Cion Investment Corp. (CION)
NYSE:CION
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Earnings Data
Report Date
Aug 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.26Last Year’s EPS
0.32Same Quarter Last Year
Moderate Sell
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveyed a mixed but constructive message: the company faces near-term earnings pressure (under-earning distributions, a 4.7% NAV decline, lower NII, higher cost of debt and elevated leverage above target), driven largely by mark-to-market valuation moves and timing of capital deployment. Offsetting these headwinds are a predominantly first‑lien and defensive portfolio, stable coverage and risk metrics, strong liquidity, a completed bond issuance to improve capital structure flexibility, selective high-spread originations, and an accretive share repurchase program. Management emphasized that most valuation declines were unrealized and tied to market-level assumptions rather than broad credit deterioration and articulated a plan to reduce leverage over the coming quarters.Company Guidance
Defensive Portfolio Composition
Approximately 81% of the portfolio is first lien at quarter end, reflecting a defensive credit posture; over 98% of the portfolio is risk rated 3 or better and weighted average net leverage on the debt portfolio was essentially flat at 4.62x (4.7x prior quarter).
Strong Coverage and Stable Risk Ratings
Weighted average interest coverage was a healthy 2.08x. Weighted average internal risk rating was stable at 2.08 versus 2.09 in the prior quarter; risk-rated 4 exposure improved to 1.55% of fair value (from 1.9%) and risk-rated 5 remained small at 0.54%.
Nonaccruals Improved (Fair Value Basis)
Nonaccruals on a fair value basis decreased to 1.53% from 1.78% quarter-over-quarter. The principal new nonaccrual (Lux Credit) subsequently closed a sale in early Q2 and is expected to be removed from nonaccrual status.
Capital Markets Activity and Liquidity
Completed a $135 million public senior unsecured baby bond issuance at a fixed 7.5% due 2031, strengthening unsecured debt mix (about 75% unsecured / 25% senior secured). Ended Q1 with over $100 million in cash/short-term investments and ~ $100 million available under credit facilities.
Active Share Repurchase Program
Repurchased approximately 1.1 million shares during the quarter at an average price of $8.71, with management noting repurchases are accretive and will continue while they work to reduce leverage.
Selective, High-Spread New First Lien Activity
Maintained selective deployment: $69 million in commitments (2 new and 9 existing portfolio companies) with $54 million funded. Weighted average yield on new direct first lien investments was approx. SOFR + 6.1%.
Portfolio Mark Drivers Largely Unrealized
Management reported that over 80% of the quarter’s NAV decline was unrealized and driven by market-level inputs, comparable public multiples and sector-wide valuation pressures rather than broad fundamental credit deterioration across the middle-market portfolio.
CION Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CION Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $7.68 | $7.28 | -5.26% |
Mar 12, 2026 | $7.35 | $6.63 | -9.89% |
Nov 06, 2025 | $8.24 | $8.82 | +7.02% |
Aug 07, 2025 | $8.62 | $9.02 | +4.66% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Cion Investment Corp. (CION) report earnings?
Cion Investment Corp. (CION) is schdueled to report earning on Aug 06, 2026, Before Open (Confirmed).
What is Cion Investment Corp. (CION) earnings time?
Cion Investment Corp. (CION) earnings time is at Aug 06, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CION EPS forecast?
CION EPS forecast for the fiscal quarter 2026 (Q2) is 0.26.