NASDAQ$PSEC
Prospect Capital Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Announced financial results for the fiscal quarter and year ended June 30, 2023, and declared stable monthly dividends through October 2023 of $0.06 per common share.
Prospect Capital Corporation reported a net investment income of $112.779 million, or $0.23 per share, for the quarter ended June 30, 2023. The company declared monthly dividends of $0.06 per common share through October 2023. Since inception through our October 2023 declared distribution, Prospect will have distributed $20.40 per share to original common shareholders, representing 2.2 times June 2023 common NAV per share, aggregating over $4.01 billion in cumulative distributions to all common shareholders.
- Net Investment Income (NII) for the quarter was $112.779 million, or $0.23 per share.
- Distributions to common shareholders were $0.18 per share for the quarter.
- NAV per Common Share was $9.24 as of June 30, 2023.
- The company declared monthly dividends of $0.06 per common share through October 2023.
Headline financials
Revenue & EPS history
Prospect Capital · Revenue · Quarterly
$222M
Revenue by segment
Prospect Capital · $222M total across 3 segments · Q4 2023
- Interest income$197M—89.1%
- Other income$22.7M—10.2%
- Dividend income$1.36M—0.6%
Forward guidance
Prospect expects to declare November 2023, December 2023, and January 2024 distributions to common shareholders in November 2023. Drivers focused on enhancing accretive NII per share growth include (1) our $2.05 billion targeted 6.50% perpetual preferred stock offerings (which could potentially be increased in capacity in an accretive fashion), (2) greater utilization of our cost efficient revolving floating rate credit facility, (3) increase of short-term Libor and SOFR rates based on Fed tightening to boost asset yields, and (4) increased primary and secondary originations of senior secured debt and selected equity investments targeting attractive risk-adjusted yields and total returns as we deploy dry powder from our underleveraged balance sheet.
Tailwinds
- Targeted $2.05 billion 6.50% perpetual preferred stock offerings.
- Greater utilization of cost-efficient revolving floating rate credit facility.
- Increase of short-term Libor and SOFR rates based on Fed tightening to boost asset yields.
- Increased primary and secondary originations of senior secured debt and selected equity investments targeting attractive risk-adjusted yields and total returns.
- Deployment of dry powder from underleveraged balance sheet.
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 Q4 2023
+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
| Quarter | Report date | Reaction (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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