Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2024

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 six-month periods ended June 30, 2024 and 2023:


	Three Months Ended June 30,
(In Thousands, Except Share Data)	2024				2023
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	(2,735)	$	(2,735)	$	(56,382)	$	(56,382)
Weighted-average common shares outstanding	25,314,456		25,314,456		25,249,073		25,249,073
Add dilutive effect of restricted stock unit awards	—		—		—		—
Add dilutive effect of stock options	—		—		—		—
Weighted-average common shares outstanding	25,314,456		25,314,456		25,249,073		25,249,073
Earnings (loss) per common share	$	(0.11)	$	(0.11)	$	(2.23)	$	(2.23)
Awards excluded from diluted earnings per share calculation(1)	—		662,378		—		826,259

(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 inherently have been anti-dilutive.


	Six Months Ended June 30,
(In Thousands, Except Share Data)	2024				2023
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	10,767	$	10,767	$	(55,688)	$	(55,688)
Weighted-average common shares outstanding	25,294,698		25,294,698		25,234,834		25,234,834
Add dilutive effect of restricted stock unit awards	—		599,982		—		—
Add dilutive effect of stock options	—		801		—		—
Weighted-average common shares outstanding	25,294,698		25,895,481		25,234,834		25,234,834
Earnings (loss) per common share	$	0.43	$	0.42	$	(2.21)	$	(2.21)
Awards excluded from diluted earnings per share calculation(1)	—		662,378		—		822,692

(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 inherently have been anti-dilutive.