributable to common shareholders, net of dilutive impact		11,345			74,481			102,299			85,631
Weighted-average diluted shares outstanding		30,998			31,313			30,870			30,851
Net income per share attributable to common shareholders	$	0.37		$	2.38		$	3.31		$	2.78

(1)

Diluted EPS includes contingently issuable shares related to PSUs, calculated under the treasury stock method, for all periods presented. Unvested restricted stock awards were treated as follows:

•

Three months ended September 30, 2026: Some unvested restricted stock awards are included under the treasury stock method, and certain others are excluded due to their anti-dilutive nature. Had they been dilutive, the diluted EPS denominator would have been 31,560, including 563 incremental shares.

•

Nine months ended September 30, 2026: Some unvested restricted stock awards are included under the treasury stock method, and certain others are excluded due to their anti-dilutive nature. Had they been dilutive, the diluted EPS denominator would have been 31,377, including 507 incremental shares.

•

Three months ended September 30, 2025: Unvested restricted stock awards are included under the treasury stock method.

•

Nine months ended September 30, 2025: Unvested restricted stock awards are excluded due to their anti-dilutive nature. Had they been dilutive, the diluted EPS denominator would have been 30,988, including 136 incremental shares.