WhiteHorse Finance (WHF) Tops Q4 EPS by 4c

WhiteHorse Finance (NASDAQ: WHF) reported Q4 EPS of $0.35, $0.04 better than the analyst estimate of $0.31.

Fourth Quarter 2020 Summary Highlights

• Net Asset Value of $312.9 million, or $15.23 per share, compared to $15.23 per share in 2019
• Investment portfolio(1) totaling $690.7 million
• STRS JV investment portfolio totaling $174.6 million
• Gross investment deployments(2) of $162.4 million for the fourth quarter, including new originations of $158.9 million and $3.5 million of fundings for add-ons to existing investments
• Gross investment deployments(2) of $286.9 million for the year, including new originations of $261.3 million and $25.6 million of fundings for add-ons to existing investments
• Net investment income of $6.9 million, or $0.335 per share, for the fourth quarter
• Core net investment income of $7.1 million, or $0.348 per share(3), for the fourth quarter
• Annual net investment income of $24.2 million, or $1.176 per share
• Annual core net investment income of $25.7 million, or $1.249 per share(3)
• Annual distributions of $1.545 per share, including special distributions of $0.125 per share

Stuart Aronson, WhiteHorse Finance's Chief Executive Officer commented, "During the fourth quarter, we successfully originated 16 first lien loans financed partially through $60 million unsecured notes newly issued under the current favorable market conditions. Our fourth quarter origination volume set a new company record and enabled us to reach our target leverage of 1.25x. The year 2020 presented unprecedented challenges, but our business remained resilient and we finished the year stronger than ever which emphasizes the strength of our three-tiered sourcing approach and rigorous underwriting standards. We will remain prudent as we continue to enhance value for our shareholders in this environment."

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

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