Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2025

Computation of Net Income Per Share, Basic and Diluted

The following table sets forth the computation of net income per share, on a basic and diluted basis, for the periods indicated (share count and dollar amounts other than per-share amounts in the table are in thousands):


	Three Months Ended March 31,
	2025		2024
Basic:
Net income (loss)	$	32,102	$	(919)
Less income allocated to participating securities	(842)		(354)
Net income (loss) attributable to common stock	$	31,260	$	(1,273)
Earnings (loss) per share, basic	$	1.74	$	(0.07)
Weighted-average shares outstanding	17,984		17,664
Diluted:
Net income (loss)	$	32,102	$	(919)
Less income allocated to participating securities	(840)		(354)
Net income (loss) attributable to common stock	$	31,262	$	(1,273)
Earnings (loss) per share, diluted	$	1.73	$	(0.07)
Weighted-average shares outstanding	17,984		17,664
Dilutive effect of restricted stock	157		—
Adjusted weighted-average shares outstanding under treasury stock method	18,141		17,664
Participating securities excluded under two-class method	(119)		—
Adjusted weighted-average shares outstanding under two-class method	18,022		17,664