Three Months Ended

Six Months Ended

April 30,

(In thousands, except per share data)

2025

2024

2025

2024

Numerator:

Net income

$

19,726

$

50,836

$

47,917

$

74,740

Less: preferred stock dividends

(2,669

)

(2,669

)

(5,338

)

(5,338

)

Less: undistributed earnings allocated to participating securities

(144

)

(2,193

)

(350

)

(3,214

)

Numerator for basic earnings per share

$

16,913

$

45,974

$

42,229

$

66,188

Plus: undistributed earnings allocated to participating securities

144

2,193

350

3,215

Less: undistributed earnings reallocated to participating securities

(144

)

(2,194

)

(351

)

(3,215

)

Numerator for diluted earnings per share

$

16,913

$

45,973

$

42,228

$

66,188

Denominator:

Denominator for basic earnings per share – weighted average shares outstanding

6,411

6,457

6,464

6,477

Effect of dilutive securities:

Stock-based payments

540

445

547

443

Denominator for diluted earnings per share – weighted-average shares outstanding

6,951

6,902

7,011

6,920

Basic earnings per share

$

2.64

$

7.12

$

6.53

$

10.22

Diluted earnings per share

$

2.43

$

6.66

$

6.02

$

9.57