ClarificationJun 1, 2026, 06:46 PM
U.S. Global Investors to Restate Q3 EPS by $0.02 Due to Error
AI Summary
U.S. Global Investors announced it will restate its earnings per share (EPS) figures for the three-month and nine-month periods ended March 31, 2026, due to a miscalculation of weighted average shares outstanding. The error, a clerical omission in a supporting spreadsheet, resulted in an overstatement of basic and diluted EPS by $0.02 for the three months and $0.01 for the nine months. The company clarified that this miscalculation had no impact on reported net income, total revenues, operating income, or cash position. CEO Frank Holmes reassured shareholders that underlying business fundamentals remain strong, with Q3 net income of $2.7 million and AUM reaching $1.6 billion.
Key Highlights
- U.S. Global Investors will restate basic and diluted EPS for Q3 and nine-month periods ended March 31, 2026.
- Q3 EPS was overstated by $0.02; corrected basic and diluted EPS is $0.21.
- Q3 weighted average shares were understated by 702,484 shares.
- Nine-month EPS was overstated by $0.01; weighted average shares understated by 230,743 shares.
- The miscalculation did not impact net income, total revenues, operating income, or cash position.
- Net income for the quarter ended March 31, 2026, was $2.7 million.
- Average assets under management (AUM) reached $1.6 billion.
- Company repurchased approximately 2.7 million shares over five years, representing a 20%+ reduction.
Price Impact
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