Q2 25 EPS
$0.18
MISS 4.56%
Est. $0.19
Q2 25 Revenue
$30.7M
MISS 7.38%
Est. $33.1M
vs S&P Since Q2 25
-68.4%
TRAILING MARKET
PNNT -39.8% vs S&P +28.6%
Market Reaction
Did PNNT Beat Earnings? Q2 2025 Results
PennantPark Investment Corporation delivered a disappointing fiscal second quarter, missing on both earnings and revenue as a shrinking portfolio and compressed yields weighed on results. The business development company reported net investment incom… Read more PennantPark Investment Corporation delivered a disappointing fiscal second quarter, missing on both earnings and revenue as a shrinking portfolio and compressed yields weighed on results. The business development company reported net investment income of $0.18 per share, falling short of the $0.19 consensus estimate by 4.56%, while total investment income of $30.66 million trailed expectations by 7.38% and dropped 14.8% from the year-ago period. The primary culprit was a contraction in total portfolio size, which declined to $1.21 billion from $1.33 billion at fiscal year-end, alongside a compression in weighted average yields on debt investments to 12.0% from 12.3%. Adding to the pressure, net realized losses of $27.76 million weighed on overall results, though net unrealized appreciation of $40.70 million provided a partial cushion. GAAP net asset value per share edged down 1.2% sequentially to $7.48. Looking ahead, CEO Art Penn struck a measured tone, noting the portfolio's defensive positioning and substantial spillover income as key pillars supporting the company's $0.24 quarterly dividend as it works to rotate equity investments over time.
Key Takeaways
- • Decrease in total portfolio size from $1,328.1 million to $1,213.6 million
- • Decrease in weighted average yield on debt investments from 12.3% to 12.0%
- • Lower interest expenses on debt due to reduced borrowings under Truist Credit Facility
- • Sales and repayments of $263.1 million exceeded new investments of $176.8 million during the quarter
- • Significant rotation of investments to PSLF joint venture ($154.4 million sold to PSLF)
- • Net unrealized appreciation improved to $40.7 million from $11.2 million at fiscal year-end
PNNT YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
PNNT Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased that our secured loan portfolio, with among the lowest portfolio company leverage and most meaningful covenants in the industry, is positioned defensively and continues to perform well. Additionally, our dividend stream is supported by substantial spillover income as we look to rotate equity investments over time.”
— Art Penn, Q2 2025 Earnings Press Release
PNNT Earnings Trends
PNNT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PNNT EPS Trend
Earnings per share: estimate vs actual
PNNT Revenue Trend
Quarterly revenue: estimate vs actual
PNNT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $0.15 | $0.14 | -4.31% | $24.9M | -7.01% |
| Q1 26 MISS | $0.16 | $0.11 | -29.12% | $27.3M | -4.45% |
| Q4 25 MISS FY | $0.17 | $0.15 | -13.09% | $28.0M | -4.55% |
| FY Full Year | $0.74 | $0.71 | -3.57% | $122.4M | -1.03% |
| Q3 25 MISS | $0.18 | $0.18 | -1.15% | $29.6M | -1.02% |
| Q2 25 MISS | $0.19 | $0.18 | -4.56% | $30.7M | -7.38% |