Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2025

Basic earnings (loss) per share is based on the weighted average number of common shares outstanding. Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding and all dilutive potential common shares outstanding.

The following table sets forth the computation of basic and diluted earnings (loss) per share:


(Dollars and shares in millions, except per share amounts)	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Numerator:
Net income (loss)	$	(73.6)	$	8.1	$	(75.0)	$	15.9
Denominator:
Weighted-average shares outstanding - basic	18.4		18.6		18.4		18.6
Effect of dilutive shares	—		—		—		—
Weighted-average shares outstanding - diluted	18.4		18.6		18.4		18.6
Basic earnings (loss) per share	$	(4.00)	$	0.44	$	(4.08)	$	0.85
Diluted earnings (loss) per share	$	(4.00)	$	0.44	$	(4.08)	$	0.85

For the three and six months ended June 30, 2025, the assumed vesting of restricted stock units had an antidilutive effect on diluted loss per share and were excluded from the calculation of diluted loss per share. For the three and six months ended June 30, 2025, 0.3 million anti-dilutive shares were excluded from the calculation of diluted loss per share. For the three and six months ended June 30, 2024, 0.1 million shares of restricted stock were excluded from the calculation of diluted earnings per share.