NASDAQ$TCPC

BlackRock TCP Capital Corp · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Reported strong financial results for Q4 2020, including net investment income of $0.35 per share and declared a first quarter dividend of $0.30 per share.

BlackRock TCP Capital Corp. announced its Q4 and year-end 2020 financial results. The company's net investment income for the quarter was $20.0 million, or $0.35 per share, exceeding the dividend of $0.30 per share. Net asset value per share increased to $13.24. The company invested $182.5 million during the quarter and had total assets of $1.7 billion as of December 31, 2020.

  • Net investment income for Q4 2020 was $20.0 million, or $0.35 per share.
  • Net increase in net assets from operations for Q4 2020 was $48.0 million, or $0.83 per share.
  • Net asset value per share at December 31, 2020, was $13.24, a 4.2% increase from the previous quarter.
  • Total acquisitions during Q4 2020 were $182.5 million, and total dispositions were $212.9 million.

Headline financials

Total Revenue

$42.9M

No prior period
EPS (adj)

$0.35

No prior period
Loans on Non-Accrual Status

0.5

No prior period
Debt Portfolio Yield

9.6%

No prior period
Total Portfolio Yield

9.2%

No prior period
Net Income

$48M

No prior period
Operating Income

$42.9M

No prior period
Cash & Equivalents

$20M

No prior period
Total Assets

$1.67B

No prior period

Revenue & EPS history

BlackRock TCP · Revenue · Quarterly

$42.9M

Q4 2020
Beat estimate in 3 of 15 quarters(20%)
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 Q4 2020

Historical avgQ4 2020

+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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