TriplePoint Venture Growth BDC (TPVG) Tops Q4 EPS by 4c

TriplePoint Venture Growth BDC (NYSE: TPVG) reported Q4 EPS of $0.38, $0.04 better than the analyst estimate of $0.34. Revenue for the quarter came in at $17.79 million versus the consensus estimate of $15.28 million.

• Earned net investment income of $10.2 million, or $0.41 per share;
• Generated a net increase in net assets of $9.3 million, or $0.38 per share, resulting in a net asset value of $13.50 per share;
• Signed a record $323.0 million of new term sheets at TriplePoint Capital LLC (“TPC”), and TPVG closed a record $189.8 million of new debt commitments to venture growth stage companies;
• Funded a record $119.8 million in debt investments with a 14.2% weighted average annualized portfolio yield at origination;
• Achieved a 18.0% weighted average annualized portfolio yield on debt investments, including the impact of prepayments;
• Realized a 12.1% return on average equity, based on net investment income, during the quarter;
• Paid a special distribution of $0.10 per share, on December 28, 2018; and
• Declared a fourth quarter distribution of $0.36 per share, paid on December 14, 2018.

“We have completed another exceptional year achieving several new performance records,” stated Jim Labe, chairman and chief executive officer of the Company. “Given our originations pipeline and activity so far this current quarter, I expect 2019 to be another year of outstanding results.”

“Our performance last year demonstrated our portfolio’s ability to generate substantial yields and positive net realized gains, which resulted in approximately $4.6 million, or $0.19 per share, of spillover income we intend to distribute in 2019,” stated Sajal Srivastava, president and chief investment officer of the Company. “Our origination capabilities, combined with our existing commitments to high quality companies in our portfolio, positions us for 2019 to be another year of growth.”

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

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