WhiteHorse Finance (WHF) Tops Q3 EPS by 9c

WhiteHorse Finance (NASDAQ: WHF) reported Q3 EPS of $0.38, $0.09 better than the analyst estimate of $0.29.

Third Quarter 2020 Summary Highlights

• Net Asset Value of $314.6 million, or $15.31 per share
• Investment portfolio(1) totaling $595.3 million
• STRS JV investment portfolio totaling $162.6 million
• Gross investment additions(2) of $58.5 million, including new positions of $42.6 million and $15.7 million of fundings for add-ons to existing investments
• Net investment income of $5.9 million, or $0.289 per share
• Core net investment income of $7.8 million, or $0.380 per share(3)
• Third quarter distribution of $0.355 per share

Stuart Aronson, WhiteHorse Finance's Chief Executive Officer commented, "As the market continues to recover from the effects of the COVID-19 pandemic, our portfolio showed strength and resilience during the third quarter. Core NII meaningfully exceeded our quarterly dividend and NAV increased materially back to pre-COVID levels. Our portfolio grew to a fair value of $595.3 million after adding three new first lien positions as well as several meaningful add-ons, and our debt portfolio was comprised of 94.2% first lien loans. With a strong pipeline coming up in the fourth quarter, we have successfully added another $40 million unsecured notes at favorable pricing to fully take advantage of the opportunities in the current market. While we are encouraged by our performance in the face of uncertainties in the current macro environment, we will remain prudent and judicious in our execution, maintaining our discipline and rigorous underwriting standards to enhance value for our shareholders."

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

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