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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The following table presents earnings per share for the three and nine months ended September 30, 2024 and 2023:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(shares presented in the table are in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Net (loss) income | $ | (7,903) |  |  | $ | 9,026 |  |  | $ | 8,366 |  |  | $ | 28,020 |
Weighted average shares outstanding - basic | 19,088 |  |  | 10,319 |  |  | 13,298 |  |  | 10,346 |
Dilutive effect of share-based compensation | 138 |  |  | 86 |  |  | 143 |  |  | 94 |
Weighted average shares outstanding - diluted | 19,226 |  |  | 10,405 |  |  | 13,441 |  |  | 10,440 |
Per share information: |  |  |  |  |  |  |
Basic (loss) earnings per share | $ | (0.41) |  |  | $ | 0.87 |  |  | $ | 0.63 |  |  | $ | 2.71 |
Diluted (loss) earnings per share | (0.41) |  |  | 0.87 |  |  | 0.62 |  |  | 2.68 |
For the three and nine months ended September 30, 2024, there were average outstanding restricted award shares totaling zero and 517, respectively, compared to 5,262 and 8,348 shares for the three and nine months ended September 30, 2023, respectively, excluded from the computation of earnings per share because the effect was antidilutive, as the grant price exceeded the average market price. The dilutive effect of share-based compensation in each period above relates to restricted stock awards and vested stock options assumed from the Merger.

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