Three Months Ended

Nine Months Ended

July 31,

(In thousands, except per share data)

2025

2024

2025

2024

Numerator:

Net income

$

16,615

$

72,919

$

64,532

$

147,659

Less: preferred stock dividends

(2,669

)

(2,669

)

(8,007

)

(8,007

)

Less: undistributed earnings allocated to participating securities

(233

)

(1,548

)

(1,428

)

(4,660

)

Numerator for basic earnings per share

$

13,713

$

68,702

$

55,097

$

134,992

Plus: undistributed earnings allocated to participating securities

233

1,548

1,428

4,660

Less: undistributed earnings reallocated to participating securities

(234

)

(1,556

)

(1,435)

(4,698

)

Numerator for diluted earnings per share

$

13,712

$

68,694

$

55,090

$

134,954

Denominator:

Denominator for basic earnings per share – weighted average shares outstanding

6,399

6,474

6,442

6,476

Effect of dilutive securities:

Stock-based payments

488

574

494

572

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

6,887

7,048

6,936

7,048

Basic earnings per share

$

2.14

$

10.61

$

8.55

$

20.85

Diluted earnings per share

$

1.99

$

9.75

$

7.94

$

19.15