v3.25.3
Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Summary of Basic and Diluted EPS

The following table presents the calculation of basic and diluted EPS (in thousands, except per share amounts):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Basic earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to the Company

 

$

75,428

 

 

$

16,198

 

 

$

86,976

 

 

$

20,992

 

Less: Earnings allocable to unvested restricted stock

 

 

(1,161

)

 

 

(333

)

 

 

(1,345

)

 

 

(852

)

Net income attributable to common shareholders

 

 

74,267

 

 

 

15,865

 

 

 

85,631

 

 

 

20,140

 

Weighted-average basic shares outstanding

 

 

30,406

 

 

 

30,756

 

 

 

30,427

 

 

 

31,149

 

Net income per share attributable to common shareholders

 

$

2.44

 

 

$

0.52

 

 

$

2.81

 

 

$

0.65

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share (1)

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

$

74,267

 

 

$

15,865

 

 

$

85,631

 

 

$

20,140

 

Dilutive impact of unvested restricted stock

 

 

214

 

 

 

—

 

 

 

—

 

 

 

—

 

Net income attributable to common shareholders, net of dilutive impact

 

 

74,481

 

 

 

15,865

 

 

 

85,631

 

 

 

20,140

 

Weighted-average diluted shares outstanding

 

 

31,313

 

 

 

30,756

 

 

 

30,851

 

 

 

31,151

 

Net income per share attributable to common shareholders

 

$

2.38

 

 

$

0.52

 

 

$

2.78

 

 

$

0.65

 

 

(1)
For the three and nine months ended September 30, 2025, the computation of diluted EPS includes contingently issuable shares related to PSUs calculated under the treasury stock method. For the three months ended September 30, 2025, the computation of diluted EPS includes contingently issuable shares related to unvested restricted stock awards calculated under the treasury stock method. For the nine months ended September 30, 2025, the computation of diluted EPS does not include contingently issuable shares related to unvested restricted stock awards due to their anti-dilutive nature. For the nine months ended September 30, 2025, had the contingently issuable shares been dilutive, the denominator for diluted EPS would have been 30,987,521, including 136,493 contingently issuable shares related to unvested restricted stock awards. For the three and nine months ended September 30, 2024, the computation of diluted EPS includes contingently issuable shares related to PSUs calculated under the treasury stock method. For the three and nine months ended September 30, 2024, the computation of diluted EPS does not include contingently issuable shares related to unvested restricted stock awards due to their anti-dilutive nature. For the three and nine months ended September 30, 2024, had the contingently issuable shares been dilutive, the denominator for diluted EPS would have been 30,939,827 and 31,223,748, respectively, including 183,851 and 72,521, respectively, contingently issuable shares related to unvested restricted stock awards.