BlackRock TCP Capital reports Q1 adjusted NII 21c, consensus 20c

The company said, “In the first quarter of 2026, the Company executed against its strategic priorities: improving credit quality, further repositioning the investment portfolio, and strengthening the balance sheet. Non-accruals declined to 2.8% of the portfolio at fair value, reflecting the completion of two restructurings and one asset sale. Net leverage declined to 1.29x at quarter end, driven primarily by exits, partial paydowns, and proactive balance-sheet management. These achievements were partially offset by $35 million of net portfolio markdowns during the quarter, which contributed to a 4.9% decline in NAV to $6.72 per share. The Company remains focused on disciplined execution as it continues to reposition the portfolio.”