Income Taxes

9 Months Ended

Jun. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

9. Income Taxes

The following table summarizes the Company’s income tax expense and effective income tax rate for the three and nine months ended June 30, 2025 and 2024.

	Three Months Ended June 30,						Nine Months Ended June 30,
	2025			2024			2025			2024
Income before income taxes	$	44.9		$	33.4		$	39.0		$	58.3
Income tax expense		12.6			9.9			10.7			17.5
Effective income tax rate		28.1	%		29.6	%		27.4	%		30.0	%

The decrease in the effective tax rate for the three months ended June 30, 2025, when compared to the three months ended June 30, 2024, is primarily attributable to the mix of pre-tax book income amongst separate state filers.

The decrease in effective tax rate for the nine months ended June 30, 2025, when compared to the nine months ended June 30, 2024, is primarily attributable to the equity-based compensation shifting to a windfall position, as well as the impact of the non-recurring gain on the divestiture of the U.S. Lawns subsidiary that occurred in the prior fiscal year.