EARNINGS PER SHARE

9 Months Ended

Sep. 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 September 30,				Nine months ended September 30,
	2024		2023		2024		2023

Numerator:
Net income	$	1,129	$	23,131	$	1,290	$	93,380

Denominator:
Weighted average shares of common stock outstanding	10,937		10,892		10,928		10,881
Effect of dilutive common stock equivalents	34		41		31		44
Weighted average shares of common stock outstanding	10,971		10,933		10,959		10,925

Earnings per share - basic	$	0.10	$	2.12	$	0.12	$	8.58

Earnings per share - diluted	$	0.10	$	2.12	$	0.12	$	8.55

The calculation of diluted EPS excluded 395 thousand and 13 thousand antidilutive restricted stock awards for the three months ended September 30, 2024 and 2023, respectively, and 331 thousand and 15 thousand antidilutive restricted stock awards for the nine months ended September 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 share may not equal the year-to-date total computed.