Fifth Street Finance (FSC) - NASDAQ
  • Tue, May 10, 7:17 AM
    • FQ2 adjusted net investment income of $26.5M or $0.18 per share vs. $26.6M and $0.18 in FQ1. Dividend quarterly run rate is $0.18. This Q's adjusted NII excludes professional fees related to pending litigation and the now-resolved proxy contest.
    • Net asset value per share of $8.33 falls from $8.41 three months ago. Last night's close was $5.10, a near-39% discount to book.
    • 3.1M shares bought back during quarter, and another 1.9M repurchased since quarter's end - a total of 5M shares for $25.1M (average $5.02 each).
    • The permanent reduction in base management fees (a cut of more than 10%) went into effect during FQ2.
    • Conference call (dial-in) at 10 ET
    • Previously: Fifth Street Finance NII in-line, misses on total investment income (May 10)
    • FSC flat premarket
    | Tue, May 10, 7:17 AM | 20 Comments
  • Tue, May 10, 6:34 AM
    • Fifth Street Finance (NASDAQ:FSC): Q1 NII of $0.18 in-line.
    • Total investment income of $59.56M (-10.4% Y/Y) misses by $4.2M.
    • Press Release
    | Tue, May 10, 6:34 AM | 8 Comments
  • Tue, Feb. 9, 9:56 AM
    • FQ1 net investment income of $26.6M or $0.18 per share in-line with prior quarter. Dividend quarterly run rate is $0.18.
    • Net asset value of $8.41 per share slips from $9.00. Last night's close was $5.63.
    • The board authorized to repurchase upto $100M of common stock through Nov’2016.
    • Investments of $338.3M were closed in six new and five existing portfolio companies, and funded $351.9 million across new and existing portfolio companies.
    • Effective January 1, 2016, the company made permanent reduction in base management fee from 2.00% to 1.75%. "We believe the permanent reduction in base management fees at FSC places our fee structure at the industry median and will increase FSC's return on equity" stated Todd G. Owens, CEO.
    • Conference call at 10 ET
    • Previously: http://seekingalpha.com/news/3091146-fifth-street-finance-eps-line-misses-total-investment-income
    • FSC -1.6%
    | Tue, Feb. 9, 9:56 AM | 5 Comments
  • Tue, Feb. 9, 6:38 AM
    • Fifth Street Finance (NASDAQ:FSC): FQ1 NII of $0.18 in-line.
    • Total investment income of $65.12M (-0.3% Y/Y) misses by $1.86M.
    | Tue, Feb. 9, 6:38 AM | 4 Comments
  • Dec. 1, 2015, 8:32 AM
    • FQ4 net investment income of $28.2M or $0.18 per share vs. $0.21 a quarter earlier. Dividend quarterly run rate is $0.18. Full-year NII of $0.75 down from $1.00 a year earlier.
    • Net asset value of $9 per share slips from $9.13. Last night's close was $6.47.
    • Roughly $20M of stock bought back during quarter.
    • An error in recognition of fee revenue was discovered in the years 2012-2015. Over that period, the company prematurely recognized $12.9M in fee revenue and paid $2.6M too much in fees, resulting in a cumulative overstatement to NII of $10.3M, or 2.3% of the total NII over that time. Additionally, net assets were understated by $2.6M as of June 30. The fees will be fully refunded by the investment manager.
    • One investment was added to the non-accrual group during the quarter, bringing the total to four.
    • Conference call at 10 ET
    • Previously: Fifth Street Finance misses by $0.02, misses on total investment income (Dec. 1)
    • FSC flat premarket
    | Dec. 1, 2015, 8:32 AM | 15 Comments
  • Dec. 1, 2015, 6:33 AM
    • Fifth Street Finance (NASDAQ:FSC): FQ4 NII of $0.18 misses by $0.02.
    • Total investment income of $63.77M (-16.3% Y/Y) misses by $4.03M.
    | Dec. 1, 2015, 6:33 AM | 8 Comments
  • Nov. 30, 2015, 5:30 PM
    | Nov. 30, 2015, 5:30 PM | 2 Comments
  • Aug. 10, 2015, 6:31 AM
    • Fifth Street Finance (NASDAQ:FSC): Q2 NII of $0.21 beats by $0.02.
