GREENLIGHT CAPITAL RE, LTD. Earnings Per Share Disclosure
Years ended December 31, | 2025 | 2024 | 2023 | ||||||||||||||
| Numerator for EPS: | |||||||||||||||||
| Net income - basic | $ | 74,832 | $ | 42,816 | $ | 86,830 | |||||||||||
| Net income - diluted | $ | 74,832 | $ | 42,816 | $ | 86,830 | |||||||||||
| Denominator for EPS: | |||||||||||||||||
| Weighted average shares outstanding - basic | 33,816,820 | 34,097,572 | 34,067,974 | ||||||||||||||
| Effect of dilutive employee and director share-based awards | 685,705 | 555,881 | 729,885 | ||||||||||||||
| Weighted average shares outstanding - diluted | 34,502,525 | 34,653,453 | 34,797,859 | ||||||||||||||
| Anti-dilutive stock options outstanding | 579,636 | 870,319 | 652,140 | ||||||||||||||
EPS: | |||||||||||||||||
| Basic | $ | 2.21 | $ | 1.26 | $ | 2.55 | |||||||||||
| Diluted | 2.17 | 1.24 | 2.50 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 9, 2026 | Showing above |
| 2024 | Mar 10, 2025 | |
| 2023 | Mar 5, 2024 | |
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.