WhiteHorse Finance (WHF) Tops Q4 EPS by 4c

WhiteHorse Finance (NASDAQ: WHF) reported Q4 EPS of $0.398, $0.04 better than the analyst estimate of $0.36.

• Period-Ending Net Asset Value of $315.3 million, or $15.35 per share, compared to $13.98 per share in 2017
• New investments of $46.1 million for the fourth quarter
• New investments of $189.8 million and add-on investments of $19.9 million for the year
• Net investment income of $8.0 million, or $0.391 per share, for the fourth quarter
• Core net investment income of $8.2 million, or $0.398 per share(1), for the fourth quarter
• Annual net investment income of $25.0 million, or $1.217 per share
• Annual core net investment income of $30.7 million, or $1.496 per share(1)
• Annual distribution of $1.42 per share

Stuart Aronson, WhiteHorse Finance's Chief Executive Officer commented, "During the fourth quarter we maintained our focus on strong credit quality as all of our new investments were first-lien loans, which comprise 79% of our credit portfolio. Our strong fourth quarter results were driven by our successful pursuit of high-yielding senior-secured direct originations. This transaction activity validates our rigorous and dynamic approach to sourcing, which facilitates business development in less competitive areas of the lower mid-market at leverage levels comparable to our historical averages. Additionally, with our newly formed joint venture with State Teachers Retirement System of Ohio, we are excited about the additional opportunities for increased diversification into lower-risk assets, all of which advances our ultimate goal of enhancing shareholder value."

For earnings history and earnings-related data on WhiteHorse Finance (WHF) click here.

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