NASDAQ$WHF

Whitehorse Finance Inc · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Reported financial results for the second quarter of 2023 and declared a distribution of $0.37 per share.

WhiteHorse Finance reported a net investment income of $10.6 million, or $0.456 per share, and core net investment income of $10.6 million, or $0.456 per share, for the second quarter of 2023. The board of directors has declared a distribution of $0.37 per share with respect to the quarter ended June 30, 2023.

  • Net Asset Value of $325.3 million, or $14.00 per share
  • Investment portfolio totaling $728.4 million
  • STRS JV investment portfolio totaling $324.5 million
  • Net investment income of $10.6 million, or $0.456 per share

Headline financials

Total Revenue

-$782K

Previous: $20M-103.9%
EPS (adj)

$0.46

Previous: $0.33+36.5%
Portfolio Yield

13.4%

No prior period
Free Cash Flow

$3.88M

No prior period
Net Income

$3.88M

Previous: $7.35M-47.2%
Operating Income

-$8.2M

No prior period
Gross Profit

-$782K

No prior period
Cash & Equivalents

$10.4M

Previous: $9.23M+12.8%
Total Assets

$772M

No prior period

Revenue & EPS history

Whitehorse Finance · Revenue · Quarterly

-$782K

Q2 2023-103.9%vs Q2 2022
Beat estimate in 3 of 11 quarters(27%)
ActualEstimate

Forward guidance

WhiteHorse is being cautious in the face of a weakening economy and remains focused on credits with compelling risk return characteristics. The deals that WhiteHorse is continuing to work on are mostly non-cyclical or light cyclicals, and the company continues to be highly selective about which credits it underwrites.

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

-0.4%

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%

Discussion

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