The call highlighted improved nonaccruals and strong portfolio gains, alongside increased deal flow and a robust liquidity position. However, these positive aspects were offset by the liquidation of Renovo, significant net realized losses, and an unchanged NAV, reflecting a balanced mix of achievements and challenges.
Company Guidance
During BlackRock TCP Capital Corp.'s third quarter earnings call, several key financial metrics and updates were provided. The company's net asset value (NAV) remained unchanged at $8.71, while nonaccrual investments improved to 3.5% of the portfolio at fair market value, down from 5.6% at the end of 2024. A significant update involved the investment in Renovo, which was removed from nonaccrual status but faced liquidation, impacting fourth-quarter NAV by approximately $0.15 per share. The company declared a third quarter dividend of $0.25 per share and repurchased over 195,000 shares. Investment activity included $2.4 million in KBRA and a $5.2 million follow-on in Syndigo, contributing to a total of $241 million invested across 31 companies year-to-date. The portfolio's effective yield was 11.5%, with paydowns at $140 million. Financial results showed adjusted net investment income at $0.30 per share, and gross investment income at $0.59 per share. The company maintained a strong balance sheet with $528 million total liquidity and net regulatory leverage at 1.2x.
Improved Nonaccruals
Nonaccruals improved to 3.5% of the portfolio at fair market value compared to 5.6% at the end of 2024.
Portfolio Gains from NEP Group
Realized a portfolio gain from NEP Group, with a successful recapitalization upgrading the investment from a second lien to a first lien term loan.
Increased Deal Flow
A 20% increase in the number of deals reviewed and a 40% increase in deals advanced to the screening stage compared to the previous quarter.
Strong Liquidity Position
Total liquidity at quarter end was approximately $528 million.
Portfolio Diversification
Invested $241 million in 31 new and existing portfolio companies, reducing average position size to $7.8 million from $11.7 million at the end of 2024.
BlackRock TCP Capital (TCPC) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
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
TCPC Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Nov 06, 2025
$5.52
$5.78
+4.71%
Aug 07, 2025
$6.90
$6.65
-3.62%
May 08, 2025
$6.10
$6.55
+7.38%
Feb 27, 2025
$8.30
$7.50
-9.64%
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 BlackRock TCP Capital Corp. (TCPC) report earnings?
BlackRock TCP Capital Corp. (TCPC) is schdueled to report earning on Feb 26, 2026, Before Open (Confirmed).
What is BlackRock TCP Capital Corp. (TCPC) earnings time?
BlackRock TCP Capital Corp. (TCPC) earnings time is at Feb 26, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.