NASDAQ$TCPC

BlackRock TCP Capital Corp · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Announced second quarter 2023 financial results, including net investment income of $0.48 per share.

BlackRock TCP Capital Corp. reported a net investment income of $0.48 per share for the second quarter ended June 30, 2023. The company's board of directors declared a third quarter dividend of $0.34 per share and a special dividend of $0.10 per share.

  • Net investment income for the quarter ended June 30, 2023 was $27.6 million, or $0.48 per share on a diluted basis, which exceeded the dividend of $0.34 per share paid on June 30, 2023.
  • Net asset value per share was $12.94 at June 30, 2023 compared to $13.00 at March 31, 2023.
  • Total acquisitions during the quarter ended June 30, 2023 were $17.1 million and total dispositions were $31.6 million.
  • As of June 30, 2023, the credit quality of the portfolio remained strong with debt investments in just two portfolio companies on non-accrual status, representing 0.3% of the portfolio at fair value and 0.5% at cost.

Headline financials

Total Revenue

$27.2M

Previous: $44M-38.1%
EPS (adj)

$0.48

Previous: $0.37+29.7%
Free Cash Flow

$16.3M

No prior period
Net Income

$16.3M

Previous: -$128K+12788.8%
Operating Income

$853K

Previous: $21.3M-96.0%
Gross Profit

$27.2M

No prior period
Cash & Equivalents

$123M

Previous: $49.4M+149.1%
Total Assets

$1.79B

Previous: $1.87B-4.3%

Revenue & EPS history

BlackRock TCP · Revenue · Quarterly

$27.2M

Q2 2023-38.1%vs Q2 2022
Beat estimate in 2 of 12 quarters(17%)
ActualEstimate

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 2023

Historical avgQ2 2023

+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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