Earnings per Share and Stock Repurchase Program

3 Months Ended

Mar. 30, 2025

Earnings per Share and Stock Repurchase Program

Earnings per Share and Stock Repurchase Program

7. Earnings per Share and Stock Repurchase Program

The following table sets forth the reconciliation of the calculation of earnings per share:

	For the First Quarter Ended March 30, 2025					For the First Quarter Ended March 31, 2024
	Income		Shares	Per Share		Income		Shares	Per Share
	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount
	(Amounts in millions, except per share information)
Basic EPS:
Net income	$	74.0	33.5	$	2.21	$	72.6	33.4	$	2.17
Effect of dilutive securities:
Common stock equivalents			—		—			0.1		—
Diluted EPS:
Net income	$	74.0	33.5	$	2.21	$	72.6	33.5	$	2.17

On July 31, 2023, the Company’s Board of Directors authorized the repurchase of up to $150 million of the Company’s Class A common stock, to be purchased from time to time on the open market or in privately negotiated transactions. The Company has entered into a Rule 10b5-1 plan, which permits shares to be repurchased under the Company’s stock repurchase program when the Company might otherwise be precluded from doing so under insider trading laws. The repurchase program may be suspended or discontinued at any time, subject to the terms of the Rule 10b5-1 plan the Company entered into with respect to the repurchase program. As of March 30, 2025, there was approximately $141.0 million remaining authorized for share repurchases under the repurchase program.

For the first quarters ended March 30, 2025 and March 31, 2024, the Company repurchased 18,751 shares for $3.9 million and 19,750 shares for $4.0 million, respectively.