Earnings Per Share

3 Months Ended

Mar. 31, 2025

Note 4: Earnings Per Share

Earnings (loss) per share (“EPS”) is calculated by dividing Net income or loss by the weighted average shares outstanding.

As the Company was in a Net loss position for the three months ended March 31, 2024, the Company has determined all potentially dilutive shares would be anti-dilutive in this period and therefore these shares were excluded from the calculation of diluted weighted average shares outstanding. This resulted in the calculation of weighted average shares outstanding to be the same for both basic and diluted EPS for the three months ended March 31, 2024. Approximately 3.3 million of potentially dilutive shares for the three months ended March 31, 2024 were excluded from the computation of diluted EPS because their effect would have been anti-dilutive.

The following is a calculation of EPS (in millions, except per share amounts):


	Three Months Ended March 31,
	2025		2024
Basic EPS
Net income (loss)	$	1.9	$	(28.8)
Weighted average shares outstanding for basic earnings (loss) per share	230.4		227.9
Basic earnings (loss) per share attributable to common shareholders	$	0.01	$	(0.13)
Diluted EPS
Net income (loss)	$	1.9	$	(28.8)
Weighted average shares outstanding for basic earnings (loss) per share	230.4		227.9
Dilutive effect of restricted stock units	1.9		—
Weighted average shares outstanding for diluted earnings (loss) per share	232.3		227.9
Diluted earnings (loss) per share attributable to common shareholders	$	0.01	$	(0.13)