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.
|No. of Analysts||12.00||12.00||12.00||11.00|
|Year Ago EPS||0.20||0.29||1.06||1.10|
|Next Earnings Date: Aug 5, 2015|
|Revenue Est||Current Qtr.
|No. of Analysts||9||9||9||8|
|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.
|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|
|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|
|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.