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CION Investment Corp (CION)
NYSE:CION
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Earnings Data
Report Date
Mar 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.35Last Year’s EPS
$0.4Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 0.00%
|Next Earnings Date:Mar 13, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a cautious optimism with significant achievements in debt refinancing and a successful bond offering. However, challenges such as declining net asset value, increased nonaccruals, and competitive market conditions were noted. The sentiment is balanced between positive achievements and notable challenges.Company Guidance
During the third quarter of 2024, CION Investment Corporation reported a net investment income of $0.40 per share, which more than covered the base quarterly dividend of $0.36 per share. Despite a competitive credit environment, the company saw a decrease in net asset value from $16.08 to $15.73, primarily due to fair value marks in its equity portfolio. The company managed its balance sheet actively, with unsecured debt making up the majority of its overall debt funding mix for the first time, and issued a public baby bond offering that was more than three times oversubscribed, marking it as the largest stand-alone baby bond in the publicly listed BDC space. CION's weighted average yield on debt investments was 12.2% at the end of the quarter, with a net debt-to-equity ratio of 1.18x. The portfolio's nonaccruals increased to 1.85% from 1.36%, and the company executed share repurchases of approximately 166,000 shares at an average price of $12.09. The distribution yield based on NAV was 10.5%, while the market price yield was 13.9%.Successful Baby Bond Offering
CION's public baby bond offering was more than 3x oversubscribed, marking it as the largest stand-alone baby bond in the publicly listed BDC space.
Net Investment Income Exceeds Dividend
CION reported $0.40 in quarterly net investment income, covering the $0.36 base quarterly dividend.
Share Repurchase Program
CION repurchased approximately 166,000 shares at an average price of $12.09, reflecting continued belief in undervaluation.
Strong Balance Sheet and Liquidity
CION ended the quarter with over $90 million in cash and short-term investments and $162 million available under credit facilities.
Decreased Weighted Average Cost of Debt
The weighted average cost of debt capital decreased by 20 basis points compared to the second quarter.
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CION 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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CION Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $11.51 | $11.09 | -3.65% |
| Aug 08, 2024 | $10.92 | $11.25 | +3.02% |
| May 09, 2024 | $10.68 | $10.84 | +1.50% |
| Mar 14, 2024 | $9.66 | $9.63 | -0.31% |
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 CION Investment Corp (CION) report earnings?
CION Investment Corp (CION) is schdueled to report earning on Mar 13, 2025, TBA Not Confirmed.
What is CION Investment Corp (CION) earnings time?
CION Investment Corp (CION) earnings time is at Mar 13, 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 CION EPS forecast?
CION EPS forecast for the fiscal quarter 2024 (Q4) is $0.35.
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