    • Total investment income of $70.19M (-5.5% Y/Y) beats by $1.36M.
    | Aug. 10, 2015, 6:31 AM | 40 Comments
  • May 11, 2015, 7:36 AM
    • Q1 net investment income of $29.5M or $0.19 per share vs. $35.1M and $0.23 in Q4. Distributions are at a $0.18 quarterly run rate.
    • Net asset value per share of $9.18 vs. $9.17 at the start of the quarter.
    • $147.5M of investments closed during quarter in five new an three existing portfolio companies. $466.6M closed one year ago.
    • Previously: Fifth Street Finance misses by $0.02, misses on revenue (May 11)
    • FSC flat premarket
    | May 11, 2015, 7:36 AM | 11 Comments
  • May 11, 2015, 6:27 AM
    • Fifth Street Finance (NASDAQ:FSC): FQ2 NII of $0.19 misses by $0.02.
    • Total investment income of $68.15M (-5.5% Y/Y) misses by $2.89M.
    | May 11, 2015, 6:27 AM | 11 Comments
  • Feb. 9, 2015, 7:48 AM
    • Q4 net investment income of $35.17M or $0.23 per share vs. $36.22M and $0.26 one year ago. Last quarter's distributions totaled $0.28.
    • The monthly dividend is cut to $0.06 per share as part of new management's move "to a more conservative dividend policy" that aligns the payout with sustainable NII.
    • Net decrease in net assets from operations of $30.66M vs. an increase of $33.71M a year ago.
    • Net asset value per share of $9.17 down from $9.64 at the end of Q3.
    • Fair value of investment portfolio of $2.7B up from $2.5B at end of Q3. $716.6M of new investments closed during quarter in 25 new and five existing portfolio companies vs. $912.7M one year ago.
    • Previously: Fifth Street Finance misses by $0.03, misses on revenue (Feb. 9)
    • FSC -0.7% premarket
    • Previously: Len Tannenbaum out at Fifth Street Finance (Jan. 22)
    | Feb. 9, 2015, 7:48 AM | 9 Comments
  • Feb. 9, 2015, 6:17 AM
    • Fifth Street Finance (NASDAQ:FSC): Q4 NII of $0.23 misses by $0.03.
    • Net investment income of $76.29M (+7.0% Y/Y) misses by $0.44M.
    | Feb. 9, 2015, 6:17 AM | 10 Comments
  • Dec. 1, 2014, 7:34 AM
    • FQ4 net investment income of $37.5M or $0.25 per share vs. $34.7M and $0.25 the previous quarter. Dividend is right about $0.25.
    • Net asset value per share of $9.64 vs. $9.71 previously, and Friday's close of $8.87.
    • $274.9M of investments funded during quarter. Weighted average yield on debt investments up 30 basis points to 11.1%.
    • FSC +1.5% premarket
    • Conference call at 11 ET
    • Previously: Fifth Street Finance misses by $0.01, misses on revenue
    | Dec. 1, 2014, 7:34 AM | 1 Comment
  • Dec. 1, 2014, 6:37 AM
    • Fifth Street Finance (NASDAQ:FSC): FQ4 NII of $0.25 misses by $0.01.
    • Total Inv. income of $76.2M (+33.5% Y/Y) misses by $2.5M.
    | Dec. 1, 2014, 6:37 AM
  • Aug. 7, 2014, 7:42 AM
    • Net investment income of $34.7M or $0.25 per share vs. $34.3M and $0.25 in Q1. Current dividend quarterly run rate is $0.275 per share.
    • Net asset value of $9.71 slips from $9.81 at end of Q1. Last night's closing stock price was $9.64.
    • $177.3M of investments closed in seven new and five existing portfolio companies in Q2, down from $266.3M closed in Q2 one year ago.
    • $176.7M received in full repayments of five debt investments. Several prepayments in early Q3, including FSC's largest investment, Desert NDT, combines with recent capital raise to give company "significant dry powder."
    • Weighted average yield on debt investments of 10.8%. 72.4% of debt investments are at floating rates.
    • Previously: Fifth Street Finance misses by $0.01, misses on Investment Income
    • Stock flat premarket
    | Aug. 7, 2014, 7:42 AM | 2 Comments
Company Description
Fifth Street Finance Corp., a business development company, invests in small and mid-sized companies located in the US with revenue of $25 to $250 million. The fund targets companies operating across a broad range of sectors such as healthcare services, education services, oil & gas equipment... More
Sector: Financial
Industry: Credit Services
Country: United States