Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2023

Summary of Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share were as follows for the three- and nine-month periods ended September 30, 2023 and 2022:


	Three Months Ended September 30,
(In Thousands, Except Share Data)	2023				2022
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	6,380	$	6,380	$	(22,981)	$	(22,981)
Weighted-average common shares outstanding	25,263,523		25,263,523		25,188,958		25,188,958
Add dilutive effect of restricted stock unit awards	—		295,997		—		—
Add dilutive effect of stock options	—		19,814		—		—
Weighted-average common shares outstanding	25,263,523		25,579,334		25,188,958		25,188,958
Earnings (loss) per common share	$	0.25	$	0.25	$	(0.91)	$	(0.91)
Awards excluded from diluted earnings per share calculation(1)	—		837,482		—		392,062

(1)Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.


	Nine Months Ended September 30,
(In Thousands, Except Share Data)	2023				2022
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	(49,308)	$	(49,308)	$	(5,089)	$	(5,089)
Weighted-average common shares outstanding	25,244,502		25,244,502		25,146,318		25,146,318
Add dilutive effect of restricted stock unit awards	—		—		—		—
Add dilutive effect of stock options	—		—		—		—
Weighted-average common shares outstanding	25,244,502		25,244,502		25,146,318		25,146,318
Earnings (loss) per common share	$	(1.95)	$	(1.95)	$	(0.20)	$	(0.20)
Awards excluded from diluted earnings per share calculation(1)	—		814,636		—		479,981

(1)Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.