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Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per share (“basic EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect to all dilutive potential shares.

The following tables set forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2025 and 2024:

Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Net income
$2,859 $48,984 $30,316 $98,668 
Basic weighted average shares outstanding
30,955 30,856 31,027 30,815 
Stock compensation95 256 118 333 
Diluted weighted average shares outstanding
31,050 31,112 31,145 31,148 
Net income (per share)
Basic
$0.09 $1.59 $0.98 $3.20 
Diluted
0.09 1.57 0.97 3.17 
The shares used in the calculation of diluted EPS exclude stock options and stock appreciation rights to purchase shares where the exercise price was greater than the average market price of common shares for the period and the effect of the inclusion would be anti-dilutive. Such shares aggregated approximately 4.0 million and 3.9 million for the three and nine months ended September 30, 2025, respectively, and 3.4 million and 3.2 million for the three and nine months ended September 30, 2024, respectively.