Prospect Capital

Prospect Capital Corp. is a business development company, which engages in lending to and investing in private businesses. It also involves in generating current income and long-term capital appreciation through debt and equity investments. The company was founded on April 13, 2004 and is headquartered in New York, NY.

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Earnings data Q2 2025

Prospect Capital posts solid Q3 results amidst credit risk concerns

Prospect Capital demonstrated a strong financial performance in Q3 2024, supported by robust net investment income and NAV growth.
While facing challenges such as increased nonaccruals and moderate leverage, the company's diversified portfolio and shareholder distributions are key strengths.
Opportunities lie in portfolio expansion through originations, leveraging the success in structured credit business, and optimizing credit risk management.

Prospect Capital reports robust Q4 earnings, eyes diversified growth

Prospect Capital Corporation delivered solid financial performance in the June quarter, with steady net investment income and a well-diversified portfolio. While facing moderate leverage and the need to manage structured notes exposure, the company's expertise in private investments and shareholder distributions are key strengths. Opportunities lie in leveraging the portfolio's composition for stable income and exploring growth potential in property investments.

Prospect Capital posts solid Q1 results amidst diversification challenges

Prospect Capital delivered a strong performance in Q1, maintaining a robust financial position.
While facing challenges related to interest rates and portfolio diversification, the company is well-positioned to capitalize on growth opportunities.
Strategic focus on core business and prudent financial management are key strengths driving Prospect Capital's performance.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Prospect Capital (PSEC) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.

Here's Why Prospect Capital (PSEC) Is a Great 'Buy the Bottom' Stock Now

Crescent Point Energy

Denison Mines

Hive Blockchain Technologies Ltd

ICL-Israel Chemicals

Meta Materials

High inflation means high growth. This is an ideal time to move into the hottest sectors with cheap stocks that have plenty of upside.

7 Cheap Stocks Under $10 That Are Actually Worth Your Time

Ares Capital

TCG BDC

Fidus Investment

FS KKR Capital Corp

Goldman Sachs BDC

PhenixFIN

We take a look at the action in BDCs through the second week of November and highlight some of the key themes we are watching. The BDC sector has continued to rally through November, buoyed by good earnings and NAV gains in the sector.

BDC Market Weekly Review: Watch Out For The Management Narrative

Does Prospect Capital (PSEC) have what it takes to be a top stock pick for momentum investors? Let's find out.

Here's Why Prospect Capital (PSEC) is a Great Momentum Stock to Buy

NEW YORK, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) announced today that Prospect's preferred stock offerings (collectively, the "Preferred Stock") have exceeded $400 million in aggregate liquidation preference issuances since the initial closing in the quarter ending December 31, 2020.

Issuances in Prospect Capital Corporation Preferred Stock Offerings Exceed $400 Million Across Institutional, Registered Investment Advisor, Wirehouse, and Independent Private Wealth Investors

PSEC yields 8.05%, with strong trailing dividend coverage of 1.33x. It's trading at an -11.7% discount to NAV/share, much lower than the BDC industry average.

Prospect Capital: 8% Yield, 12% Discount, Monthly Pay Stock

Higher total investment income and robust new originations aid Prospect Capital's (PSEC) fiscal Q1 results. This drives bullish investor sentiments as shares gain 6.9%.

Prospect Capital (PSEC) Q1 Earnings Beat Estimates, Stock Up

Prospect Capital Corporation (PSEC) CEO Grieg Eliasek on Q3 2021 Results - Earnings Call Transcript

Prospect Capital (PSEC) delivered earnings and revenue surprises of 16.67% and 1.90%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

Prospect Capital (PSEC) Q1 Earnings and Revenues Surpass Estimates

NEW YORK, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter ended September 30, 2021.

Prospect Capital Announces September 2021 Net Investment Income of $0.21 and 3.2% Increase in Net Asset Value per Common Share, and Declares Stable Monthly Cash Common and Preferred Share Distributions

Prospect Capital (NASDAQ:PSEC) is set to give its latest quarterly earnings report on Monday, 2021-11-08. Here's what investors need to know before the announcement.

Prospect Capital's Earnings Outlook

Prospect Capital (PSEC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Prospect Capital (PSEC) Earnings Expected to Grow: What to Know Ahead of Q1 Release

OFS Capital

We take a look at the action in BDCs through the third full week of October and highlight some of the key themes we are. October is shaping up to be a terrific month for BDCs - the best since April - as the sector has powered through the recent rise in Treasury yields.

BDC Market Weekly Review: Expensive BDCs Further Outpace The Sector

Bank of America

ComSovereign Holding

Eagle Point Income Company Inc

Gabelli Dividend & Income Trust

Greenidge Generation Holdings

Hennessy Advisors

LifeMD 

Morgan Stanley

As October 2021 comes to a close, we look back at the new preferred stocks and ETDs introduced during the month, offering annual yields ranging from 4.25% to 9.25%. Here is a comparison against highest quality preferred stocks in our coverage universe, as ranked by our internal “CDx3 Compliance Score” metric.

