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Aurora Acquisition (BETR)
NASDAQ:BETR
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Earnings Data
Report Date
Mar 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-$0.08Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -30.20%
|Next Earnings Date:Mar 27, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted successful refinancing initiatives, a strong dividend distribution, and improvements in expense management. However, there were challenges including a decline in investment income, a decrease in net asset value, and persistent non-accrual investments. The sentiment is balanced with both positive and negative aspects considered.Company Guidance
During the Q3 2024 earnings call, Portman Ridge Finance Corporation provided detailed guidance on various financial metrics and strategic initiatives. The company reported a $15.2 million investment income, with $12.7 million from interest income, noting a decline from the previous quarter's $16.3 million. They highlighted a strategic refinancing of the 2018-2 secured notes, which reduced interest expenses by $265,000 on a run rate basis, and extended the maturity of the JPM credit facility, lowering the spread by 30 basis points. Portman Ridge also repurchased 33,429 shares for $600,000, enhancing NAV by $0.01 per share. The board declared a $0.69 per share distribution, yielding a 13.6% annualized return on NAV. The company ended Q3 2024 with a net asset value of $188 million or $20.36 per share, down from $196.4 million or $21.21 per share in the prior quarter, and maintained a gross leverage ratio of 1.4 times. The management expressed optimism for increased market activity in Q4 2024 and beyond, expecting to boost net investment income and shareholder returns through strategic capital deployment and benefiting from a strong pipeline and spillover income.Successful Refinancing Initiatives
The company successfully refinanced the 2018-2 secured notes and improved the debt capital structure by extending the maturity of the JPM credit facility and reducing the spread by 30 basis points. This resulted in additional net spread savings of 28 basis points.
Share Repurchase Program
During Q3 2024, the company repurchased 33,429 shares for approximately $600,000, which was accretive to NAV by $0.01 per share.
Strong Dividend Distribution
The Board approved a $0.69 per share distribution for Q4 2024, representing a 13.6% annualized return on net asset value.
Diversified Investment Portfolio
The debt investment portfolio is spread across 28 industries with 72 unique portfolio companies, with a significant portion being first lien loans.
Improved Expense Management
Total expenses decreased by $0.5 million to $9.4 million due to successful refinancing and lower management and incentive fees.
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BETR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BETR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $14.80 | $14.00 | -5.41% |
| Aug 08, 2024 | $23.85 | $19.39 | -18.70% |
| May 13, 2024 | $22.25 | $20.85 | -6.29% |
| Mar 28, 2024 | $27.20 | $24.84 | -8.68% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Aurora Acquisition (BETR) report earnings?
Aurora Acquisition (BETR) is schdueled to report earning on Mar 27, 2025, TBA Not Confirmed.
What is Aurora Acquisition (BETR) earnings time?
Aurora Acquisition (BETR) earnings time is at Mar 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BETR EPS forecast?
Currently, no data Available
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