TriplePoint Venture Growth BDC (TPVG) Tops Q1 EPS by 3c

TriplePoint Venture Growth BDC (NYSE: TPVG) reported Q1 EPS of $0.50, $0.03 better than the analyst estimate of $0.47.

• Record total investment income of $14.3 million, or $0.89 per share, and net investment income of $7.9 million, or $0.50 per share, an increase of 29.1% and 17.7%, respectively, compared to the first quarter of 2016.
• 16.8% weighted average annualized portfolio yield on debt investments for the first quarter.
• $53.3 million of prepayments primarily from two portfolio exits during the quarter including the acquisitions of Simplivity, Inc. and ModCloth, Inc.
• $48.8 million of signed term sheets; closed $37.0 million of new debt commitments to venture growth stage companies.
• Funded $12.0 million in new debt investments and $2.4 million in equity investments.
• Total investment portfolio fair value at March 31, 2017 of $328.4 million, an increase of 16.1% compared to the first quarter of 2016.
• Portfolio includes 29 warrants and 9 equity investments with a fair value of $15.4 million.
• Declared a second quarter distribution of $0.36 per share, payable on June 16, 2017, bringing total distributions since the initial public offering in March 2014 to $4.82 per share.
• Net asset value of $213.9 million, or $13.38 per share, as of March 31, 2017.

For earnings history and earnings-related data on TriplePoint Venture Growth BDC (TPVG) click here.

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