MicroStockHub
Prospect Capital (NASDAQ:PSEC) fiscal Q4 net investment income, topping the average analyst estimate, increased from both the previous quarter and the year-ago quarter even as originations declined. Total investment income also climbed from the previous and year-ago periods.
Fiscal Q4 net investment income of $0.21 per basic share vs. $0.19 consensus, $0.20 in Q3 and $0.19 in Q4 2021. Total investment income for the quarter ended June 30, 2022 was $184.6M, exceeding the $176.6M average analyst estimate, and increasing from $181.4M in the prior quarter and from $157.3M in the year-ago quarter.
Net asset value of $10.48 per share at June 30, 2022 slipped from $10.81 per share at March 31, 2022.
Prospect Capital (PSEC) stock has risen 0.5% in Monday after-hours trading.
Total originations were $477.4M in the quarter vs. $564.8M in Q3. So far in fiscal Q1, total originations are $159.3M. Total repayments were $151.1M in fiscal Q4 vs. $184.5M in Q3.
Q4 operating expenses of $94.7M compared with $94.4M in Q3 and $84.1M in Q4 2021.
Unsecured debt as a percentage of total debt was 69.7% vs. 73.3% at March 31, 2022.
Net of cash asset coverage of debt ratio was 275% down from 284% in Q3 and from 277% in Q4 2021.
Conference call on Aug. 30 at 11:00 PM ET.
SA contributor BDC Buzz considers PSEC shares as likely overpriced, but explains why its bonds might be worth a look