Earnings Per Share

6 Months Ended

Mar. 31, 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 March 31,				Six Months Ended March 31,
in thousands (except per share data)	2023		2022		2023		2022
Numerator:
Income from continuing operations	$	34,707	$	44,678	$	59,115	$	79,573
Loss from discontinued operations, net of tax	—		(6)		(77)		(16)
Net income	$	34,707	$	44,672	$	59,038	$	79,557

Denominator:
Basic weighted-average shares	30,394		30,594		30,464		30,464
Dilutive effect of restricted stock awards	211		222		234		300
Dilutive effect of stock options	5		7		4		8
Diluted weighted-average shares(a)	30,610		30,823		30,702		30,772

Basic income per share:
Continuing operations	$	1.14	$	1.46	$	1.94	$	2.61
Discontinued operations	—		—		—		—
Total	$	1.14	$	1.46	$	1.94	$	2.61

Diluted income per share:
Continuing operations	$	1.13	$	1.45	$	1.93	$	2.59
Discontinued operations	—		—		—		—
Total	$	1.13	$	1.45	$	1.93	$	2.59

(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 March 31,		Six Months Ended March 31,
in thousands	2023	2022	2023	2022
Stock options	12	13	12	31
Time-based restricted stock	119	188	134	—