Earnings Per Share

9 Months Ended

Jun. 30, 2023

Basic income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted income (loss) per share adjusts the basic income (loss) per share for the effects of any potentially dilutive securities in periods in which the Company has net income and such effects are dilutive under the treasury stock method.

Following is a summary of the components of basic and diluted income per share for the periods presented:


	Three Months Ended June 30,				Nine Months Ended June 30,
in thousands (except per share data)	2023		2022		2023		2022
Numerator:
Income from continuing operations	$	43,817	$	54,312	$	102,932	$	133,885
Gain (loss) from discontinued operations, net of tax	—		12		(77)		(4)
Net income	$	43,817	$	54,324	$	102,855	$	133,881

Denominator:
Basic weighted-average shares	30,395		30,512		30,335		30,480
Dilutive effect of restricted stock awards	458		354		309		319
Dilutive effect of stock options	7		6		5		7
Diluted weighted-average shares(a)	30,860		30,872		30,649		30,806

Basic income per share:
Continuing operations	$	1.44	$	1.78	$	3.39	$	4.39
Discontinued operations	—		—		—		—
Total	$	1.44	$	1.78	$	3.39	$	4.39

Diluted income per share:
Continuing operations	$	1.42	$	1.76	$	3.36	$	4.35
Discontinued operations	—		—		—		—
Total	$	1.42	$	1.76	$	3.36	$	4.35

(a) The following potentially dilutive shares were excluded from the calculation of diluted income per share as a result of their anti-dilutive effect.


	Three Months Ended June 30,		Nine Months Ended June 30,
in thousands	2023	2022	2023	2022
Stock options	13	13	14	25
Time-based restricted stock	—	187	128	—