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Dec 31, 2024
Prospect Capital Q2 2025 Earnings Report
Prospect Capital Q2 2025 Earnings Report
Key Takeaways
Prospect Capital reported a decline in net investment income and NAV per share, with total investment income down 12.1% YoY. Despite net losses, the company maintained stable distributions to shareholders.
Net Investment Income (NII) per share declined 16.7% YoY to $0.20.
Total investment income decreased 12.1% YoY to $185,466,000.
Net loss improved to -$30,993,000 from -$51,436,000 in the prior year.
NAV per share dropped 12.1% YoY to $7.84.
Revenue by Segment
Forward Guidance
Prospect Capital remains focused on first lien senior secured middle-market loans while managing its structured notes portfolio. The company anticipates stable dividend distributions and strategic exits from non-core assets.
Positive Outlook
- Continued focus on first lien senior secured loans.
- Stable dividend distributions projected.
- Liquidity position remains strong at $1.88B.
- Debt to total assets ratio improved YoY.
- Senior management increased equity ownership to 28.7%.
Challenges Ahead
- NAV per share declined 12.1% YoY.
- NII per share decreased 16.7% YoY.
- Investment income fell 12.1% YoY.
- Unrealized losses impacted overall earnings.
- Debt cost increased slightly to 4.49%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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