BlackRock TCP Capital Corp. (TCPC)
NASDAQ:TCPC
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Earnings Data
Report Date
Aug 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.19Last Year’s EPS
0.31Same Quarter Last Year
Moderate Sell
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveyed a balanced message: management reported meaningful progress on credit quality and balance sheet strength (notably lower nonaccruals, reduced leverage, strong liquidity, deleveraging actions, and active capital recycling), while also disclosing material realized and unrealized losses that drove a 4.9% NAV decline and lowered near-term income metrics. Management framed the quarter as constructive repositioning with disciplined, selective deployment, but acknowledged continued valuation pressure—particularly in staffing and parts of the software book.Company Guidance
Decline in Nonaccruals
Nonaccruals improved to 2.8% of the portfolio at fair value and 7.6% at cost, down from 4.0% and 9.7% respectively last quarter, driven by restructurings (ALPINE 4840, Suited Connector) and the sale of Fishbowl.
Reduced Leverage
Net regulatory leverage declined to 1.29x at quarter end from 1.41x last quarter and improved to 1.23x subsequent to quarter end due to exits and paydowns, approaching the firm's 0.9x–1.2x target range.
Strong Liquidity and Debt Management
Repaid all $325 million of 2026 notes; total liquidity of $358.6 million (including $164.1 million available revolver borrowings and $93.3 million cash); combined weighted average interest rate on debt outstanding was 5.77%.
Portfolio Size and Composition
Portfolio fair market value of $1.4 billion across 139 companies, average position size of $10 million, with 91.8% invested in senior secured loans, 8.2% in equity, and 94.4% of debt investments floating-rate.
Active Capital Recycling and Paydowns
Full exits and partial paydowns totaled $135.3 million during the quarter (including sizable payoffs such as Team Services, James Purse, kart.com, and Eddie Bauer); subsequent paydowns exceeded $50 million including ~$13 million from AutoAlert.
Dividend and Share Repurchase Actions
Board declared Q2 dividend of $0.17 per share; repurchased 0.505 million shares during the quarter at a weighted average price of $4.51 and 0.156 million shares post-quarter at $3.78; repurchase program reapproved up to $50 million.
Selective New Investments and Yield Maintenance
Invested approximately $22.5 million across six new and two existing portfolio companies; all new investments were senior secured loans; new investments had an effective yield of ~8.3% compared with 11.2% on exited deals, and average portfolio yield modestly declined to 10.9% from 11.1%.
Stable Income Metrics and ROE
Adjusted net investment income was $0.21 per share (down from $0.25 last quarter) and annualized net investment income ROE was 11.8%; PIK interest income reduced to 8.5% of total investment income from 10.9% last quarter.
TCPC 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
TCPC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $4.36 | $4.36 | 0.00% |
Feb 27, 2026 | $4.30 | $3.90 | -9.33% |
Nov 06, 2025 | $5.04 | $5.28 | +4.70% |
Aug 07, 2025 | $6.30 | $6.07 | -3.61% |
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 Aug 06, 2026, Before Open (Confirmed).
What is BlackRock TCP Capital Corp. (TCPC) earnings time?
BlackRock TCP Capital Corp. (TCPC) earnings time is at Aug 06, 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 TCPC EPS forecast?
TCPC EPS forecast for the fiscal quarter 2026 (Q2) is 0.19.