Earnings Per Share

9 Months Ended

Jul. 31, 2024

Note 11. Earnings Per Share

Basic earnings per common share (“EPS”) is computed by dividing net income or loss by the weighted average number of common shares outstanding, which excludes shares of issued but unvested restricted stock awards. Diluted EPS is computed by dividing net income, if applicable, by the weighted-average number of common shares outstanding assuming dilution. The difference between basic EPS and diluted EPS is the result of the dilutive effect of unvested performance stock units, restricted stock units, and restricted stock awards. The reconciliation of basic weighted-average shares outstanding to diluted weighted-average shares outstanding was as follows:


	Three Months Ended July 31,				Nine Months Ended July 31,
	2024		2023		2024		2023
Basic weighted-average common shares outstanding		51,514,327		58,730,037		54,571,246		58,588,712
Dilutive stock options		—		1,931		—		2,076
Dilutive restricted stock awards		236,614		307,098		233,134		306,639
Dilutive restricted stock units		385,557		116,151		359,497		143,923
Diluted weighted-average common shares outstanding		52,136,498		59,155,217		55,163,877		59,041,350

The table below represents shares excluded from the calculation of diluted weighted-average shares outstanding because they would have been anti-dilutive:


	Three Months Ended July 31,				Nine Months Ended July 31,
	2024		2023		2024		2023
Anti-dilutive shares		—		233,394		6,416		241,457