NASDAQ$PFLT
PennantPark Floating Rate Capital Ltd · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Announced financial results for the second fiscal quarter ended March 31, 2020.
PennantPark Floating Rate Capital Ltd. reported a net decrease in net assets resulting from operations of $21.1 million, or $0.54 per share, for the quarter ended March 31, 2020. The portfolio totaled $1,179.0 million as of March 31, 2020.
- Portfolio totaled $1,179.0 million as of March 31, 2020.
- Invested $167.5 million in seven new and 37 existing portfolio companies with a weighted average yield on debt investments of 7.5% for the three months ended March 31, 2020.
- Net investment income totaled $11.7 million, or $0.30 per share, for the three months ended March 31, 2020.
- Net decrease in net assets resulting from operations totaled $21.1 million, or $0.54 per share, for the three months ended March 31, 2020.
Headline financials
Revenue & EPS history
PennantPark Floating Rate · Revenue · Quarterly
$26.3M
Revenue by segment
PennantPark Floating Rate · $20.9M total across 2 segments · Q3 2021
- First Lien Secured Debt$18.2M-13.3%87.1%
- Other Investments$2.7M+50.0%12.9%
Forward guidance
The company expects the COVID-19 pandemic will have a material adverse impact on our future net investment income, the fair value of our portfolio investments, and the results of operations and financial condition of our portfolio companies.
Headwinds
- COVID-19 has had a significant impact on the U.S. economy.
- Restrictions and “stay-at-home” orders have essentially resulted in the shutdown of all non-essential businesses.
- COVID-19 pandemic has had, and continues to have, an adverse impact on our operating results and the operating results of our portfolio companies.
- We had a significant reduction of our net asset value as of March 31, 2020 as compared to our net asset value in the prior quarter.
- The company may run into liquidity issues in the future if we are unable to draw on the unused borrowing capacity under our Credit Facility due the breach of financial covenants.
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 2020
-0.3%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-0.6%
Avg return
30 days after
48%
20 / 42 earnings
Positive
+8.8%
Q4 2020
Best reaction
-9.2%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +0.3% | -3.6% | -9.7% | |
| Q1 2026 | -3.5% | -8.5% | -14.7% | |
| Q4 2025 | -1.0% | -0.2% | -1.6% | |
| Q3 2025 | -1.1% | -2.3% | -2.5% | |
| Q2 2025 | -0.8% | +0.2% | +2.6% | |
| Q4 2024 | -0.1% | +2.5% | +1.5% | |
| Q3 2024 | +0.3% | +2.1% | +6.5% | |
| Q2 2024 | -1.2% | -1.5% | -1.9% | |
| Q1 2024 | +0.9% | +2.3% | +1.7% | |
| Q4 2023 | +0.3% | -0.4% | +6.5% | |
| Q3 2023 | -4.6% | -5.1% | -5.6% | |
| Q2 2023 | +3.9% | +3.1% | +2.9% | |
| Q1 2023 | -2.1% | +0.0% | -8.6% | |
| Q4 2022 | -2.3% | -1.7% | -3.1% | |
| Q3 2022 | -2.8% | +1.3% | -8.1% | |
| Q2 2022 | -1.1% | -8.1% | -10.5% | |
| Q1 2022 | +1.7% | -0.8% | -2.1% | |
| Q4 2021 | -3.4% | -3.3% | -8.2% | |
| Q3 2021 | +0.8% | +0.6% | -0.7% | |
| Q2 2021 | +1.4% | -0.2% | +1.8% | |
| Q1 2021 | +1.4% | -0.5% | +3.6% | |
| Q4 2020 | +8.8% | +11.7% | +11.3% | |
| Q3 2020 | -2.5% | +0.6% | +1.1% | |
| Q2 2020 | +7.9% | +5.7% | +29.5% | |
| Q1 2020 | +1.6% | +3.6% | -7.0% | |
| Q4 2019 | -0.4% | +2.9% | +4.8% | |
| Q3 2019 | +1.9% | +2.2% | +2.5% | |
| Q2 2019 | -9.2% | -8.5% | -11.6% | |
| Q1 2019 | -0.7% | +0.5% | -1.3% | |
| Q4 2018 | +1.0% | +2.2% | -6.7% | |
| Q3 2018 | +0.9% | +0.1% | -2.9% | |
| Q2 2018 | +1.5% | +1.7% | +5.2% | |
| Q1 2018 | -8.8% | -3.8% | -1.9% | |
| Q4 2017 | -1.3% | -1.1% | -2.1% | |
| Q3 2017 | +0.1% | -2.1% | -0.4% | |
| Q2 2017 | +0.6% | +1.2% | +1.6% | |
| Q1 2016 | -0.6% | -3.3% | -2.3% | |
| Q4 2016 | -0.5% | +1.6% | +4.7% | |
| Q3 2016 | +2.0% | +2.4% | +2.8% | |
| Q2 2016 | +0.7% | — | — | |
| Q4 2015 | -0.9% | — | — | |
| Q3 2011 | -2.3% | — | — |
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