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Pennantpark Floating Rate Capit (PFLT)
NYSE:PFLT
Earnings Data
Report Date
May 18, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.28Last Year’s EPS
0.28Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational execution: a successful launch and rapid ramp of the PSSL2 joint venture, solid origination activity ($301M at 10% yield), conservative underwriting metrics (median leverage 4.5x, 2.1x coverage, 2.5% PIK, 89% first-lien) and attractive long-term equity co-invest returns (25% IRR, 1.9x MOIC). Offsetting these positives were a $30 million net mark loss and a 3.1% NAV decline driven by limited markdowns tied to certain 2021-vintage names, plus notable operating and financing expenses. Management has reduced leverage into its target range and believes PSSL2 can materially support dividend coverage as it scales, though timing depends on M&A activity. Overall, the positives—conservative portfolio construction, healthy yields, strong JV momentum and low non-accruals—outweigh the quarter-specific markdowns and NAV pressure.Company Guidance
Core and GAAP Net Investment Income
Core net investment income (NII) and GAAP NII were both $0.27 per share for the quarter ended December 31, 2025, demonstrating stable operating earnings generation.
Successful Launch and Rapid Ramp of PSSL2 Joint Venture
New joint venture PSSL2 commenced investing during the quarter, deploying $197 million in-quarter and an additional $133 million post-quarter for a total portfolio of $326 million; PSSL2 secured an additional $100 million commitment to bring the credit facility to $250 million (accordion to $350 million) with an objective to scale to over $1 billion in assets.
Active Origination and Yield Profile
Originated $301 million of investments during the quarter at a weighted average yield of 10% (including $95 million in new portfolio companies and $206 million into existing portfolio companies); weighted average yield on debt investments ~9.9% and ~99% of the debt portfolio is floating rate.
Conservative Credit Profile and Portfolio Structure
Portfolio remains conservatively structured: median leverage 4.5x EBITDA, median interest coverage 2.1x, PIK interest only 2.5% of total interest income, 89% first-lien senior secured, <1% second-lien/subordinated, 4% equity in PSSL1/PSSL2 and 7% equity co-investments—differentiated from peers with much higher software exposure and looser structures.
Low Non-Accruals and Strong Long-Term Credit Performance
Only four non-accruals at quarter end representing 0.5% of the portfolio at cost and 0.1% at market value; since inception PFLT has invested $8.7 billion across 545 companies with only 26 non-accruals and a historical loss ratio on invested capital of ~13 basis points annually.
Strong Equity Co-Investment Returns
Since inception PFLT has invested over $615 million in equity co-investments, generating a 25% IRR and a 1.9x multiple on invested capital, demonstrating attractive upside participation from equity stakes.
Balanced Capital Management and Debt Reduction
As of December 31 debt-to-equity was 1.57x and subsequent asset sales to joint ventures (post-quarter sales of $27 million to PSSL1 and $133 million to PSSL2) were used to pay down the revolver, reducing leverage to 1.5x—within the stated target range of 1.4x–1.6x.
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 |
|---|---|---|---|
Feb 09, 2026 | $9.32 | $8.99 | -3.50% |
Nov 24, 2025 | $8.89 | $8.80 | -0.98% |
Aug 11, 2025 | $9.70 | $9.60 | -1.05% |
May 12, 2025 | $9.18 | $9.11 | -0.78% |
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 May 18, 2026, After Close (Confirmed).
What is Pennantpark Floating Rate Capit (PFLT) earnings time?
Pennantpark Floating Rate Capit (PFLT) earnings time is at May 18, 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 (Q2) is 0.28.