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BlackRock TCP Capital Corp. (TCPC)
NASDAQ:TCPC
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.33Last Year’s EPS
0.45Same Quarter Last Year
Moderate Sell
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 27, 2025
|% Change Since: -9.64%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a challenging quarter for BlackRock TCP Capital Corp, with significant markdowns and increased non-accruals affecting financial performance. However, management demonstrated a commitment to shareholder interests through fee waivers and special dividends, while maintaining a strong portfolio and strategic focus on the middle market.Company Guidance
During the BlackRock TCP Capital Corp's Fourth Quarter and Year-End 2024 Earnings Conference Call, important guidance was provided regarding the company's financial performance and strategic actions moving forward. The company reported a full-year adjusted net investment income of $1.52 per share, down from $1.84 per share in 2023, with an annualized ROE of 14.5%, impacted by lower base rates and increased non-accruals. Non-accruals rose to 5.6% of the portfolio at fair market value from 3.8% the previous quarter, while NAV per share decreased to $9.23 from $10.11. The company also marked down positions in companies like Razor, Securus, and Astra, with Razor accounting for 70% of markdowns. To support shareholders, the board reduced the regular dividend to $0.25 per share for Q1 2025, declared a $0.04 special dividend for the same quarter, and the advisor agreed to waive one-third of the base management fee for three quarters beginning January 1, 2025. The portfolio's fair market value was approximately $1.8 billion, with 91.2% in senior secured loans, and the weighted average effective yield was 12.4%. The company continues to focus on maintaining a diverse and highly selective investment approach, emphasizing first lien loans and leveraging the broader BlackRock platform.Strong Portfolio Performance
91.2% of the portfolio was invested in senior secured loans, 94.5% of which were floating rate. The portfolio's weighted average effective yield was 12.4% at year-end.
Positive Investment Activities
During Q4, the company deployed $121 million into nine new and nine existing portfolio companies, focusing on the core middle market and emphasizing seniority in the capital structure.
Management Fee Waiver
The advisor voluntarily agreed to waive one-third of the base management fee for three quarters in 2025, supporting shareholder interests amid NAV declines.
Special Dividends Declared
A $0.04 special dividend for Q1 2025 was declared, with intentions to declare a special dividend of at least $0.02 in Q2 and Q3 of 2025.
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TCPC 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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TCPC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 27, 2025 | $9.34 | $8.44 | -9.64% |
| Nov 06, 2024 | $7.43 | $8.14 | +9.56% |
| Aug 07, 2024 | $9.12 | $8.31 | -8.88% |
| May 01, 2024 | $8.95 | $9.26 | +3.46% |
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 BlackRock TCP Capital Corp. (TCPC) report earnings?
BlackRock TCP Capital Corp. (TCPC) is schdueled to report earning on Apr 30, 2025, TBA Not Confirmed.
What is BlackRock TCP Capital Corp. (TCPC) earnings time?
BlackRock TCP Capital Corp. (TCPC) earnings time is at Apr 30, 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 TCPC EPS forecast?
TCPC EPS forecast for the fiscal quarter 2025 (Q1) is 0.33.
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