NASDAQ$PSEC

Prospect Capital Corp · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

Prospect Capital's financial performance for the quarter ending March 31, 2020, was announced, revealing a net investment income of $68.5 million, but a net loss of $(185.7) million due to unrealized depreciation from macroeconomic conditions.

Prospect Capital Corporation reported a net investment income of $68.5 million, or $0.19 per share, for the quarter ended March 31, 2020. However, the company experienced a net loss of $(185.7) million, or $(0.51) per share, primarily due to unrealized depreciation resulting from macroeconomic conditions. The net asset value per share decreased by $0.68 to $7.98. The company maintained its distribution rate of $0.06 per share per month and declared distributions for May, June, July and August 2020.

  • Net investment income for the quarter was $68.5 million, or $0.19 per share.
  • Net loss for the quarter was $(185.7) million, or $(0.51) per share, due to unrealized depreciation.
  • NAV per share decreased by $0.68 to $7.98.
  • Distributions to shareholders were maintained at $0.06 per share per month.

Headline financials

Total Revenue

$155M

Previous: $171M-9.7%
EPS (adj)

$0.19

Previous: $0.21-9.5%
NII per share

$0.19

No prior period
NAV per share

$7.98

No prior period
Debt to total assets

74.1%

No prior period
Distributions per share

$0.18

No prior period
Net Income

-$186M

No prior period
Operating Income

$68.5M

No prior period
Cash & Equivalents

$46.6M

No prior period
Total Assets

$5.22B

No prior period

Revenue & EPS history

Prospect Capital · Revenue · Quarterly

$155M

Q3 2020-9.7%vs Q3 2019
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Prospect Capital · $155M total across 3 segments · Q3 2020

  • Interest income
    $139M
  • Other income
    $13.1M
  • Dividend income
    $2.58M

Forward guidance

Prospect expects to declare September 2020 and October 2020 distributions in August 2020.

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 Q3 2020

Historical avgQ3 2020

+0.4%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+0.5%

Avg return

30 days after

55%

23 / 42 earnings

Positive

+10.7%

Q1 2024

Best reaction

-16.3%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026-9.9%-17.9%-18.6%
Q2 2026+10.3%+16.9%+1.5%
Q1 2026+0.4%+12.2%+5.1%
Q3 2025-1.9%+0.8%-10.2%
Q2 2025-1.0%+3.8%+0.7%
Q1 2025-16.3%-18.2%-13.4%
Q4 2024-1.8%+2.8%+4.3%
Q3 2024+3.6%+4.0%+6.3%
Q1 2024+10.7%+3.9%+7.9%
Q4 2023+1.0%+0.7%+0.8%
Q3 2023-1.7%-4.7%-0.9%
Q2 2023-0.7%+1.7%-9.7%
Q1 2023+0.8%+2.5%-2.2%
Q3 2022-1.2%-1.8%-0.8%
Q2 2022+2.0%-1.0%-4.3%
Q1 2022+6.9%+6.3%+2.2%
Q3 2021-2.0%-1.5%+12.6%
Q2 2021+4.9%+8.0%+11.2%
Q1 2021+4.2%+3.2%+9.3%
Q4 2020-0.8%-1.4%-2.3%
Q3 2020+5.9%+8.1%+36.0%
Q2 2020-0.5%-0.6%-27.6%
Q1 2020-0.6%+1.4%+1.7%
Q4 2019-5.4%-4.4%+0.5%
Q3 2019-0.6%-1.3%-4.0%
Q2 2019-4.6%-7.9%-5.6%
Q1 2019+2.7%+3.7%-0.7%
Q4 2018+2.8%+4.5%+2.6%
Q3 2018+1.6%+2.9%+6.8%
Q2 2018+3.3%+8.4%+4.6%
Q1 2018-4.9%+1.9%+14.4%
Q4 2017-3.8%-6.0%-6.5%
Q3 2017-6.8%-12.5%-13.0%
Q2 2017+3.5%+6.6%+4.6%
Q1 2017+0.8%+3.3%+8.5%
Q4 2016+2.0%+0.4%-3.2%
Q3 2016+1.8%
Q2 2016+2.5%
Q1 2015-1.9%
Q4 2015+7.1%
Q3 2015+2.0%
Q2 2014+0.1%

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