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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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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