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Sound Point Meridian Capital, Inc. (SPMC)
NYSE:SPMC
Earnings Data
Report Date
May 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
0.54Last Year’s EPS
0.66Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Negative
The call highlighted clear operational actions and strategic responses — active deployments, 10 refinancings completed, Jan yield uptick to ~11.4%, and a highly diversified portfolio — but was dominated by sizeable mark-to-market losses, a large NAV decline (-17.1% q/q), a GAAP net loss of $43.9M, a distribution cut (20%), and very limited cash liquidity. Management emphasized refinancing optionality and potential for improving equity arbitrage if liability spreads stabilize, but near-term technical weakness and spread compression materially pressured earnings and NAV.Company Guidance
Net Investment Income and Quarterly Distributions
Generated net investment income (NII) of $9.0M or $0.44 per share for the quarter and paid distributions of $0.75 per share during the quarter; company reaffirmed commitment to distribute required taxable income and set monthly distributions for calendar Q2 2026 at $0.20 per share.
Active Portfolio Deployment and Secondary Opportunities
Deployed ~$6.8M into two warehouse investments, purchased three new-issue equity positions at an amortized cost of $11.29M (weighted average cap yield reported 9.31% on those positions) and a secondary equity position at an amortized cost of $5.23M with a 15.6% yield; sold two equity investments with amortized cost $8.1M (avg yield 15.6%).
Refinancing Activity and Near-Term Yield Benefit
Refinanced liabilities on 10 equity investments and deployed an additional $4.48M related to those refinancings; completed high-cost refinancings lowered estimated near-term liability savings exposure (slide metric moved from 41 bps prior to 28 bps), and January portfolio gap yield ticked up to ~11.4% (from 11.0% at quarter-end).
Diversified CLO Equity Portfolio
Portfolio breadth: 97 CLOs across 30 managers with look-through exposure to >1,500 loan issuers spanning 30+ industries, providing material manager/sector diversification as a risk-management strength.
Strong Market Activity That Can Enable Refinance Opportunities
U.S. leveraged loan primary activity topped ~$1 trillion in 2025 and U.S. managers priced $55B of new-issue CLOs in Q4 2025, creating potential refinancing/reset windows and market liquidity that could improve equity arbitrage as liability costs stabilize.
High Implied Equity Yields on Selected Purchases
Some purchases reflected attractive implied yields: secondary equity purchase at 15.6% and management commentary indicating combined new-issue packages could generate mid- to high-teens effective yields when warehouse income is included.
Sound Point Meridian Capital, Inc. (SPMC) Earnings, Revenues Date & History
SPMC 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
SPMC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 11, 2026 | $12.58 | $11.25 | -10.57% |
Aug 12, 2025 | $16.34 | $16.27 | -0.43% |
Aug 12, 2025 | $16.34 | $16.27 | -0.43% |
May 29, 2025 | $15.61 | $15.79 | +1.11% |
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 Sound Point Meridian Capital, Inc. (SPMC) report earnings?
Sound Point Meridian Capital, Inc. (SPMC) is schdueled to report earning on May 28, 2026, Before Open (Confirmed).
What is Sound Point Meridian Capital, Inc. (SPMC) earnings time?
Sound Point Meridian Capital, Inc. (SPMC) earnings time is at May 28, 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.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SPMC EPS forecast?
SPMC EPS forecast for the fiscal quarter 2026 (Q4) is 0.54.