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PNNT Reports NII Of $0.2762/Share Compared To A Dividend Of $0.28

|Includes: PennantPark Investment (PNNT)

The bad news is that the earnings release is full of bad news. The good news is that the report was better than expectations. With energy prices falling badly, the market could ignore the good news.

The Yahoo Finance projections:

Earnings Est Current Qtr.
Jun 15
Next Qtr.
Sep 15
Current Year
Sep 15
Next Year
Sep 16
Avg. Estimate 0.27 0.28 1.10 1.15
No. of Analysts 12.00 12.00 12.00 11.00
Low Estimate 0.26 0.27 1.08 1.08
High Estimate 0.28 0.29 1.12 1.30
Year Ago EPS 0.20 0.29 1.06 1.10
Next Earnings Date: Aug 5, 2015

 
Revenue Est Current Qtr.
Jun 15
Next Qtr.
Sep 15
Current Year
Sep 15
Next Year
Sep 16
Avg. Estimate 40.44M 41.20M 163.44M 180.75M
No. of Analysts 9 9 9 8
Low Estimate 39.61M 39.97M 161.75M 166.96M
High Estimate 41.42M 42.68M 165.96M 197.30M
Year Ago Sales 35.48M 40.14M 147.94M 163.44M

The actual and historical numbers:

PNNT Reports NII of $0.2762/share compared to a dividend of $0.28 Market Wire 08-05
What They Earned PennantPark Investment Corporation reported calendar Q2-15 total investment income of $40.641 million ($0.5435/share). Net investment income was $20.654 million ($0.2762/share). The net increase in net assets from operations was $4.936 million [$0.0660/share] due to $29.539 million in realized and unrealized losses on a portfolio that is too heavy in energy loans. Net asset value per share was $10.04 compared to $10.25 at the end of Q1-15.

 

  Q2-2015 Q1-2015 Q4-2014 Q3-2014 Q2-2014 Q1-2014 Q4-2013 Q3-2013 Q2-2013 Q1-2013

Realized & Unrealized Gains -15.718 -24.208 -52.049 x 18.753 17.622 18.841 x -19.522 14.740
Realized & Unrealized Gains/share -.2102 -.3224 -.6931 x .2817 .2647 .2831 x -.2936 .2216

 

  Q2-2015 Q1-2015 Q4-2014 Q3-2014 Q2-2014 Q1-2014 Q4-2013

Total investment income 40.641 42.661 39.205 40.144 35.475 37.879 34.439
Net investment income 20.654 22.096 19.477 20.148 13.196 * 20.029 17.955
Investments @ fair value 1.294 1.300 1.341 1.318 1.198 1.257 1.209
Wt Av Share Count 74.780 75.093 75.093 75.093 66.569 66.569 66.547
TII/share $0.5435 $0.5681 $0.5221 $0.5346 $0.5329 $0.5690 $0.5175
NII/share $0.2762 $0.2942 $0.2594 $0.2683 $0.1982 * $0.3009 $0.2704
NAV/share $10.04 $10.25 $10.43 $11.03 $11.33 $11.13 $10.80
Weighted Average Yield 12.4% 12.4% 12.5% 12.5% 12.3% 12.7% 13.2%

PNNT had $3.85 million ($0.0578/share) in debt issuance costs in Q2-14

Disclosure: I am/we are long PNNT.