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Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share

Schedule of earnings per share

The computation of earnings per share for the year ended December 31, 2025 are (in thousands, except per share and footnote amounts):

​	​	​	​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​ ​ ​	2025		​ ​ ​	2024		​	2023
Basic EPS	​	​	​	​	​	​	​	​	​
Numerator	​	​	​	​	​	​	​	​	​
Net income	​	$	187,965	​	$	128,891	​	$	111,519
Less: Earnings allocated to participating securities	​	​	18,590	​	​	—	​	​	—
Net income available to common stockholders	​	​	169,375	​	​	128,891	​	​	111,519
​	​	​	​	​	​	​	​	​	​
Denominator	​	​	​	​	​	​	​	​	​
Weighted average shares outstanding(1)	​	​	30,015	​	​	—	​	​	—
Basic EPS	​	$	5.64	​	$	—	​	$	—
​	​	​	​	​	​	​	​	​	​
Diluted EPS	​	​	​	​	​	​	​	​	​
Numerator	​	​	​	​	​	​	​	​	​
Net income available to common stockholders	​	$	169,375	​	$	128,891	​	$	111,519
Reallocation of earnings from participating securities	​	​	—	​	​	—	​	​	—
Net income available to common stockholders for diluted EPS	​	$	169,375	​	$	128,891	​	$	111,519
​	​	​	​	​	​	​	​	​	​
Denominator	​	​	​	​	​	​	​	​	​
Weighted average shares outstanding(1)	​	​	30,015	​	​	—	​	​	—
Weighted average effect of dilutive securities:	​	​	​	​	​	​	​	​	​
Options(2)	​	​	—	​	​	—	​	​	—
Nonvested restricted stock	​	​	—	​	​	—	​	​	—
Number of shares used for diluted EPS computation	​	​	30,015	​	​	—	​	​	—
Diluted EPS	​	$	5.64	​	$	—	​	$	—

​

​

(1) Weighted average common shares outstanding used in the computation of basic and diluted EPS for the year ended December 31, 2025 is determined using the period from June 27, 2025, the date of the IPO, through December 31, 2025.

(2) Weighted options outstanding of 477,542 as of December 31, 2025 were determined to be antidilutive and excluded from the dilutive EPS computation.

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- References

No definition available.

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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