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Portman Ridge Finance Corporation (PTMN)
NASDAQ:PTMN
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.6Last Year’s EPS
0.67Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 13, 2025
|% Change Since: -11.03%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook for Portman Ridge Finance Corporation. While there are promising developments such as the proposed merger with Logan Ridge and improvements in nonaccrual investments, the company also faced challenges including a decline in investment income and difficulties in capital deployment. Overall, the company's strategic initiatives and focus on improving operational efficiencies suggest a cautiously optimistic future.Company Guidance
In the recent earnings call, Portman Ridge Finance Corporation provided guidance for fiscal year 2024, highlighting several key metrics. The company faced idiosyncratic challenges within its investment portfolio but remains optimistic about the potential merger with Logan Ridge, which is expected to enhance operational efficiencies and shareholder value. Portman Ridge reported a net investment income of $5.5 million or $0.60 per share for the fourth quarter of 2024, a decrease from the previous quarter. The net asset value (NAV) as of December 31, 2024, was $178.5 million, reflecting a decrease from prior levels. The company executed strategic capital management initiatives, including the refinancing of 2018-2 Secured Notes and the amendment of its JPMorgan Chase bank credit facility, contributing to net spread savings. A new dividend policy was introduced, featuring a quarterly base distribution of $0.47 per share and a supplemental cash distribution of $0.07 per share. Additionally, Portman Ridge repurchased 202,357 shares of common stock, positively impacting NAV by $0.07 per share. Looking ahead to 2025, the company aims to be active in the market, deploying capital to restore net investment income to normalized levels, supported by a healthy pipeline and improved balance sheet.Proposed Merger with Logan Ridge
The company announced a potential merger with Logan Ridge, which is expected to create a stronger, more competitive company with increased scale and operational efficiencies. The merger is supported by the Board of Directors and Sierra Crest has agreed to waive up to $1.5 million in incentive fees over the next 8 quarters following the merger.
Improvement in Nonaccrual Investments
The company reduced nonaccrual investments from 9 to 6, improving overall asset quality.
Stock Repurchase Program
The company repurchased 202,357 shares of common stock for approximately $3.8 million, which was accretive to NAV by $0.07 per share.
High Yield on New Investments
Overall yield on new investments during the quarter was 11.4%.
Refinancing and Credit Facility Amendment
The company refinanced the 2018-2 Secured Notes and amended the JPMorgan Chase bank credit facility, resulting in net spread savings.
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PTMN 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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PTMN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 13, 2025 | $15.86 | $15.23 | -3.97% |
| Nov 07, 2024 | $17.12 | $16.61 | -2.98% |
| Aug 08, 2024 | $17.10 | $16.69 | -2.40% |
| May 08, 2024 | $16.80 | $17.15 | +2.08% |
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 Portman Ridge Finance Corporation (PTMN) report earnings?
Portman Ridge Finance Corporation (PTMN) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is Portman Ridge Finance Corporation (PTMN) earnings time?
Portman Ridge Finance Corporation (PTMN) earnings time is at May 07, 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 PTMN EPS forecast?
PTMN EPS forecast for the fiscal quarter 2025 (Q1) is 0.6.
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