NASDAQ$TCPC

BlackRock TCP Capital Corp · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

BlackRock TCP Capital Corp.'s financial results for the second quarter ended June 30, 2022 were announced, featuring a net investment income of $0.37 per share and the declaration of a third quarter dividend of $0.30 per share, marking 41 consecutive quarters of dividend coverage.

BlackRock TCP Capital Corp. reported a net investment income of $21.3 million, or $0.37 per share, for the quarter ended June 30, 2022. The company's investment portfolio consisted of debt and equity positions in 122 portfolio companies with a total fair value of approximately $1.8 billion.

  • Net investment income for the quarter ended June 30, 2022 was $21.3 million, or $0.37 per share on a diluted basis.
  • Net asset value per share was $13.97 at June 30, 2022.
  • Total acquisitions during the quarter ended June 30, 2022 were $102.7 million and total dispositions were $82.2 million.
  • The credit quality of our portfolio remains strong, and no non-accruals were added during the second quarter.

Headline financials

Total Revenue

$44M

No prior period
EPS (adj)

$0.37

No prior period
Loans on Non-Accrual Status

0.3

No prior period
Debt Portfolio Yield

9.8%

No prior period
Net Income

-$128K

No prior period
Operating Income

$21.3M

No prior period
Cash & Equivalents

$49.4M

No prior period
Total Assets

$1.87B

No prior period

Revenue & EPS history

BlackRock TCP · Revenue · Quarterly

$44M

Q2 2022
Beat estimate in 2 of 12 quarters(17%)
ActualEstimate

Forward guidance

The company expects to continue to invest in senior secured loans, bonds and subordinated debt, as well as select equity investments, to obtain a high level of current income, with an emphasis on principal protection.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

+0.9%

Avg return

Earnings day

+1.4%

Avg return

5 days after

+0.8%

Avg return

30 days after

63%

12 / 19 earnings

Positive

+11.7%

Q3 2024

Best reaction

-10.5%

Q4 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.2%-3.2%-15.8%
Q4 2025-9.3%-8.4%-23.7%
Q3 2025+4.7%+3.6%+10.5%
Q1 2025+7.4%+15.3%+18.3%
Q4 2024-9.6%-12.7%-14.5%
Q3 2024+11.7%+11.9%+20.4%
Q2 2024-8.2%-12.6%-8.4%
Q1 2024+2.1%+3.7%+9.9%
Q4 2023-5.5%-5.5%-6.5%
Q3 2023+6.6%+5.7%+12.9%
Q2 2023+6.9%+5.4%+3.7%
Q1 2023+5.6%+6.4%+9.5%
Q4 2022-10.5%-8.1%-20.8%
Q3 2022+10.7%+12.7%+10.2%
Q2 2022+1.2%+4.4%+2.1%
Q1 2022+0.7%-0.5%-1.3%
Q4 2021+1.8%+1.3%+4.6%
Q3 2021-0.5%-0.1%-5.3%
Q4 2020+2.3%+7.8%+10.4%

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