NASDAQ$TRIN

Trinity Capital Inc · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Reported a strong second quarter with increased investment income and net asset value.

Trinity Capital Inc. announced its Q2 2023 financial results, featuring a 37.3% year-over-year increase in total investment income to $46.0 million, and a rise in net asset value to $13.15 per share. The company's net investment income was $22.1 million, or $0.61 per basic share, marking a 40.8% increase year-over-year. Trinity Capital continues to focus on strategic investments and portfolio diversification to drive shareholder value.

  • Total investment income increased by 37.3% year-over-year, reaching $46.0 million.
  • Net investment income was $22.1 million, or $0.61 per basic share, a 40.8% increase year-over-year.
  • Net asset value increased to $13.15 per share.
  • Total gross investments funded were $154.9 million, including investments in new and existing portfolio companies and a joint venture.

Headline financials

Total Revenue

-$6.73M

Previous: $33.5M-120.1%
EPS (adj)

$0.58

Previous: $0.48+20.8%
Return on Average Equity

18.4%

Previous: 13.5%+36.3%
Return on Average Assets

7.6%

Previous: 5.9%+28.8%
Effective Yield on Avg Debt

16.2%

Previous: 13.8%+17.4%
Free Cash Flow

$19.9M

No prior period
Net Income

$19.9M

Previous: $15.7M+26.5%
Operating Income

-$30.7M

Previous: $16.4M-287.4%
Gross Profit

-$7.38M

No prior period
Cash & Equivalents

$12.3M

Previous: $13.2M-7.2%
Total Assets

$1.19B

Previous: $1.09B+9.1%
Stock-Based Comp

$2.31M

Previous: $1.77M+30.8%

Revenue & EPS history

Trinity Capital · Revenue · Quarterly

-$6.73M

Q2 2023-120.1%vs Q2 2022
Beat estimate in 4 of 14 quarters(29%)
ActualEstimate

Forward guidance

No specific forward guidance was provided in the earnings report.

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 Q2 2023

Historical avgQ2 2023

+1.1%

Avg return

Earnings day

+0.3%

Avg return

5 days after

+0.2%

Avg return

30 days after

59%

13 / 22 earnings

Positive

+6.9%

Q4 2022

Best reaction

-6.9%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.8%-1.0%-0.6%
Q4 2025+0.8%-0.7%-4.9%
Q3 2025+0.0%+3.7%+3.5%
Q1 2025-1.9%+3.5%+3.1%
Q4 2024+5.1%+4.4%+0.6%
Q3 2024+1.4%-3.5%+7.9%
Q2 2024+2.9%+1.8%-1.7%
Q1 2024-4.5%-2.3%-1.7%
Q4 2023+4.8%+3.5%+0.5%
Q3 2023+6.2%+4.9%+7.7%
Q2 2023+4.9%-2.8%-0.2%
Q1 2023-4.1%-5.0%+3.4%
Q4 2019+6.9%+5.8%-4.6%
Q4 2022+6.9%+5.8%-4.6%
Q3 2022-6.9%-10.3%-10.4%
Q2 2022-0.5%+1.9%-1.7%
Q1 2022-4.6%-6.8%-3.5%
Q4 2021-0.9%-4.2%+6.0%
Q3 2021+5.6%+5.3%+1.2%
Q2 2021+4.0%+2.7%+10.4%
Q1 2021+0.7%-1.3%-1.5%
Q4 2020-3.9%+1.1%-4.6%
Q3 2020
Q1 2020
Q3 2019

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