Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2026

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per share is computed by dividing net income by the total of the weighted average number of shares of common stock outstanding during the applicable period, plus the effect of non-vested performance shares and restricted stock units. Our potentially dilutive securities have been excluded from the computation of diluted net loss per share as the effect would reduce the net loss per share and is considered antidilutive. Basic and diluted net income (loss) per share are calculated as follows, based on a reconciliation of the weighted-average common shares outstanding on a basic and diluted basis:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2026		2025		2026		2025
	(In thousands, except per share amounts)
Net income (loss)	$	43,883	$	50,603	$	(35,293)	$	(18,107)
Weighted average common shares outstanding - basic	56,758		56,657		56,734		56,642
Effect of dilutive performance shares and restricted stock units	120		255		—		—
Weighted average common shares outstanding - diluted	56,878		56,912		56,734		56,642
Shares excluded from the calculation of diluted income (loss) per share	10		—		114		263
Net income (loss) per share - basic	$	0.77	$	0.89	$	(0.62)	$	(0.32)
Net income (loss) per share - diluted	$	0.77	$	0.89	$	(0.62)	$	(0.32)