Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2026

Basic earnings (loss) per share is based on the weighted average number of common shares outstanding. Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding and all dilutive potential common shares outstanding.

The following table sets forth the computation of basic and diluted earnings (loss) per share:


(Dollars and shares in millions, except per share amounts)	Three Months Ended
	March 31, 2026		March 31, 2025
Numerator:
Net income (loss)	$	4.5	$	(1.4)
Denominator:
Weighted-average shares outstanding - basic	17.8		18.5
Effect of dilutive shares	0.1		—
Weighted-average shares outstanding - diluted	17.9		18.5
Basic earnings (loss) per share	$	0.25	$	(0.08)
Diluted earnings (loss) per share	$	0.25	$	(0.08)

Dilutive shares are calculated using the treasury stock method and primarily include unvested restricted stock units. Anti-dilutive shares are excluded from the calculation of diluted shares and diluted earnings per share. For the three months ended March 31, 2026, an immaterial number of shares were excluded from the calculation of diluted earnings per share.

For the three months ended March 31, 2025, the assumed vesting of restricted stock units had an antidilutive effect on diluted loss per share and were excluded from the calculation of diluted loss per share. For the three months ended March 31, 2025, 0.2 million anti-dilutive shares were excluded from the calculation of diluted loss per share.