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Sep 30, 2023
PennantPark Floating Rate Q4 2023 Earnings Report
Announced financial results for the fourth quarter and fiscal year ended September 30, 2023
Key Takeaways
PennantPark Floating Rate Capital Ltd. reported solid performance in Q4 2023 with a portfolio totaling $1,067.2 million. Net investment income was $18.5 million, or $0.32 per share. The company invested $93.5 million in new and existing portfolio companies. As of September 30, 2023, the portfolio had a weighted average yield on debt investments of 12.6%.
Investment portfolio totaled $1,067.2 million.
GAAP net asset value per share was $11.13, with a quarterly increase of 1.6%.
Net investment income was $18.5 million, or $0.32 per share.
Weighted average yield on debt investments at quarter-end was 12.6%.
Forward Guidance
The Company expects to report certain material weaknesses in internal control over financial reporting in Item 9A of its Annual Report on Form 10-K for the fiscal year ended September 30, 2023. The material weaknesses identified to date relate to the control environment over the Company’s review process of its cash and par reconciliations and its interest income analysis. The material weaknesses are not expected to impact the accuracy of the Company’s financial statements to be reported in the 2023 Annual Report.
Historical Earnings Impact
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