Earnings per Share

9 Months Ended

Sep. 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 nine-month periods ended September 30, 2024 and September 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				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Earnings (numerator)
Net income attributable to common stockholders	$	13,745	$	48,720	$	35,783	$	201,890

Shares (denominator)
Weighted average common shares outstanding (basic)		46,331		45,936		46,166		45,758
Dilutive effect of stock options and stock awards outstanding		111		384		212		538
Adjusted weighted average common shares outstanding (diluted)		46,442		46,320		46,378		46,296

Earnings per share attributable to common stockholders
Basic	$	0.30	$	1.06	$	0.78	$	4.41
Diluted	$	0.30	$	1.05	$	0.77	$	4.36

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		125		271		241		94