NASDAQ$WHF
Whitehorse Finance Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Reported strong gross capital deployments and maintained high origination activity.
WhiteHorse Finance announced its financial results for the third quarter ended September 30, 2021, reporting a net investment income of $7.6 million, or $0.366 per share, and core net investment income of $7.8 million, or $0.372 per share. The company's investment portfolio totaled $687.1 million, with gross investment deployments of $122.5 million. The board declared a distribution of $0.355 per share for the quarter ending December 31, 2021.
- Net Asset Value of $323.7 million, or $15.46 per share
- Investment portfolio totaling $687.1 million
- STRS JV investment portfolio totaling $239.0 million
- Net investment income of $7.6 million, or $0.366 per share
Headline financials
Revenue & EPS history
Whitehorse Finance · Revenue · Quarterly
$18.4M
Forward guidance
WhiteHorse Finance anticipates continuing rapid capital deployment, supported by a healthy pipeline and recent equity offering. The company believes its relationship with the H.I.G. platform and differentiated sourcing capabilities will drive growth, enabling disciplined deal sourcing and strong cash flow generation.
Tailwinds
- Gross capital deployments remained strong
- Maintained a high level of origination activity
- Completed a follow-on equity offering, netting approximately $34 million in proceeds
- Pipeline remains very healthy
- New capital should enable continued growth through disciplined deal sourcing
Headwinds
- Lending market has become more competitive in some segments
- Pricing, leverage and documentation terms have returned to pre-COVID levels in some segments
- Continuing repayments and refinancings within the portfolio offset gross capital deployments
- Higher interest expense incurred due to higher leverage balances
- Portfolio company investments are subject to legal restrictions on sales
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 Q3 2021
-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
| Quarter | Report date | Reaction (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
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro