Earnings per Share

6 Months Ended

Jun. 30, 2024

NOTE 2 – Earnings per Share

Earnings per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. During the six month periods ended June 30, 2024 and June 30, 2023, we paid no dividends on our Common Stock.

The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Earnings (numerator)
Net income attributable to common stockholders	$	8,000	$	82,020	$	22,038	$	153,170

Shares (denominator)
Weighted average common shares outstanding (basic)		46,133		45,733		46,083		45,667
Dilutive effect of stock options and stock awards outstanding		191		510		237		596
Adjusted weighted average common shares outstanding (diluted)		46,324		46,243		46,320		46,263

Earnings per share attributable to common stockholders
Basic	$	0.17	$	1.79	$	0.48	$	3.35
Diluted	$	0.17	$	1.77	$	0.48	$	3.31

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		380		36		270		19