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Pennantpark Floating Rate Capit (PFLT)
NYSE:PFLT
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Earnings Data
Report Date
Feb 10, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.32Last Year’s EPS
0.33Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 14, 2018
|% Change Since: 3.23%
|Next Earnings Date:Aug 08, 2018
Earnings Call Sentiment|Positive
The earnings call reflects a positive outlook for PFLT, with significant portfolio growth, strong credit quality, successful refinancing, and a robust investment pipeline. Despite minor challenges such as a slight decrease in NAV and yield compression, the overall sentiment is optimistic with a focus on continued investment and strategic capital deployment.Company Guidance
During the earnings call for the fourth fiscal quarter of 2024, PennantPark Floating Rate Capital (PFLT) provided detailed guidance on various metrics reflecting their performance and outlook. Core net investment income was reported at $0.32 per share, with the portfolio growing 20% from the previous quarter to $2 billion. The company originated $446 million in investments at an 11% weighted average yield, and subsequent investments of over $330 million yielded 10.2%. The debt-to-equity ratio stood at 1.35x, with a target of 1.5x, while the weighted average leverage ratio of the portfolio through debt security was 4.1x, with interest coverage at 2.3x. Notably, the refinancing and upsize of a $351 million term debt securitization transaction achieved a weighted average spread of 1.89%, down 50 basis points. Despite GAAP and adjusted NAV decreasing by 0.3% to $11.31 per share, the credit quality remained robust with nonaccruals at only 0.4% of the portfolio at cost. The company emphasized its strategic focus on core middle market loans, characterized by a debt-to-EBITDA ratio of 3.4x, and highlighted its strong track record with equity co-investments, achieving a 26% IRR and a 2x multiple on invested capital since inception.Strong Portfolio Growth
The portfolio grew by 20% to $2 billion from the prior quarter, with $446 million invested in new and existing portfolio companies at an average yield of 11%.
Positive Credit Quality and Low Nonaccruals
Nonaccruals represent only 0.4% of the portfolio at cost and 0.2% at market value, highlighting strong credit quality.
Successful Refinancing and Increased Liquidity
Closed a $351 million term debt securitization with a reduced spread of 1.89%, and increased total commitments to $636 million in the revolving credit facility.
Robust Investment Pipeline
Active investment with over $330 million invested subsequent to quarter end, indicating a strong pipeline for the remainder of 2024.
Equity Co-Investment Returns
Since inception, $540 million invested in equity co-investments with an IRR of 26% and a 2x multiple on invested capital.
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PFLT 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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PFLT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 25, 2024 | $10.82 | $10.86 | +0.37% |
| Aug 07, 2024 | $10.16 | $10.20 | +0.39% |
| May 08, 2024 | $10.68 | $10.57 | -1.03% |
| Feb 07, 2024 | $10.00 | $10.14 | +1.40% |
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 Pennantpark Floating Rate Capit (PFLT) report earnings?
Pennantpark Floating Rate Capit (PFLT) is schdueled to report earning on Feb 10, 2025, TBA Not Confirmed.
What is Pennantpark Floating Rate Capit (PFLT) earnings time?
Pennantpark Floating Rate Capit (PFLT) earnings time is at Feb 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 PFLT EPS forecast?
PFLT EPS forecast for the fiscal quarter 2025 (Q1) is 0.32.
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