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Eagle Point Credit Company Inc (ECC)
NYSE:ECC
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.28Last Year’s EPS
0.33Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 14, 2018
|% Change Since: -2.96%
|Next Earnings Date:Aug 14, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a balance of positive developments and challenges. The company demonstrated strong capital deployment, NAV improvement, and proactive portfolio management with increased reinvestment periods. However, it faced challenges with decreased recurring cash flows and realized losses due to loan spread compression. Despite these challenges, the company's strategic actions are expected to enhance long-term performance.Company Guidance
During the Eagle Point Credit Company's Q3 2024 earnings call, the company provided detailed guidance on various financial metrics and strategic initiatives. Recurring cash flows for the quarter were reported at $68.2 million, or $0.66 per share, which slightly decreased from $71.4 million, or $0.79 per share in the previous quarter, primarily due to loan spread compression and off-cycle semiannual interest payments. However, cash flows in the fourth quarter to date have increased to $73 million. The net investment income, less realized losses, was $0.23 per share, with net investment income alone at $0.29 per share, and realized losses impacting by $0.06 per share. The company's NAV grew from $8.44 per share at the end of September to approximately $8.60 per share by late October. The company deployed over $171 million in net capital into new investments, including CLO equity purchases with an average effective yield of 18.5%. Furthermore, Eagle Point Credit Company completed 14 reset transactions, extending the portfolio's weighted average remaining reinvestment period to approximately 3 years, which is 47% above the market average. The company also issued 7.5 million additional common shares through their ATM program, generating NAV accretion of $0.08 per share. The current asset coverage ratios for preferred stock and debt were 326% and 735%, respectively, comfortably above statutory requirements. The company declared regular monthly distributions of $0.14 per share for Q1 2025, concluding the variable supplemental distribution by year-end due to expectations of fully distributing estimated taxable income for 2024.Strong Cash Flow in Q4
Cash flows received in the fourth quarter totaled $73 million, outpacing both the second and third quarters.
Significant Capital Deployment
The company deployed over $171 million in net capital into new investments, focusing on CLO equity with a weighted average effective yield of about 18.5%.
NAV Improvement
Net Asset Value (NAV) as of September 30 was $8.44 per share, rising approximately 1.9% to $8.60 per share at the midpoint of the range as of October 31.
Series AA and AB Offering Success
The Series AA and AB non-traded 7% convertible perpetual preferred stock offering generated net proceeds of approximately $10 million, expected to be significantly accretive over time.
Increased Reinvestment Period
Completed 14 reset transactions, lengthening the portfolio's weighted average remaining period to about 3 years, 47% above the market average.
Robust Portfolio Management
The company focuses on rotating from CLO BBs to CLO equity, enhancing yield opportunities.
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ECC 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
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ECC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $9.11 | $8.97 | -1.54% |
| Aug 06, 2024 | $8.72 | $8.83 | +1.26% |
| May 21, 2024 | $9.02 | $9.07 | +0.55% |
| Feb 22, 2024 | $8.34 | $8.47 | +1.56% |
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.
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FAQ
When does Eagle Point Credit Company Inc (ECC) report earnings?
Eagle Point Credit Company Inc (ECC) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Eagle Point Credit Company Inc (ECC) earnings time?
Eagle Point Credit Company Inc (ECC) earnings time is at Feb 20, 2025, TBA Not 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 ECC EPS forecast?
ECC EPS forecast for the fiscal quarter 2024 (Q4) is 0.28.
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