Loading...
•
Dec 31, 2023
BlackRock TCP Q4 2023 Earnings Report
BlackRock TCP Capital Corp. reported solid net investment income, driven by consistent execution and strategic investments.
Key Takeaways
BlackRock TCP Capital Corp. announced its financial results for the fourth quarter and year ended December 31, 2023. The company reported net investment income of $0.44 per share, exceeding the regular dividend of $0.34 per share. However, net asset value per share decreased to $11.90. Total investment income for the quarter was $50.8 million.
Net investment income for Q4 2023 was $25.3 million, or $0.44 per share.
Net asset value per share was $11.90 at the end of December 31, 2023.
Total acquisitions during Q4 2023 were $40.6 million, and total dispositions were $42.2 million.
A first quarter dividend of $0.34 per share was declared, payable on March 29, 2024.
Forward Guidance
BlackRock TCP Capital Corp. anticipates that the proposed merger with BlackRock Capital Investment Corporation will close in the first quarter of 2024. The company also believes that the merger will create substantial scale, operational cost synergies, and better access to capital on improved terms, and that the transaction will be accretive to NII and further bolster the earnings power of the combined company.
Positive Outlook
- Merger expected to close in the first quarter of 2024.
- Merger expected to create substantial scale.
- Merger expected to create operational cost synergies.
- Merger expected to provide better access to capital on improved terms.
- Merger anticipated to be accretive to NII and further bolster the earnings power of the combined company.
Challenges Ahead
- Changes in general economic conditions.
- Changes in the conditions of the industries in which the company makes investments.
- Risks associated with the availability and terms of financing.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...