Prospect Capital (PSEC) stock rose 0.6% in after-hours trading

Prospect Capital (NASDAQ:PSEC) posted stronger than expected earnings in the last quarter of its fiscal year while total originations climbed Q/Q.

Prospect Capital (NASDAQ:PSEC) reported stronger than expected earnings in the last quarter of its fiscal year on Monday. The business development company’s total originations also climbed Q/Q.

Fiscal Q4 net investment per common share came in at $0.25, as per the earnings update. This figure topped the Visible Alpha consensus of $0.18 and marked an increase from $0.23 in Q3. In Q4 2023, it was capped at $0.28.

Prospect Capital (PSEC) stock was reported about 0.6% up in after-hours trading on August 28th.

Total interest income, as per the report, was valued at $189.3 million that also exceeded the Visible Alpha consensus of $183.8 million. In the prior quarter, total interest income was capped at a lower figure of $178.1 million. A year ago in Q4 2023, it was recorded at a higher $197.5 million.

Other notable figures in the earnings report include total originations of $242.1 million that increased from $219.5 million in the prior quarter. Total repayments and sales, on the other hand, jumped from $114.5 million in Q3 to $244.7 million in the recent quarter.

For Q1-to-date, total originations are $161.5 million and repayments and sales are $253.2 million, the company added.

Annualized current yield, performing interest-bearing investments, was 12.1%, as per the earnings report. This figure remained unchanged from Q3 and was down from 13.2% in Q4 2023.

Total investments at fair value were $7.72 billion at June 30, 2024, versus $7.81 billion at March 31, and $7.72 billion at June 30, 2023.

Non-accrual loans as a percentage of total assets were 0.3% in Q4 versus 0.4% in the prior quarter and 1.1% a year earlier.

Net asset value per common share fell to $8.74 from $9.24 a year ago.

Conference call on Aug. 29 at 9:00 AM ET

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