EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2024

Basic earnings per share (“EPS”) computations are calculated utilizing the weighted average number of shares of the Company’s common stock outstanding during the periods presented. Diluted EPS is calculated utilizing the weighted average number of shares of the Company’s common stock outstanding adjusted for the effect of dilutive common stock equivalents.

The following table sets forth the computation of basic and diluted EPS (in thousands, except per share data):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023

Numerator:
Net income (loss)	$	(8,154)	$	30,280	$	163	$	70,248

Denominator:
Weighted average shares of common stock outstanding	10,937		10,888		10,923		10,876
Effect of dilutive common stock equivalents	—		29		44		47
Weighted average shares of common stock outstanding	10,937		10,917		10,967		10,923

Earnings per share - basic	$	(0.75)	$	2.78	$	0.01	$	6.46

Earnings per share - diluted	$	(0.75)	$	2.77	$	0.01	$	6.43

The calculation of diluted EPS excluded 326 thousand and 45 thousand antidilutive restricted stock awards for the three months ended June 30, 2024 and 2023, respectively, and 142 thousand and 22 thousand antidilutive restricted stock awards for the six months ended June 30, 2024 and 2023, respectively. EPS is computed independently for each of the periods presented above, and accordingly, the sum of the quarterly earnings per common share may not equal the year-to-date total computed.