NET (LOSS) INCOME PER COMMON SHARE

3 Months Ended

Mar. 31, 2026

Basic earnings per common share is calculated based on the weighted average number of common shares outstanding during the period, including vested shares deferred under our non-qualified deferred compensation plan. Diluted earnings per common share is determined based on the weighted average number of common shares outstanding during the period combined with the incremental average common shares that would have been outstanding assuming the conversion of all potentially dilutive common shares into common shares as of the earliest date possible. The calculation of basic and diluted net income attributable to common stockholders per common share is determined using net income attributable to common stockholders as the numerator and the number of shares included in the denominator as shown below (in thousands, except per share amounts). The number of antidilutive securities that could potentially dilute basic earnings per share (“EPS”) in the future but were not included in the computation of diluted EPS because to do so would be antidilutive was 771,273 shares, respectively for the three-months ended March 31, 2026. For the three-months ended March 31, 2025, there were 251,431 antidilutive shares, respectively.


	Three Months Ended March 31,
	2026		2025
Basic net (loss) income attributable to common stockholders per share:
Net (loss) income attributable to common stockholders	$	(45,171)	$	230,941
Weighted average common shares outstanding	40,739		42,716
Basic net (loss) income attributable to common stockholders per share	$	(1.11)	$	5.41

Diluted net (loss) income attributable to common stockholders per share:
Net (loss) income attributable to common stockholders	$	(45,171)	$	230,941

Weighted average common shares outstanding	40,739		42,716
Dilutive stock options and restricted stock	—		371
Diluted weighted average common shares outstanding	40,739		43,087
Diluted net (loss) income attributable to common stockholders per share	$	(1.11)	$	5.36