Ellington Financial Inc. Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||
| (In thousands except share amounts) | 2025 | 2024 | 2023 | ||||||||||||||
| Net income (loss) attributable to common stockholders | $ | 118,743 | $ | 117,829 | $ | 60,902 | |||||||||||
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1) | 1,315 | 1,140 | 730 | ||||||||||||||
Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests | 120,058 | 118,969 | 61,632 | ||||||||||||||
| Dividends declared: | |||||||||||||||||
| Common stockholders | (156,594) | (139,582) | (123,381) | ||||||||||||||
| Convertible Non-controlling Interests | (1,722) | (1,342) | (1,458) | ||||||||||||||
| Total dividends declared to common stockholders and Convertible Non-controlling Interests | (158,316) | (140,924) | (124,839) | ||||||||||||||
| Undistributed (Distributed in excess of) earnings: | |||||||||||||||||
| Common stockholders | (37,851) | (21,753) | (62,479) | ||||||||||||||
| Convertible Non-controlling Interests | (407) | (202) | (728) | ||||||||||||||
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests | $ | (38,258) | $ | (21,955) | $ | (63,207) | |||||||||||
| Weighted average shares outstanding (basic and diluted): | |||||||||||||||||
| Weighted average shares of common stock outstanding | 99,437,979 | 86,854,729 | 68,252,096 | ||||||||||||||
| Weighted average Convertible Non-controlling Interest Units outstanding | 1,090,885 | 836,958 | 811,067 | ||||||||||||||
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding | 100,528,864 | 87,691,687 | 69,063,163 | ||||||||||||||
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit: | |||||||||||||||||
| Distributed | $ | 1.56 | $ | 1.60 | $ | 1.80 | |||||||||||
| Undistributed (Distributed in excess of) | (0.37) | (0.24) | (0.91) | ||||||||||||||
| $ | 1.19 | $ | 1.36 | $ | 0.89 | ||||||||||||
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit: | |||||||||||||||||
| Distributed | $ | 1.56 | $ | 1.60 | $ | 1.80 | |||||||||||
| Undistributed (Distributed in excess of) | (0.37) | (0.24) | (0.91) | ||||||||||||||
| $ | 1.19 | $ | 1.36 | $ | 0.89 | ||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Mar 16, 2021 | |
| 2019 | Mar 13, 2020 | |
| 2018 | Mar 14, 2019 | |
| 2017 | Mar 15, 2018 | |
| 2016 | Mar 16, 2017 | |
| 2015 | Mar 11, 2016 | |
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.