Ellington Financial Inc. Earnings Per Share Disclosure
| Year Ended December 31, | ||||||||||||||||||||
| (In thousands except share amounts) | 2024 | 2023 | 2022 | |||||||||||||||||
| Net income (loss) attributable to common stockholders | $ | 117,829 | $ | 60,902 | $ | (85,339) | ||||||||||||||
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1) | 1,140 | 730 | (1,082) | |||||||||||||||||
Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests | 118,969 | 61,632 | (86,421) | |||||||||||||||||
| Dividends declared: | ||||||||||||||||||||
| Common stockholders | (139,582) | (123,381) | (108,263) | |||||||||||||||||
| Convertible Non-controlling Interests | (1,342) | (1,458) | (1,378) | |||||||||||||||||
| Total dividends declared to common stockholders and Convertible Non-controlling Interests | (140,924) | (124,839) | (109,641) | |||||||||||||||||
| Undistributed (Distributed in excess of) earnings: | ||||||||||||||||||||
| Common stockholders | (21,753) | (62,479) | (193,602) | |||||||||||||||||
| Convertible Non-controlling Interests | (202) | (728) | (2,460) | |||||||||||||||||
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests | $ | (21,955) | $ | (63,207) | $ | (196,062) | ||||||||||||||
| Weighted average shares outstanding (basic and diluted): | ||||||||||||||||||||
| Weighted average shares of common stock outstanding | 86,854,729 | 68,252,096 | 59,852,647 | |||||||||||||||||
| Weighted average Convertible Non-controlling Interest Units outstanding | 836,958 | 811,067 | 763,043 | |||||||||||||||||
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding | 87,691,687 | 69,063,163 | 60,615,690 | |||||||||||||||||
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit: | ||||||||||||||||||||
| Distributed | $ | 1.60 | $ | 1.80 | $ | 1.80 | ||||||||||||||
| Undistributed (Distributed in excess of) | (0.24) | (0.91) | (3.23) | |||||||||||||||||
| $ | 1.36 | $ | 0.89 | $ | (1.43) | |||||||||||||||
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit: | ||||||||||||||||||||
| Distributed | $ | 1.60 | $ | 1.80 | $ | 1.80 | ||||||||||||||
| Undistributed (Distributed in excess of) | (0.24) | (0.91) | (3.23) | |||||||||||||||||
| $ | 1.36 | $ | 0.89 | $ | (1.43) | |||||||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Mar 3, 2025 | Showing above |
| 2020 | Mar 16, 2021 | |
| 2019 | Mar 13, 2020 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.