NASDAQ$BCIC
BCP Investment Corp · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Reported strong investment activity, lower non-accruals, and reduced cost of capital.
Portman Ridge Finance Corporation announced its financial results for the second quarter ended June 30, 2022, reporting a net asset value of $261.7 million ($27.26 per share) and total investment income of $15.0 million. The company refinanced its Revolving Credit Facility, reducing the applicable margin and extending the reinvestment period.
- Net asset value for the second quarter of 2022 was $261.7 million ($27.26 per share) as compared to $278.3 million ($28.76 per share) in the first quarter of 2022.
- Total investment income for the second quarter of 2022 was $15.0 million, of which $11.9 million was attributable to interest income from the debt securities portfolio, inclusive of payment-in-kind income.
- Net investment income for the second quarter of 2022 was $5.5 million ($0.57 per share).
- During the second quarter of 2022, the Company refinanced its Revolving Credit Facility with JPMorgan Chase Bank, reducing the applicable margin to 2.80% per annum from 2.85% per annum.
Headline financials
Revenue & EPS history
Portman Ridge · Revenue · Quarterly
$15M
Forward guidance
Portman Ridge believes that they are well-positioned to improve portfolio performance and investment income in the second half of 2022.
Tailwinds
- Prudent investment strategy and seeking out strong companies to add to the portfolio.
- Ended the quarter with a strong portfolio.
- Reduced non-accrual positions.
- Maintained a dividend of $0.63 per share.
- Proactively restructured agreement with JPMorgan Chase to lower the interest rate and extend the maturity date.
Headwinds
- Operations have been affected by the challenging economic environment.
- Operations have been affected by the rising interest rates.
- Operations have been affected by market volatility.
- Originations are still lower than the second half of 2021.
- Operations have been affected by rising interest rates and market volatility.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
-1.1%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-6.0%
Avg return
30 days after
43%
10 / 23 earnings
Positive
+7.4%
Q4 2020
Best reaction
-15.3%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.5% | +1.8% | -7.6% | |
| Q4 2025 | -13.1% | -21.5% | -33.1% | |
| Q3 2025 | +0.4% | +7.5% | +8.4% | |
| Q1 2025 | +1.0% | +2.1% | -3.8% | |
| Q4 2024 | -4.0% | -5.7% | -28.1% | |
| Q3 2024 | -3.5% | -3.1% | -10.5% | |
| Q2 2024 | -2.5% | -1.9% | -3.4% | |
| Q1 2024 | +1.6% | +1.7% | -0.1% | |
| Q4 2023 | -1.3% | +1.4% | +2.1% | |
| Q3 2023 | +0.0% | -0.1% | +0.3% | |
| Q2 2023 | -1.6% | +0.0% | -5.8% | |
| Q1 2023 | +2.3% | +4.9% | -1.2% | |
| Q4 2022 | -6.2% | -7.4% | -12.9% | |
| Q3 2022 | +2.7% | +4.0% | +3.2% | |
| Q2 2022 | +0.0% | +0.3% | -7.5% | |
| Q1 2022 | +0.0% | -0.4% | +0.0% | |
| Q4 2021 | +0.4% | +0.2% | -2.5% | |
| Q3 2021 | +4.6% | +5.7% | +1.4% | |
| Q2 2021 | +1.7% | +2.9% | +1.6% | |
| Q1 2021 | +3.4% | +3.0% | +5.6% | |
| Q4 2020 | +7.4% | +5.0% | +16.3% | |
| Q4 2019 | -15.3% | -21.4% | -60.9% | |
| Q4 2018 | -2.2% | -3.0% | +0.3% |
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