New Preferred Stock IPOs, October 2021

NEW YORK, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (the “Company”) today announced the results of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding notes listed below. The Tender Offer was made pursuant to an Offer to Purchase dated October 8, 2021 (the “Offer to Purchase”), which set forth the terms and conditions of the Tender Offer.

Prospect Capital Corporation Announces Results of Cash Tender Offer For Any and All of its Outstanding 6.375% Notes due 2024

NEW YORK, Oct. 08, 2021 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (the “Company”) today announced that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding notes listed below. The Tender Offer will expire at 5:00 p.m., New York City time, on October 15, 2021, or any other date and time to which the Company extends such Tender Offer (such date and time, as it may or may not be extended, the “Expiration Time”). The Tender Offer is made pursuant to an Offer to Purchase dated today, which set forth the terms and conditions of the Tender Offer

Prospect Capital Corporation Announces Launch of Cash Tender Offer For Any and All of its Outstanding 6.375% Notes due 2024

NEW YORK, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) announced today that Prospect's preferred stock offerings (collectively, the "Preferred Stock") have exceeded $350 million in aggregate liquidation preference issuances since the initial closing in the quarter ending December 31, 2020.

Issuances in Prospect Capital Corporation Preferred Stock Offerings Exceed $350 Million Across Institutional, Registered Investment Advisor, Wirehouse, and Independent Private Wealth Investors

NEW YORK, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) announced today the pricing of $300 million in aggregate principal amount of 3.437% notes due 2028 (the “Notes”). The Notes will mature on October 15, 2028 and may be redeemed in whole or in part at any time or from time to time at our option at par plus a “make-whole” premium, if applicable. The Notes will bear interest at a rate of 3.437% per year payable semi-annually in arrears on April 15 and October 15 of each year, commencing on April 15, 2022. The Notes will be general senior unsecured obligations of Prospect, will rank equally in right of payment with Prospect's existing and future senior unsecured debt, and will rank senior in right of payment to any potential subordinated debt, should any be issued in the future.

Prospect Capital Corporation Announces Pricing of $300 Million of 3.437% Notes due 2028

We take a look at the recently issued Prospect Capital Corp. 5.25% preferred PSEC.PA.

Prospect Capital: Preferred Offers Attractive Risk-Reward

Arbor Realty Trust

Affiliated Managers

Brookfield Asset Management

Gladstone Investment

Summit Hotel Properties

JPMorgan Chase & Co

Oxford Lane Capital Corp 7 1/2 % Term Cum Pfd Shs Series -2023-

As August 2021 comes to a close, we look back at the new preferred stocks and ETDs introduced during the month, offering annual yields ranging from 3.95% to 9%. Here is a comparison against highest quality preferred stocks in our coverage universe, as ranked by our internal “CDx3 Compliance Score” metric.

New Preferred Stock IPOs, August 2021

PSEC yields 8.96%, with coverage rising to 1.17X in Q2 '21, and averaging 1.5X during the past four quarters. It's trading at an -18% discount to NAV/share, much lower than the BDC industry average.

Prospect Capital: 9% Yield, 18% Discount, Monthly Payer

OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Ratings of “bb” (Fair) of American Federated Insurance Company (AFIC) and American Federated Life Insurance Company (AFLIC). Both companies are known collectively as American Federated Insurance Companies and are domiciled in Flowood, MS. These Credit Ratings (ratings) reflect AFIC's balance sheet strength, which AM Best

AM Best Revises Outlooks to Negative for American Federated Insurance Company and American Federated Life Insurance Company

NEW YORK, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (the “Company”) today announced that it has commenced a cash tender offer (the “Tender Offer”) to purchase up to $60,000,000 aggregate principal amount of outstanding 4.95% Senior Convertible Notes due 2022 (the “Notes”). The Tender Offer will expire at 12:00 midnight, New York City time, on September 24, 2021 (one minute after 11:59 p.m., New York City time, on September 23, 2021), or any other date and time to which the Company extends the Tender Offer (such date and time, as it may be extended, the “Expiration Date”). The Tender Offer is made pursuant to an Offer to Purchase dated today, which sets forth the terms and conditions of the Tender Offer.

Prospect Capital Corporation Announces Launch of Cash Tender Offer For its 4.95% Senior Convertible Notes due 2022

Prospect Capital Corporation (PSEC) CEO John Barry on Q4 2021 Results - Earnings Call Transcript

Higher total investment income and decline in expenses, along with solid origination volumes, support Prospect Capital's (PSEC) fiscal Q4 results.

Prospect Capital (PSEC) Q4 Earnings Improve Y/Y, Costs Down

News for Prospect Capital ETF (PSEC)