Education
About Us
Working with TipRanks
Follow Us
BlackRock TCP Capital Corp. (TCPC)
NASDAQ:TCPC
Earnings Data
Report Date
May 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.2Last Year’s EPS
0.38Same Quarter Last Year
Moderate Sell
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Negative
The call contained material negative developments—most notably a 19% NAV decline, sizable realized and unrealized losses, and lower NII—counterbalanced by solid liquidity, active deleveraging actions (including a $325M note repayment), a strategic shift toward first-lien loans, tighter position sizing and ongoing share repurchases. While management highlighted remediation actions and BlackRock platform support, the near-term financial metrics and concentrated markdowns point to meaningful challenges that outweigh the operational and liquidity positives.Company Guidance
Strong Liquidity and Deleveraging Actions
Total liquidity at year-end of $570.2M (including $482.8M available borrowings and $61.1M cash). Subsequent repayment of the $325M 2026 unsecured notes on Feb 9, 2026 improved current liquidity to approximately $290.8M and reduced leverage.
Shift Toward Higher-Quality First-Lien Loans
First-lien loans increased to 87.4% of the portfolio (up from 83.6% a year ago), reflecting a continued rotation into more senior, secured assets.
Improved Portfolio Diversification and Smaller Position Sizes
Average size of new investments in 2025 was $5.8M versus $11.7M at prior-year end (a reduction of ~50%), and investment income was broadly distributed with >75% of portfolio companies each contributing <1%.
Active Capital Deployment and Incumbent Advantage
Deployed $35M into senior secured loans across 5 new and 3 existing portfolio companies; 65.4% of 2025 deployments were to existing portfolio companies, reflecting incumbency and origination access.
Competitive Cost of Debt
Weighted average interest rate on debt outstanding was 4.9%, down slightly from 5.0% in the prior quarter, supporting interest expense management.
Material Share Repurchases and Dividend Continuation
Repurchased 515,869 shares in Q4 at a weighted average price of $5.84 and an additional 233,541 shares post-quarter at $5.50; Board declared Q1 dividend of $0.17 per share payable March 31, 2026.
Portfolio Scale and Composition
Portfolio fair market value of $1.5B across 141 companies in 20+ sectors with average position size $10.9M; top 5 investments represented 23.1% and largest single investment was 7.2% of the portfolio.
Stable Funding Capacity and Diverse Leverage Program
Diverse leverage program including 3 low-cost credit facilities, an unsecured note issuance, and an SBA program; available borrowings of $482.8M and unfunded commitments of $129.2M (8.4% of portfolio).
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 |
|---|---|---|---|
Feb 27, 2026 | $4.51 | $4.09 | -9.31% |
Nov 06, 2025 | $5.28 | $5.53 | +4.73% |
Aug 07, 2025 | $6.60 | $6.37 | -3.48% |
May 08, 2025 | $5.84 | $6.27 | +7.36% |
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 May 06, 2026, Before Open (Confirmed).
What is BlackRock TCP Capital Corp. (TCPC) earnings time?
BlackRock TCP Capital Corp. (TCPC) earnings time is at May 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 (Q1) is 0.2.