PSEC
Prospect Capital Corporation2.5400
-0.0300-1.17%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q2 '26
Defends Tower hold, low software risk.
Q&A defended retaining First Tower Finance—a star equity-linked holding with record-low delinquencies and charge-offs—despite the firm's push to exit targeted equity-linked assets like real estate. Management dismissed tax refund seasonality as a decades-old norm, highlighted Tower's tax-efficient structure and prudent expansion into Florida and Tennessee, and affirmed no exit plans. On prefs, falling SOFR favors their fixed-rate appeal amid nontraded BDC distribution cuts. They reaffirmed ultra-low software exposure at under 3% versus peers' 22%, crediting strict 1.5x coverage underwriting. Tower stays. Investors will eye rotation progress into first-lien loans.
Key Stats
Market Cap
1.20BP/E (TTM)
-Basic EPS (TTM)
-0.89Dividend Yield
0.22%Recent Filings
8-K
Expands preferred offering to $2.65B
Prospect Capital amended its Dealer Manager Agreement on February 10, 2026, boosting its preferred stock offering from $2.25B to $2.646B in aggregate liquidation preference, up to 105.9M shares at $25 each. It dropped seven lower-yield series, focusing on 7.50% Series A5 and M5 under a fresh prospectus. Raises capital capacity. Legal opinion confirms share validity.
10-Q
No Q2 FY2026 results
8-K
NII up QoQ, NAV slips
Prospect Capital reported Q1 fiscal 2026 NII of $90.9M ($0.19/share), up from $79.4M prior quarter but below $86.4M year ago, while net loss to common hit $6.6M amid $142M realized losses. NAV dipped to $6.21/share from $6.45. Declared $0.045 monthly common distributions through April; first liens hit 71.4%. Portfolio rotates to core lending.
8-K
Directors re-elected at annual meeting.
10-Q
Q1 FY2026 results
Prospect Capital's Q1 FY2026 results ended September 30, 2025, lack topline revenue, profitability, or cash flow figures in the provided filing excerpt. No y/y or q/q deltas available for revenue, margins, operating income, EPS, FCF, or debt from primary statements. Non-GAAP metrics not disclosed in the 10-Q. Balance sheet and operations details omitted here. Shares outstanding hit 470,910,990 as of November 5, 2025. Liquidity posture unclear without cash or debt specifics. No M&A or regulatory items noted. Risk Factors highlight market volatility risks.
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