The earnings call presented a mixed picture for WhiteHorse Finance. While there were improvements in nonaccrual investments and strategic financial moves such as the CLO term debt securitization, the company faced challenges with a decrease in NAV, net investment income, and overall portfolio value. Market conditions also presented challenges with subdued M&A activity and intense competition.

Company Guidance

During the WhiteHorse Finance Second Quarter 2025 Earnings Conference Call, key financial metrics were discussed, revealing a decline in the company's investment portfolio due to net realized and unrealized losses. The GAAP net investment income for Q2 was $6.6 million, or $0.282 per share, compared to a quarterly distribution of $0.385 per share and Q1's $6.8 million or $0.294 per share. The net asset value (NAV) per share decreased by 2.4% to $11.82. The company reported a decrease in total investments by $21.7 million from Q1, with a total portfolio fair value of $629.3 million at the end of Q2. The weighted average effective yield on debt investments decreased to 11.9%, while the overall portfolio yield increased to 9.8%. Additionally, 99.3% of the debt portfolio was first lien senior secured, and the BDC's leverage was at 1.22x. The STRS JV had an aggregate fair value of $330 million with a leverage of 1.16x. Despite a challenging market, WhiteHorse Finance continued to focus on non-sponsor deals, seeking better risk returns with limited competition, while maintaining a portfolio mix of approximately two-thirds sponsor and one-third non-sponsor.

Strong Portfolio Composition

99.3% of WhiteHorse's debt portfolio is first lien senior secured, with a mix of approximately 2/3 sponsor and 1/3 non-sponsor.

Nonaccrual Improvements

Nonaccrual investments totaled 4.9% of the debt portfolio, an improvement from 8.8% in the prior quarter.

Successful CLO Term Debt Securitization

Completed a CLO term debt securitization issuing $174 million of debt with a reinvestment period through May 25, 2029.

Increased JV Portfolio Value

The STRS JV total portfolio had an aggregate fair value of $330 million at an average effective yield of 10.6%.

WhiteHorse (WHF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

WHF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q3)	0.29 / -	0.394	―	―	―
Aug 07, 2025	2025 (Q2)	0.31 / 0.28	0.4	-29.50% (-0.12)
May 12, 2025	2025 (Q1)	0.33 / 0.29	0.465	-36.77% (-0.17)
Mar 07, 2025	2024 (Q4)	0.40 / 0.34	0.456	-24.78% (-0.11)
Nov 07, 2024	2024 (Q3)	0.41 / 0.39	0.465	-15.27% (-0.07)
Aug 08, 2024	2024 (Q2)	0.45 / 0.40	0.456	-12.28% (-0.06)
May 08, 2024	2024 (Q1)	0.46 / 0.47	0.461	0.87% (<+0.01)
Feb 29, 2024	2023 (Q4)	0.46 / 0.46	0.476	-4.20% (-0.02)
Nov 09, 2023	2023 (Q3)	0.46 / 0.47	0.42	10.71% (+0.05)
Aug 08, 2023	2023 (Q2)	0.46 / 0.46	0.334	36.53% (+0.12)

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

WHF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$8.78	$8.52	-2.96%
May 12, 2025	$8.95	$8.90	-0.56%
Mar 07, 2025	$9.70	$9.27	-4.43%
Nov 07, 2024	$10.41	$10.32	-0.86%

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 WhiteHorse Finance (WHF) report earnings?

WhiteHorse Finance (WHF) is schdueled to report earning on Nov 06, 2025, Before Open (Confirmed).

What is WhiteHorse Finance (WHF) earnings time?

WhiteHorse Finance (WHF) earnings time is at Nov 06, 2025, 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 WHF EPS forecast?

WHF EPS forecast for the fiscal quarter 2025 (Q3) is 0.29.

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