Pennantpark Floating Rate Capit (PFLT)
NYSE:PFLT
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Earnings Data
Report Date
Aug 12, 2026After Close (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
0.27Last Year’s EPS
0.25Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call emphasized portfolio strength, conservative underwriting, low nonaccruals and a material equity realization (Echelon) that supports NAV and demonstrates the value of the co-invest program. Management took a prudent approach by resetting the dividend framework to align payouts with current NII and to avoid forcing JV deployment in a muted M&A market. Key near-term risks include slower-than-expected JV ramp, muted M&A activity versus 2024, and isolated vintage-related credit stress, but these appear manageable given the firm’s conservative metrics (high first-lien mix, low PIK, strong yields, and diversified funding).Company Guidance
Stable NAV and Solid Portfolio Quality
NAV was essentially flat quarter-over-quarter at $10.47 (vs. $10.49 prior quarter, ~-0.19%). Nonaccruals remain low with three nonaccrual investments representing 0.8% of the portfolio at cost and 0.5% at market value. Median portfolio company leverage is moderate at 4.6x and median interest coverage is 2.0x.
Strong Core Net Investment Income
Core net investment income (NII) of $0.27 per share for the quarter (GAAP NII $0.26 per share). Management expects the JV ramp over time to drive NII north of $0.30 per share per quarter.
Large Realization from Equity Co-Investment (Echelon)
Expected proceeds of approximately $47 million from a $3.2 million equity co-investment in Echelon (about $40M cash + $7M stock), representing nearly a 15x multiple on invested capital—demonstrating the value of the equity co-invest program.
Joint Venture (PSSL 2) Growth and Deployment
PSSL 2 JV grew substantially during the quarter: $148 million invested in new and existing investments and a JV portfolio of $340 million at quarter-end. Management is targeting scaling PSSL 2 to over $1 billion of assets within 12–18 months.
Robust Investment Activity and Attractive Yields
Invested $295 million during the quarter at a weighted average yield of 9.3% (overall weighted average yield on debt investments noted at 9.8%). Approximately 99% of the debt portfolio is floating-rate, which benefits from higher short-term rates.
Conservative Asset Structuring and Low PIK
Portfolio composition is conservative: ~87% first-lien senior secured debt, 9% equity co-investments, and only ~3% PSSL equity. LTM PIK income is low (reported at ~2.2%–2.5% of total interest income), among the lowest in the industry.
Strong Long-Term Track Record
Since inception: $9 billion invested in 551 companies with only 27 nonaccruals; cumulative equity co-investments >$618 million with a 25% IRR and 2.0x MOIC; historical loss ratio on invested capital ~12 basis points annually.
Improved Capital Structure
Debt-to-equity ratio was 1.6x at quarter-end and was subsequently reduced to 1.5x after paying down the revolver, within the stated target range of 1.4x–1.6x, demonstrating active balance sheet management.
PFLT 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
PFLT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $8.86 | $8.81 | -0.55% |
Feb 09, 2026 | $8.98 | $8.67 | -3.50% |
Nov 24, 2025 | $8.57 | $8.48 | -0.97% |
Aug 11, 2025 | $9.35 | $9.25 | -1.05% |
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 Pennantpark Floating Rate Capit (PFLT) report earnings?
Pennantpark Floating Rate Capit (PFLT) is schdueled to report earning on Aug 12, 2026, After Close (Confirmed).
What is Pennantpark Floating Rate Capit (PFLT) earnings time?
Pennantpark Floating Rate Capit (PFLT) earnings time is at Aug 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PFLT EPS forecast?
PFLT EPS forecast for the fiscal quarter 2026 (Q3) is 0.27.