earnings
confidence high
sentiment neutral
materiality 0.70
PennantPark Q4 NII $0.22/share; upsizes JV to $1.5B capacity
PENNANTPARK INVESTMENT CORP
- Q4 net investment income $14.4M ($0.22 per share), down from $15.6M ($0.24) YoY; full year $60.1M ($0.92) vs $65.5M ($1.00).
- Adjusted NAV per share $7.56, up 0.5% quarter-over-quarter; portfolio $1.33B with weighted average yield on debt 12.3%.
- PSLF joint venture upsized: PNNT commits additional $52.5M, partner $75M; credit facility expanded from $325M to $400M, capacity over $1.5B.
- Quarterly distribution raised to $0.24 per share from $0.21; full-year distributions $0.88 vs $0.76 in prior year.
- Two portfolio companies on non-accrual (4.1% cost, 2.3% fair value); full-year net realized losses of $33.6M.