BlackRock Capital Investment Corporation (BKCC) Reports In-Line Q3 EPS

BlackRock Capital Investment Corporation (NASDAQ: BKCC) reported Q3 EPS of $0.12, in-line with the analyst estimate of $0.12.

• GAAP Net Investment Income (“NII”) of $0.12 per share, or $8.5 million, provided third quarter distribution coverage of 122%.
• Considerable progress towards reducing non-core and junior capital portfolio exposure during and subsequent to the third quarter. Non-core investment in AGY was substantially exited. Subsequent to quarter-end, portfolio exposure to Gordon Brothers Finance Company (“GBFC”) was significantly reduced. Both transactions in aggregate netted $62 million in cash proceeds.
• Net Asset Value (“NAV”) per share decreased 12.4% or $0.60 per share to $4.24 per share on a quarter-over-quarter basis, primarily driven by realized losses on AGY and fair market value decline in GBFC exposure.
• Net leverage of 0.98x, up slightly from 0.95x in comparison to the previous quarter, driven primarily by the decrease in NAV.
• Total liquidity for portfolio company investments, including cash, was approximately $134 million, subject to leverage and borrowing base restrictions.

For earnings history and earnings-related data on BlackRock Capital Investment Corporation (BKCC) click here.

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