SLR Investment reports Q3 EPS 45c, consensus 43c

Reports Q3 revenue $59.8M, consensus $57.98M.”Third quarter NII per share reflected another quarter of stability and ample dividend coverage. SLRC‘s specialty finance loans continue to be a source of unique and differentiated investments, which was visible in an active quarter of originations in SLRC’s asset-based lending strategy, including the acquisition of a factoring business, and contributed to another quarter of growth in the comprehensive investment portfolio,” said Michael Gross, Co-CEO. “SLRC’s ability to pivot to the most attractive risk-adjusted return investments across its strategies provides several alternatives to take advantage of dynamic market conditions and manage risk. Today we are seeing compelling investments across our asset-based lending strategy.” “The consistency of NAV per share in 2024 is a testament to SLR’s multi-strategy approach to private credit investing, providing resiliency across economic and interest rate cycles from asset classes with significant downside protection,” said Bruce Spohler, Co-CEO. “We continue to be encouraged by the overall credit quality of our investment portfolio, which is evidenced by another quarter of NAV stability, no increase in our low level of non-accrual investments, a low level of watch list investments, minimal payment-in-kind income, and broad diversification.”