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Prospect Capital Corp. (PSEC)
NASDAQ:PSEC
Holding PSEC?
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Earnings Data
Report Date
Feb 05, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
0.14Last Year’s EPS
0.24Same Quarter Last Year
Moderate Sell
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2018
|% Change Since: -14.62%
|Next Earnings Date:Aug 28, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook with significant emphasis on the strategic shift towards first lien senior secured loans and an increase in recurring income. However, concerns were noted regarding the decline in CLO and real estate investment contributions, along with potential future decreases in shareholder distribution rates.Company Guidance
In the Q1 2025 earnings call for Prospect Capital Corporation (PSEC), the company provided several key metrics and strategic insights. The net investment income (NII) for the September quarter was reported at $89.9 million, or $0.21 per common share, with a net asset value (NAV) of $3.51 billion, or $8.10 per common share. The net debt to total assets ratio stood at 29.7%, with unsecured debt plus preferred making up 86% of total debt. Prospect Capital has distributed $4.4 billion, or $21.25 per share, since its inception. The company announced monthly common shareholder distributions of $0.045 per share for November, December, and January, with future announcements planned for February. The firm is actively rotating structured credit, CLO equity, and real estate investments into its core business of first lien senior secured middle-market loans, which now comprise 64.9% of its portfolio, up 7.6% from the previous year. The company has realized a 94% interest income as a percentage of total income, an increase of over 800 basis points year-over-year. Prospect Capital's middle-market investments are yielding annualized returns of 11.8% and have targeted levered returns between 18% and 20%. Additionally, the firm maintains a robust balance sheet with $4.9 billion in unencumbered assets and $1.5 billion in available cash and undrawn credit, supported by investment-grade ratings and a diverse set of debt tranches extending up to 28 years.Net Investment Income (NII)
Net investment income for the September quarter was $89.9 million or $0.21 per common share.
First Lien Senior Secured Loans Increase
First lien loans as a percentage of total investments have now reached 65%, an increase of over 700 basis points for the year-over-year quarterly period.
Interest Income Growth
Recurring income, as shown by interest income as a percent of total income, reached 94%, an increase of over 800 basis points for the year-over-year quarterly period.
Strong Credit Facility Support
Prospect Capital Corporation has $2.12 billion of commitments from 48 banks, demonstrating strong support from the lender community.
Unsecured Debt Maturity Extension
Prospect Capital Corporation has extended its liability duration out 28 years with its debt maturities extending through 2052.
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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 |
|---|---|---|---|
| Nov 08, 2024 | $5.13 | $4.38 | -14.62% |
| Aug 28, 2024 | $4.81 | $4.79 | -0.42% |
| May 08, 2024 | $4.79 | $4.99 | +4.18% |
| Feb 08, 2024 | $5.16 | $4.80 | -6.98% |
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 Feb 05, 2025, TBA Not Confirmed.
What is Prospect Capital Corp. (PSEC) earnings time?
Prospect Capital Corp. (PSEC) earnings time is at Feb 05, 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 (Q2) is 0.14.
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