NASDAQ$WHF

Whitehorse Finance Inc · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Whitehorse Finance announced first quarter 2023 earnings results and increased quarterly distribution to $0.37 per share.

WhiteHorse Finance reported a strong first quarter with core net investment income of $10.7 million, or $0.461 per share, well above the dividend. The board increased the regular dividend to $0.37 per share and introduced a variable supplemental dividend policy.

  • Net Asset Value of $330.0 million, or $14.20 per share
  • Investment portfolio totaling $749.2 million
  • Net investment income of $10.7 million, or $0.461 per share
  • Increased regular dividend to $0.37 per share and introduced a variable supplemental dividend policy

Headline financials

Total Revenue

-$391K

Previous: $20M-102.0%
EPS (adj)

$0.46

Previous: $0.34+34.0%
Portfolio Yield

13.2%

Previous: 9.2%+43.5%
Free Cash Flow

$7.51M

No prior period
Net Income

$7.51M

Previous: $5.71M+31.5%
Operating Income

-$8.08M

No prior period
Gross Profit

-$391K

No prior period
Cash & Equivalents

$11.7M

Previous: $21.3M-44.8%
Total Assets

$781M

No prior period

Revenue & EPS history

Whitehorse Finance · Revenue · Quarterly

-$391K

Q1 2023-102%vs Q1 2022
Beat estimate in 3 of 11 quarters(27%)
ActualEstimate

Forward guidance

WhiteHorse Finance is equipped to take advantage of the current lender friendly market conditions as our pipeline activity remains high, and our three-tier architecture continues to provide the BDC differentiated sourcing capabilities.

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 Q1 2023

Historical avgQ1 2023

-0.4%

Avg return

Earnings day

-0.1%

Avg return

5 days after

-0.0%

Avg return

30 days after

47%

9 / 19 earnings

Positive

+6.0%

Q4 2025

Best reaction

-6.2%

Q2 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.5%-4.6%-12.2%
Q4 2025+6.0%+17.8%+12.9%
Q3 2025-5.2%-1.0%+7.5%
Q1 2025+0.8%-1.1%-0.4%
Q4 2024-4.5%-5.5%-14.4%
Q3 2024-5.4%-9.5%-9.7%
Q2 2024-2.4%-2.6%+1.9%
Q1 2024+1.3%+0.4%+2.0%
Q4 2023-0.2%+0.5%-0.2%
Q3 2023-1.1%-0.2%+1.6%
Q2 2023-6.2%-5.8%-4.4%
Q1 2023+5.2%+5.5%+15.3%
Q4 2022+2.3%+0.4%-5.2%
Q3 2022+1.6%+4.9%+7.3%
Q2 2022+1.1%+6.0%-2.3%
Q1 2022-2.1%-6.0%-3.9%
Q4 2021-1.8%-3.6%-1.0%
Q3 2021+0.7%-0.1%+0.7%
Q4 2020+2.3%+2.2%+3.8%

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