Earnings per Share

9 Months Ended

Sep. 30, 2023

Earnings per Share

Earnings per Share

Note 9. Earnings per Share

The following sets forth the calculation of earnings (loss) per share, or EPS, for the periods indicated (in thousands, except per share amounts):

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Net income (loss)	$	(13,403)	$	47,234	$	349,172	$	27,840
Less: Net income allocated to participating securities		—		2,272		15,771		1,310
Basic and diluted earnings available to common stockholders	$	(13,403)	$	44,962	$	333,401	$	26,530
Common shares:
Common shares outstanding — basic		39,063		38,441		38,911		38,318
Dilutive effect of potential common shares		—		—		—		—
Common shares outstanding — diluted		39,063		38,441		38,911		38,318
Net earnings (loss) per share:
Basic	$	(0.34)	$	1.17	$	8.57	$	0.69
Diluted	$	(0.34)	$	1.17	$	8.57	$	0.69