Kearny Financial Corp.KRNY

Kearny Financial Corp. Earnings Per Share Disclosure

10-KFiled Aug 21, 20252 min read
Net Income (Loss) per Common Share (“EPS”)
Basic EPS is based on the weighted average number of common shares actually outstanding, including both vested and unvested restricted stock awards, adjusted for ESOP shares not yet committed to be released. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as outstanding stock options or unvested restricted stock units (“RSU”), were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Diluted EPS is calculated by adjusting the weighted average number of shares of common stock outstanding to include the effect of contracts or securities exercisable or which could be converted into common stock, if dilutive, using the treasury stock method. Shares issued and reacquired during any period are weighted for the portion of the period they were outstanding.
The following schedule shows the Company’s earnings per share calculations for the periods presented:
For the Year Ended June 30,
202520242023
(In Thousands, Except Per Share Data)
Net income (loss)$26,075 $(86,667)$40,811 
Weighted average number of common shares outstanding - basic62,508 62,444 64,804 
Effect of dilutive securities208 — — 
Weighted average number of common shares outstanding- diluted62,716 62,444 64,804 
Basic earnings per share$0.42 $(1.39)$0.63 
Diluted earnings per share$0.42 $(1.39)$0.63 
Stock options for 2,745,000, 2,751,902 and 2,983,530 shares of common stock were not considered in computing diluted earnings per share at June 30, 2025, 2024 and 2023, respectively, because they were considered anti-dilutive. In addition, 450,203, 689,252 and 497,664 RSUs were not considered in computing diluted earnings per share at June 30, 2025, 2024 and 2023, respectively, because they were considered anti-dilutive.

Historical Timeline

Fiscal YearFiled
2025Aug 21, 2025Showing above
2024Aug 23, 2024
2023Aug 25, 2023
2022Aug 26, 2022
2021Aug 27, 2021

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.

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