Earnings (Loss) per Share ("EPS")

3 Months Ended

Mar. 31, 2025

Basic EPS of Class A common stock is computed by dividing net income (loss) by the weighted average number of shares of Class A common stock outstanding during the period (which does not include treasury stock). Diluted EPS of Class A common stock is computed similarly to basic EPS except that the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents using the treasury stock method, if dilutive. The Company’s restricted/performance stock units are considered common stock equivalents for this purpose.

Basic and diluted EPS of Class A common stock have been computed as follows (in thousands, except per share amounts):


	Three Months Ended March 31,
	2025		2024
Numerator:
Net income (loss) - basic and diluted	$	(282)	$	4,774
Denominator:
Weighted average shares of Class A common stock outstanding - basic	166,960		170,282
Effect of dilutive securities:
Restricted / performance stock units	—		232
Weighted average shares of Class A common stock outstanding - diluted	166,960		170,514

Earnings (loss) per share of Class A common stock - basic	$	(0.00)	$	0.03
Earnings (loss) per share of Class A common stock - diluted	$	(0.00)	$	0.03

The Company generated a net loss for the three months ended March 31, 2025, so the effect of dilutive securities was not considered because their effect would be antidilutive. If the Company had generated net income, the effect of restricted stock units on the diluted shares calculations would have been an increase of 163,722.