Earnings Per Share

6 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

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

	Three Months Ended March 31,				Six Months Ended March 31,
in thousands (except per share data)	2024		2023		2024		2023
Numerator:
Income from continuing operations	$	39,171	$	34,707	$	60,899	$	59,115
Loss from discontinued operations, net of tax	—		—		—		(77)
Net income	$	39,171	$	34,707	$	60,899	$	59,038
Denominator:
Basic weighted-average shares	30,769		30,394		30,681		30,464
Dilutive effect of restricted stock awards	357		211		375		234
Dilutive effect of stock options	7		5		8		4
Diluted weighted-average shares(a)	31,133		30,610		31,064		30,702
Basic income per share:
Continuing operations	$	1.27	$	1.14	$	1.98	$	1.94
Discontinued operations	—		—		—		—
Total	$	1.27	$	1.14	$	1.98	$	1.94
Diluted income per share:
Continuing operations	$	1.26	$	1.13	$	1.96	$	1.93
Discontinued operations	—		—		—		—
Total	$	1.26	$	1.13	$	1.96	$	1.93

(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	2024	2023	2024	2023
Stock options	—	12	—	12
Time-based restricted stock	1	119	2	134