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EARNINGS PER SHARE | 6 Months Ended
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Jun. 30, 2026
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE Basic earnings per share is calculated by dividing income from continuing operations, income from discontinued operations, or net income by the weighted-average number of shares outstanding during the period, including contingently issuable shares. Diluted earnings per share is calculated by dividing income from continuing operations, income from discontinued operations, or net income by the weighted-average number of common shares outstanding, after giving effect to all dilutive potential common shares outstanding during the period. Dilutive potential common shares include shares that may be issued under warrants, including warrants issued in connection with the Oaktree Credit Agreement and private debt exchange transactions, and restricted stock and stock option awards. As of May 29, 2026, the Oaktree Warrants issued in connection with the Oaktree Credit Agreement were exercised and are no longer outstanding. Securities that could potentially dilute basic net income per share in the future that were not included in the computation of diluted net income per share as the effect would be anti-dilutive were 1,350,215 and 3,229,165 during the three and six months ended June 30, 2026 and 2025, respectively. Basic and diluted earnings per share were calculated as follows:
| Three Months Ended June 30,
| 2026 |  | 2025
| Continuing Operations |  | Discontinued Operations |  | Total |  | Continuing Operations |  | Discontinued Operations |  | Total
Numerator: |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 21,597 |  |  | $ | — |  |  | $ | 21,597 |  |  | $ | 71,687 |  |  | $ | 69,312 |  |  | $ | 140,999 |
Net income attributable to noncontrolling interests | 1,048 |  |  | — |  |  | 1,048 |  |  | 1,528 |  |  | — |  |  | 1,528 |
Net income attributable to Registrant | 20,549 |  |  | — |  |  | 20,549 |  |  | 70,159 |  |  | 69,312 |  |  | 139,471 |
Preferred stock dividends | 2,015 |  |  | — |  |  | 2,015 |  |  | 2,015 |  |  | — |  |  | 2,015 |
Net income available to common shareholders | $ | 18,534 |  |  | $ | — |  |  | $ | 18,534 |  |  | $ | 68,144 |  |  | $ | 69,312 |  |  | $ | 137,456 |
Add back: Change in fair value of warrants and gain on warrant exercise | (1,331) |  |  | — |  |  | (1,331) |  |  | — |  |  | — |  |  | — |
Diluted net income attributable to common stockholders | $ | 17,203 |  |  | $ | — |  |  | $ | 17,203 |  |  | $ | 68,144 |  |  | $ | 69,312 |  |  | $ | 137,456 |
| Six Months Ended June 30,
| 2026 |  | 2025
| Continuing Operations |  | Discontinued Operations |  | Total |  | Continuing Operations |  | Discontinued Operations |  | Total
Numerator: |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 243,756 |  |  | $ | — |  |  | $ | 243,756 |  |  | $ | 51,725 |  |  | $ | 72,707 |  |  | $ | 124,432 |
Net income (loss) attributable to noncontrolling interests | 9,934 |  |  | — |  |  | 9,934 |  |  | (5,064) |  |  | — |  |  | (5,064) |
Net income attributable to Registrant | 233,822 |  |  | — |  |  | 233,822 |  |  | 56,789 |  |  | 72,707 |  |  | 129,496 |
Preferred stock dividends | 4,030 |  |  | — |  |  | 4,030 |  |  | 4,030 |  |  | — |  |  | 4,030 |
Net income available to common shareholders | $ | 229,792 |  |  | $ | — |  |  | $ | 229,792 |  |  | $ | 52,759 |  |  | $ | 72,707 |  |  | $ | 125,466 |
Add back: Change in fair value of warrants and gain on warrant exercise | (1,331) |  |  | — |  |  | (1,331) |  |  | — |  |  | — |  |  | — |
Diluted net income attributable to common stockholders | $ | 228,461 |  |  | $ | — |  |  | $ | 228,461 |  |  | $ | 52,759 |  |  | $ | 72,707 |  |  | $ | 125,466 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Denominator: |  |  |  |  |  |  |
Weighted average common shares outstanding: |  |  |  |  |  |  |
Basic | 37,811,031 |  |  | 30,527,835 |  |  | 34,879,728 |  |  | 30,512,757 |
Effect of dilutive potential common shares: |  |  |  |  |  |  |
Restricted stock units, stock options and warrants | 611,154 |  |  | — |  |  | 431,273 |  |  | — |
Diluted | 38,422,185 |  |  | 30,527,835 |  |  | 35,311,001 |  |  | 30,512,757 |
Basic net income per common share: |  |  |  |  |  |  |
Continuing operations | $ | 0.49 |  |  | $ | 2.23 |  |  | $ | 6.59 |  |  | $ | 1.73 |
Discontinued operations | — |  |  | 2.27 |  |  | — |  |  | 2.38 |
Basic income per common share | $ | 0.49 |  |  | $ | 4.50 |  |  | $ | 6.59 |  |  | $ | 4.11 |
Diluted net income per common share: |  |  |  |  |  |  |
Continuing operations | $ | 0.45 |  |  | $ | 2.23 |  |  | $ | 6.47 |  |  | $ | 1.73 |
Discontinued operations | — |  |  | 2.27 |  |  | — |  |  | 2.38 |
Diluted income per common share | $ | 0.45 |  |  | $ | 4.50 |  |  | $ | 6.47 |  |  | $ | 4.11 |

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