TCP Capital (TCPC) Reports In-Line Q3 EPS, Slight Beat on Revenues

TCP Capital (NASDAQ: TCPC) reported Q3 EPS of $0.38, in-line with the analyst estimate of $0.38. Revenue for the quarter came in at $43.29 million versus the consensus estimate of $43.24 million.

FINANCIAL HIGHLIGHTS

• Net investment income for the quarter ended September 30, 2017 was $22.1 million, or $0.38 per share on a diluted basis, net of $0.09 per share in incentive compensation.
• Net increase in net assets resulting from operations for the quarter ended September 30, 2017 was $14.6 million, or $0.25 per share.
• Net asset value per share at September 30, 2017 decreased to $14.92 from $15.04 at June 30, 2017.
• Total acquisitions during the quarter ended September 30, 2017 were $245.7 million and total dispositions were $158.1 million.
• We issued $175.0 million of unsecured notes that mature on August 11, 2022 (the \"2022 Notes\"), comprised of $125.0 million issued on August 11, 2017 and $50.0 million issued subsequent to the end of the quarter on November 3, 2017. The 2022 Notes bear interest at an annual rate of 4.125%, payable semi-annually, and all principal is due upon maturity.
• On November 7, 2017, our board of directors declared a fourth quarter dividend of $0.36 per share payable on December 29, 2017 to shareholders of record as of December 15, 2017.

For earnings history and earnings-related data on TCP Capital (TCPC) click here.

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