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Jun 30, 2020
PennantPark Q3 2020 Earnings Report
Announced financial results for the third fiscal quarter ended June 30, 2020.
Key Takeaways
PennantPark Investment Corporation reported a 7% increase in adjusted NAV, reduced leverage, and increased liquidity. They also announced the formation of PSLF, a joint venture with Pantheon.
Portfolio totaled $1,333.3 million as of June 30, 2020.
Invested $11.7 million in one new and 12 existing portfolio companies with a weighted average yield on debt investments of 6.8% for the three months ended June 30, 2020.
Investment income for the three months ended June 30, 2020 was $25.4 million.
Net investment income totaled $11.0 million, or $0.16 per share, for the three months ended June 30, 2020.
PennantPark
PennantPark
PennantPark Revenue by Segment
Revenue by Segment
First Lien Secured Debt Revenue
CapyFin.comSecond Lien Secured Debt Revenue
CapyFin.comSubordinated Debt Revenue
CapyFin.com Forward Guidance
The COVID-19 pandemic is expected to continue to have a material adverse impact on future net investment income, the fair value of portfolio investments, and the results of operations and financial condition of portfolio companies.
Challenges Ahead
- COVID-19 pandemic will continue to have a material adverse impact on future net investment income.
- COVID-19 pandemic will continue to have a material adverse impact on the fair value of our portfolio investments.
- COVID-19 pandemic will continue to have a material adverse impact on the results of operations of our portfolio companies.
- COVID-19 pandemic will continue to have a material adverse impact on the financial condition of our portfolio companies.
- Significant reduction of our net asset value as of June 30, 2020 as compared to our net asset value as of September 30, 2019.