Prospect Capital (PSEC)
NASDAQ:PSEC
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Earnings Data
Report Date
Sep 01, 2026TBA (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
0.11Last Year’s EPS
0.17Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Q3 2026
Earnings Call Date:May 07, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call emphasized successful execution of a strategic rotation toward lower-risk, first-lien middle market lending (notable basis-point improvements), strong liquidity (large unencumbered asset base and revolver commitments), low non-accruals, and durable historical investment IRRs, while also reporting a quarter of net repayments exceeding originations, a material remaining real estate allocation (14%), and a high proportion of unsecured debt in the capital structure. Overall, the narrative is one of risk reduction, balance-sheet strengthening, and portfolio reallocation, tempered by slower net deployment in the quarter and some disclosure ambiguity on distributions.Company Guidance
Net Investment Income and NAV
Net investment income (NII) of $78 million for the March quarter, or $0.16 per common share; NAV of approximately $3.0 billion, or $6.05 per common share as of March 31, 2026.
Strong Shift to First-Lien Senior Secured Loans
First-lien mix increased 790 basis points to 72% since June 2024, with middle market lending now representing 85% of investments at cost (an increase of 875 basis points since June 2024) and 94% of originations in the quarter focused on middle market loans (majority first-lien).
Reduction of Riskier Asset Classes
Second-lien mix decreased 404 basis points to 12.4% since June 2024, and subordinated structured notes mix declined 837 basis points to near 0% of the portfolio since June 2024.
Portfolio Size, Diversification and Low Non-Accruals
89 portfolio companies across 31 industries with aggregate fair value of $6.3 billion; non-accruals remained low at ~0.7% of total assets (fair value), consistent with the prior quarter.
Strong Liquidity and Unencumbered Assets
Combined balance sheet cash and undrawn revolver commitments of $1.8 billion and $4.2 billion of assets unencumbered (~65% of portfolio); $2.12 billion revolver commitments from 48 banks, demonstrating broad lender support.
Favorable Funding and Liability Laddering
Weighted average cost of unsecured debt financing at 4.71%; institutional issuance of ~$168 million senior unsecured 5.5% notes due 2030 completed Oct 30, 2025; liabilities laddered with maturities extending through 2052 and drawn revolver pricing at SOFR + 2.05%.
Strong Historical Real Estate Performance and Active Exits
NPRC real estate strategy: 57 property exits since 2012 with unlevered gross cash IRR of 24% and 2.4x cash-on-cash multiple; five property exits in the fiscal year through March 2026 produced 18% IRR and 2.3x multiple; aggregate unrealized gain in NPRC investments of $229 million as of March.
Recurring Interest Income and Reduced PIK
Interest income represented 92% of total investment income for the 12 months ended March 2026; payment-in-kind (PIK) interest reduced 41% from prior 12-month period and was 11% of total investment income for the quarter.
PSEC 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
PSEC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $2.75 | $2.47 | -10.18% |
Feb 09, 2026 | $2.48 | $2.74 | +10.35% |
Nov 06, 2025 | $2.30 | $2.48 | +7.47% |
Aug 26, 2025 | $2.44 | $2.54 | +4.15% |
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 Prospect Capital (PSEC) report earnings?
Prospect Capital (PSEC) is schdueled to report earning on Sep 01, 2026, TBA (Confirmed).
What is Prospect Capital (PSEC) earnings time?
Prospect Capital (PSEC) earnings time is at Sep 01, 2026, TBA (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 PSEC EPS forecast?
PSEC EPS forecast for the fiscal quarter 2026 (Q4) is 0.11.