Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Logan Ridge Finance (LRFC)
NASDAQ:LRFC
Holding LRFC?
Track your performance easily
Earnings Data
Report Date
Mar 10, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.37Last Year’s EPS
$0.22Same Quarter Last Year
Based on 0 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 2.12%
|Next Earnings Date:Mar 10, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted several positive developments, including a successful exit from a major investment, increased dividends, and improved credit facility terms. However, there were notable challenges, such as decreased investment income and net asset value. Overall, the sentiment of the call leans slightly positive due to significant achievements and strategic advancements.Company Guidance
During the Q3 2024 earnings call for Logan Ridge Finance Corporation (LRFC), several key metrics and strategic updates were shared. The company successfully exited its largest investment, Nth Degree Investment Group, for $17.5 million, which exceeded its previously reported fair value by $2 million and constituted 7.9% of the company's investments at fair value. This sale is part of a broader strategy to reallocate capital into interest-earning assets, thereby enhancing the portfolio's long-term earnings potential. As of September 30, 2024, the fair value of Logan's portfolio was $176.5 million across 59 companies, with 65.4% of investments originating from the BC Partners Credit platform. The portfolio's debt investments, comprising 86.8% of the total portfolio, had a weighted average annualized yield of approximately 12.3%. Nonaccrual status remained unchanged with four debt investments in three companies, representing 8.8% of the portfolio's cost. The company reported $5.1 million in investment income for the quarter, with net investment income increasing to $1 million or $0.37 per share. Although the net asset value decreased to $86.3 million, a favorable amendment to the revolving credit facility with KeyBank extended terms and reduced costs, which increased Logan Ridge's borrowing capacity. A fourth-quarter dividend of $0.36 per share was declared, reflecting a significant increase from the $0.18 per share at the start of 2023, underscoring the company's turnaround success.Successful Exit of Largest Investment
Exited Nth Degree Investment Group for $17.5 million, $2 million above its previously reported fair value, representing a transformative event for the company.
Increased Dividend
Fourth quarter distribution declared at $0.36 per share, doubling from $0.18 per share in the first quarter of 2023, highlighting the company's successful turnaround.
Amended and Extended Credit Facility
Revolving credit facility with KeyBank was amended and extended, reducing margins and extending maturity dates, resulting in reduced overall cost of capital and increased borrowing capacity.
Stable Credit Performance
No new investments placed on nonaccrual status during the quarter, indicating stable credit performance.
Increased Exposure to BC Partners Credit Platform
65.4% of the investment portfolio at fair value was invested in assets originated by the BC Partners Credit platform, up from 59.4% in the last quarter.
---
LRFC 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
---
LRFC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $24.64 | $24.84 | +0.81% |
| Aug 08, 2024 | $21.17 | $21.07 | -0.47% |
| May 08, 2024 | $21.07 | $21.29 | +1.04% |
| Mar 26, 2024 | $21.56 | $21.72 | +0.74% |
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.
---
FAQ
When does Logan Ridge Finance (LRFC) report earnings?
Logan Ridge Finance (LRFC) is schdueled to report earning on Mar 10, 2025, TBA Not Confirmed.
What is Logan Ridge Finance (LRFC) earnings time?
Logan Ridge Finance (LRFC) earnings time is at Mar 10, 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 LRFC EPS forecast?
LRFC EPS forecast for the fiscal quarter 2024 (Q4) is $0.37.
---