Independent Private Credit Platform | Investing Since 2007 PennantPark Investment Corporation Investor Presentation – March 31, 2025 PennantPark – A Pioneer in Private Credit PennantPark is an independent private credit platform focused on the core middle market | A Pioneer in | Core middle | Over $26 billion of | $10 billion | | --- | --- | --- | --- | | Private Credit | market focus | capital deployed1 | of AUM1 | | Founded in 2007; | Target mid-sized | | | | | companies we believe | Over 780 investments ...

MIAMI, July 03, 2025 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) announced that it will report results for the third fiscal quarter ended June 30, 2025 on Monday, August 11, 2025 after the close of the financial markets. The Company will also host a conference call at 12:00 p.m. (Eastern Time) on Tuesday, August 12, 2025 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 39 ...

The way how BDCs (business development companies) make their money boils down to borrowing as cheap as possible in order to have capital that could be lent to relatively high-risk companies at much higher yields. This results in a spread, which can be enhancedRoberts Berzins has over a decade of experience in the financial management helping top-tier corporates shape their financial strategies and execute large-scale financings. He has also made significant efforts to institutionalize REIT framework in Latv ...

Group 1 - Business Development Companies (BDCs) are effective in leveraging the current high interest rate environment, but not all BDCs are of the same quality [1] - A diversified investment strategy that includes classic dividend growth stocks, BDCs, REITs, and Closed End Funds can enhance investment income while achieving total returns comparable to traditional index funds like the S&P [1]

Core Viewpoint - PennantPark Investment Corporation held its second fiscal quarter 2025 earnings conference call, indicating ongoing communication with investors and stakeholders regarding financial performance and future outlook [1][2]. Group 1: Company Overview - The conference call was led by Art Penn, Chairman and CEO, alongside Rick Allorto, CFO, highlighting the leadership structure of the company [2]. - The call was recorded and will be available for replay on the company's website, emphasizing transparency and accessibility of information for investors [3]. Group 2: Financial Communication - The CFO reminded participants about the proprietary nature of the call and the importance of the Safe Harbor disclosure regarding forward-looking statements, which is a standard practice in financial communications [3][4]. - The company will not update forward-looking statements unless legally required, indicating a cautious approach to financial forecasting [4].

PennantPark Investment (PNNT) Q2 2025 Earnings Call May 13, 2025 12:00 PM ET Company Participants Arthur Penn - Chairman & CEORichard Allorto - Chief Financial OfficerMaxwell Fritscher - Equity Research AssociateMelissa Wedel - Vice President, U.S. Equities Research Conference Call Participants None - Analyst Operator Good afternoon, and welcome to the PennantPark Investment Corporation's Second Fiscal Quarter twenty twenty five Earnings Conference Call. Today's conference is being recorded. At this time, a ...

PennantPark Investment (PNNT) Q2 2025 Earnings Call May 13, 2025 12:00 PM ET Company Participants Arthur Penn - Chairman & CEORichard Allorto - Chief Financial OfficerMaxwell Fritscher - Equity Research AssociateMelissa Wedel - Vice President, U.S. Equities Research Conference Call Participants None - Analyst Operator Good afternoon, and welcome to the PennantPark Investment Corporation's Second Fiscal Quarter twenty twenty five Earnings Conference Call. Today's conference is being recorded. At this time, a ...

Financial Data and Key Metrics Changes - For the quarter ended March 31, GAAP and core net investment income was 18¢ per share, with total distributions of 24¢ per share [14][18] - As of March 31, the adjusted NAV was $7.48 per share, down 1.2% from $7.57 per share in the prior quarter [18] - The debt to equity ratio was 1.28 times, indicating a diversified capital structure across multiple funding sources [19] Business Line Data and Key Metrics Changes - During the quarter, the company invested $177 million in three new and 52 existing portfolio companies at a weighted average yield of 10.7% [15] - The joint venture (JV) portfolio grew to $1.4 billion, with the JV investing $170 million at a weighted average yield of 10.1% [15][16] - The portfolio consisted of 46% first lien secured debt, 2% second lien secured debt, 13% subordinated notes, 7% other subordinated debt, 7% equity in PSLF, and 25% in other preferred and common equity [20] Market Data and Key Metrics Changes - Approximately 80% of originations came from existing borrowers, with 20% from new platform investments [6] - The weighted average debt to EBITDA for new portfolio company investments was 3.9 times, with a weighted average interest coverage of 2.3 times [8] - The market yield on first lien term loans stabilized in the range of plus 500 to 550 basis points for high-quality assets [8] Company Strategy and Development Direction - The company aims to generate attractive risk-adjusted returns through income while preserving capital, focusing on growing middle market companies with high free cash flow conversion [17] - The strategy includes rotating out of larger equity positions and redeploying that capital into interest-paying debt investments to increase core net investment income [14] - The company remains selective in pursuing new investments, emphasizing rigorous underwriting and maintaining a conservative orientation [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted that despite market volatility, the company had a solid quarter and expects originations to remain concentrated among existing portfolio companies [6][7] - The management expressed optimism about the upcoming vintage of loans, indicating that market volatility creates opportunities [8] - The company is closely monitoring the potential impact of tariffs across the portfolio, reporting limited exposure [9] Other Important Information - The company has a significant balance of spillover income, amounting to $58 million or 88¢ per share, which will be used to cover any shortfall in core net investment income versus dividends [15] - The credit quality of the portfolio remains strong, with three nonaccruals representing 1.6% of the portfolio at cost and 0.4% at market value as of March 31 [19] Q&A Session Summary Question: How would you characterize the current pipeline for new investments? - Management indicated that M&A deals impacted by tariffs were delayed, but there has been modest activity since April, with a growing pipeline expected for the rest of the year [24][25] Question: How much of the lower level of new deals was due to stricter underwriting? - Management stated that tariff-impacted deals are not being pursued, while the majority of their focus remains on existing borrowers in sectors not significantly affected by tariffs [28][50] Question: Can you discuss the exposure to government reimbursement and health care? - Management highlighted that the defense budget is expected to increase significantly, aligning well with their portfolio, and noted that their health care investments are performing well due to lower leverage compared to peers [39][44]

Core Insights - PennantPark (PNNT) reported revenue of $30.66 million for the quarter ended March 2025, marking a year-over-year decline of 14.8% and a surprise of -8.26% compared to the Zacks Consensus Estimate of $33.43 million [1] - The earnings per share (EPS) for the same period was $0.18, down from $0.22 a year ago, with an EPS surprise of -5.26% against the consensus estimate of $0.19 [1] Financial Performance Metrics - Investment income from non-controlled, non-affiliated investments was $0.12 million, significantly lower than the average estimate of $0.69 million based on three analysts [4] - Dividend income from controlled, affiliated investments was reported at $5.58 million, exceeding the average estimate of $5.12 million based on two analysts [4] - Dividend income from non-controlled, non-affiliated investments was $0.50 million, slightly below the estimated $0.55 million by two analysts [4] Stock Performance - Over the past month, shares of PennantPark have returned +5.3%, outperforming the Zacks S&P 500 composite's +3.8% change [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [3]

PennantPark (PNNT) came out with quarterly earnings of $0.18 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.26%. A quarter ago, it was expected that this business development company would post earnings of $0.20 per share when it actually produced earnings of $0.20, delivering no surprise.Over the last four quarters, the ...