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Dec 31, 2022
PennantPark Floating Rate Q1 2023 Earnings Report
Announced financial results for the first fiscal quarter ended December 31, 2022.
Key Takeaways
PennantPark Floating Rate Capital Ltd. reported a net investment income of $13.7 million, or $0.30 per share, for the quarter ended December 31, 2022. The company's investment portfolio totaled $1,151.1 million, with a weighted average yield on debt investments of 11.3%. A distribution of $0.10 per share was declared, marking a 5.3% increase from the previous distribution.
Net investment income was $13.7 million, or $0.30 per share.
The Board of Directors declared a distribution of $0.10 per share, a 5.3% increase.
The investment portfolio totaled $1,151.1 million with a weighted average yield on debt investments of 11.3%.
Invested $65.6 million in four new and 29 existing portfolio companies.
Forward Guidance
The company anticipates optimizing its balance sheets at both PFLT and PennantPark Senior Secured Loan Fund I LLC, which it believes will increase net investment income.
Positive Outlook
- Increase net investment income
- Primary focus on lower risk senior secured floating rate loans
- Positioned to preserve capital
- Protection against rising interest rates
- Protection against inflation
Historical Earnings Impact
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Avg. Return Before/After Earnings
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