Net income (loss) per common share (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Calculation of Basic and Diluted Weighted-average Common Shares Outstanding and Net Income (Loss) Per Common Share

The following table reflects the calculations of basic and diluted (i) weighted-average common shares outstanding and (ii) net income (loss) per common share for the periods presented:


	Three months ended September 30,				Nine months ended September 30,
(in thousands, except for per share data)	2025		2024		2025		2024
Net income (loss)	$	(353,522)	$	215,300	$	(954,931)	$	185,871
Less: preferred stock dividends	—		—		—		652
Net income (loss) available to common stockholders	$	(353,522)	$	215,300	$	(954,931)	$	185,219
Weighted-average common shares outstanding:
Basic	37,801		37,459		37,714		36,472
Dilutive non-vested restricted stock awards	—		102		—		108

Dilutive non-vested share-settled performance share unit awards	—		19		—		13

Dilutive preferred stock	—		—		—		777
Diluted	37,801		37,580		37,714		37,370
Net income (loss) per common share:
Basic	$	(9.35)	$	5.75	$	(25.32)	$	5.08
Diluted	$	(9.35)	$	5.73	$	(25.32)	$	4.97

Anti-dilutive weighted-average common shares outstanding(1):

Non-vested restricted stock awards	714		396		745		104
Non-vested share-settled performance share unit awards	—		—		7		—

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(1)Shares excluded from the diluted net income (loss) per common share calculation because their effect would be anti-dilutive.