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Prospect Capital Corp. (PSEC)
NASDAQ:PSEC
Earnings Data
Report Date
May 13, 2025TBA Not Confirmed
Period Ending
2025 (Q3)Consensus EPS Forecast
0.14Last Year’s EPS
0.23Same Quarter Last Year
Moderate Sell
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 10, 2025
|% Change Since: 4.80%
|Next Earnings Date:May 13, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance, particularly in net investment income and distribution history. The company's diversified funding and investment yields also presented a positive outlook. However, there were concerns about decreased payment in kind income and net repayments surpassing originations, which could suggest potential challenges in maintaining growth momentum.Company Guidance
During the Prospect Capital Corporation's second fiscal quarter earnings call, key financial metrics and strategic updates were shared. The company reported a net investment income (NII) of $86.4 million or $0.20 per common share, with a net asset value (NAV) of $3.4 billion, equating to $7.84 per common share as of December 31st. The net debt to total assets stood at 28.1%, and unsecured debt constituted 91.9% of total debt plus preferred. Since inception, the company has distributed over $4.4 billion or $21.39 per share, representing 2.7 times the December 2024 NAV per share. In the December quarter, 81% of investments had underlying secured debt, with first lien debt making up 64.9% of the portfolio. Prospect Capital also announced monthly shareholder distributions of $0.045 per share for February, March, and April, with plans to announce the next distributions in May. The company's investment strategy includes rotating assets into first lien senior secured loans and exiting from equity-linked assets. Additionally, Prospect Capital's portfolio as of December included 114 companies across 33 industries, with an aggregate fair value of $7.1 billion. The company holds $1.9 billion in combined balance sheet cash and undrawn revolving credit facility commitments and maintains $4.8 billion of unencumbered assets, representing about 66% of its portfolio.Strong Net Investment Income
Net investment income (NII) for the December quarter was $86.4 million or $0.20 per common share.
Record Distributions
Since inception, the company has distributed over $4.4 billion or $21.39 per share. Monthly common shareholder distributions of $0.045 per share were announced for February, March, and April.
High Yield on Investments
Performing interest-bearing investments generated an annualized yield of 11.2% as of December. The subordinated structured notes portfolio had a trailing twelve-month average cash yield of 24.4%.
Robust Diversified Funding
Combined balance sheet cash and undrawn revolving credit facility commitments stood at $1.9 billion. The company has $2.12 billion of commitments from 48 banks, demonstrating strong support.
Significant First Lien Debt Originations
Investment originations in the December quarter aggregated $135 million, with $120 million being first lien senior secured loans, representing close to 90% of total originations.
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PSEC 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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PSEC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 10, 2025 | $4.17 | $4.29 | +2.88% |
| Nov 08, 2024 | $5.07 | $4.34 | -14.40% |
| Aug 28, 2024 | $4.76 | $4.74 | -0.42% |
| May 08, 2024 | $4.74 | $4.94 | +4.22% |
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 Prospect Capital Corp. (PSEC) report earnings?
Prospect Capital Corp. (PSEC) is schdueled to report earning on May 13, 2025, TBA Not Confirmed.
What is Prospect Capital Corp. (PSEC) earnings time?
Prospect Capital Corp. (PSEC) earnings time is at May 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 PSEC EPS forecast?
PSEC EPS forecast for the fiscal quarter 2025 (Q3) is 0.14.
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