Q3 26 EPS Adjusted
$0.26
MISS 2.66%
Est. $0.27
Q3 26 Revenue
$66.1M
MISS 1.39%
Est. $67.0M
vs S&P Since Q3 26
-70.9%
TRAILING MARKET
PFLT -70.2% vs S&P +0.7%
Market Reaction
Did PFLT Beat Earnings? Q3 2026 Results
PennantPark Floating Rate Capital Ltd. Delivered a mixed fiscal third quarter, as solid investment income growth was overshadowed by a sharp swing in unrealized depreciation that weighed heavily on net asset value. The business development company re… Read more PennantPark Floating Rate Capital Ltd. Delivered a mixed fiscal third quarter, as solid investment income growth was overshadowed by a sharp swing in unrealized depreciation that weighed heavily on net asset value. The business development company reported total investment income of $66.09 million for the quarter ended June 30, 2026, up from $63.50 million a year ago, while adjusted net investment income per share held steady at $0.26, compared to $0.25 in the prior-year period. The quarter's defining event was a $55.66 million net unrealized depreciation on investments, a stark reversal from $9.50 million of unrealized appreciation a year ago, which drove net asset value per share down to $10.26 from $10.83. Strong net realized gains of $37.33 million, fueled by an equity co-investment realization in a defense technology company, provided a partial offset. Management maintained confidence in middle market lending returns and highlighted the ongoing PSSL II ramp as a future earnings driver, while declaring a base dividend of $0.08 per share monthly through December.
Key Takeaways
- • Increase in debt portfolio size driving higher investment income
- • Strong net realized gains of $37.3 million from equity co-investment realization in defense technology company
- • Government Services and Defense sector outperformance
- • 99% variable-rate debt portfolio
- • Significant unrealized depreciation of $56.6 million offsetting gains
PFLT Forward Guidance & Outlook
The company will maintain a base dividend of $0.08 per share and supplemental dividend of $0.0033 per share for October, November, and December 2026. Management expressed confidence in finding attractive risk-adjusted returns in the core middle market and noted the PSSL II ramp continues on plan, expected to generate substantial earnings over time.
PFLT YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
PFLT Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased to continue to find attractive risk adjusted returns in the core middle market with conservative portfolio company leverage, low PIK interest and covenant protections. Our exposure to the Government Services and Defense sector continues to outperform. We are delighted with the meaningful realization during the quarter from an equity co-investment in a leading defense technology company. The ramp of PSSL II continues on plan and should generate substantial earnings overtime.”
— Art Penn, Q3 2026 Earnings Press Release
PFLT Earnings Trends
PFLT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PFLT EPS Trend
Earnings per share: estimate vs actual
PFLT Revenue Trend
Quarterly revenue: estimate vs actual
PFLT Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 MISS | $0.27 | $0.26 | -2.66% | $66.1M | -1.39% |
| Q2 26 MISS | $0.28 | $0.26 | -7.14% | $66.0M | -4.10% |
| Q1 26 MISS | $0.30 | $0.27 | -9.03% | $70.1M | -0.28% |
| Q4 25 MISS FY | $0.28 | $0.28 | -1.72% | $69.0M | +3.53% |
| FY Full Year | — | $1.16 | — | $261.4M | — |
| Q3 25 MISS | $0.29 | $0.27 | -7.85% | $63.5M | -4.18% |
| Q2 25 MISS | $0.32 | $0.28 | -12.61% | $61.9M | -5.88% |