TCP Capital (TCPC) Tops Q1 EPS by 7c

TCP Capital (NASDAQ: TCPC) reported Q1 EPS of $0.46, $0.07 better than the analyst estimate of $0.39.

FINANCIAL HIGHLIGHTS

• Net investment income for the quarter ended March 31, 2018 was $21.6 million, or $0.37 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 March 31, 2018 was $27.2 million, or $0.46 per share.
• Net asset value per share at March 31, 2018 increased to $14.90 from $14.80 at December 31, 2017.
• Total acquisitions during the quarter ended March 31, 2018 were $169.1 million and total dispositions were $71.0 million.
• On February 26, 2018, we established a new $100 million revolving, multi-currency credit facility with ING Capital LLC, maturing on February 28, 2022 and generally bearing interest at LIBOR plus 2.25%.
• On May 9, 2018, our board of directors declared a second quarter dividend of $0.36 per share payable on June 29, 2018 to shareholders of record as of June 15, 2018.
• On April 17, 2018 Tennenbaum Capital Partners, LLC, our investment advisor (the \"Advisor\"), entered into a definitive agreement with BlackRock, Inc. (\"BlackRock\"), pursuant to which the Advisor will be merged with and into a wholly-owned subsidiary of BlackRock Capital Investment Advisors, LLC, an indirect wholly-owned subsidiary of BlackRock, with the Advisor being the surviving entity after the merger.

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

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