Earnings Per Share

6 Months Ended

Mar. 31, 2026

Basic (loss) income per share is calculated by dividing net (loss) income by the weighted-average number of shares outstanding during the period. Diluted (loss) income per share adjusts the basic (loss) income 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 (loss) income per share for the periods presented:


	Three Months Ended March 31,				Six Months Ended March 31,
in thousands (except per share data)	2026		2025		2026		2025
Numerator:
Net (loss) income	$	(904)	$	12,778	$	(33,501)	$	15,908

Denominator:
Basic weighted-average shares	27,990		30,119		28,464		30,274
Dilutive effect of restricted stock awards	—		146		—		201
Dilutive effect of stock options	—		—		—		4
Diluted weighted-average shares(a)	27,990		$	30,265	28,464		30,479

(Loss) income per share:
Basic	$	(0.03)	$	0.42	$	(1.18)	$	0.53
Diluted	$	(0.03)	$	0.42	$	(1.18)	$	0.52

(a) The following potentially dilutive shares were excluded from the calculation of diluted (loss) income per share as a result of their anti-dilutive effect. Due to the reported net loss for the three and six months ended March 31, 2026, all common stock equivalents were excluded from the computation of diluted loss per share for that respective period because inclusion would have resulted in anti-dilution.


	Three Months Ended March 31,		Six Months Ended March 31,
in thousands	2026	2025	2026	2025
Stock options	22	1	22	1
Time-based restricted stock	569	179	569	102
Performance-based restricted stock	337	48	337	—