Earnings Per Share

3 Months Ended

Jan. 31, 2024

Note 11. Earnings Per Share

Basic earnings per common share (“EPS”) is computed by dividing net income or loss by the weighted average number of common shares outstanding, which excludes shares of issued but unvested restricted stock awards. Diluted EPS is computed by dividing net income, if applicable, by the weighted-average number of common shares outstanding assuming dilution. The difference between basic EPS and diluted EPS is the result of the dilutive effect of unvested performance stock units, restricted stock units, and restricted stock awards. The reconciliation of basic weighted-average shares outstanding to diluted weighted-average shares outstanding was as follows:


	Three Months Ended January 31,
	2024		2023
Basic weighted-average common shares outstanding		59,050,739		58,340,983
Dilutive restricted stock awards		291,935		—
Dilutive restricted stock units		348,671		—
Dilutive performance stock units		90,964		—
Diluted weighted-average common shares outstanding		59,782,309		58,340,983

The table below represents shares excluded from the calculation of diluted weighted-average shares outstanding because they would have been anti-dilutive:


	Three Months Ended January 31,
	2024		2023
Anti-dilutive shares		—		1,670,693