BlackRock TCP Capital Corp (NAS:TCPC)
$ 7.63 +0.020 (+0.26%) Market Cap: 648.84 Mil Enterprise Value: 1.65 Bil PE Ratio: 0 PB Ratio: 0.83 GF Score: 51/100
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Q1 2025 BlackRock TCP Capital Corp Earnings Call Transcript

May 8, 2025 / 04:00 PM GMT
Release Date Price: $7.1 (+7.41%)

Key Points

Positve
  • Adjusted net investment income was $0.36 per share, maintaining stability from the prior quarter.
  • The number of portfolio companies on non-accrual status declined significantly from 12 to 8.
  • The company exited non-accrual positions in several companies, improving portfolio quality.
  • A special dividend of $0.04 per share was declared, in addition to the regular dividend.
  • The portfolio's weighted average annual effective yield remained strong at 12.2%.
Negative
  • Net asset value per share decreased slightly from $9.23 to $9.18.
  • Net realized losses for the quarter were approximately $41 million, driven by the disposition of certain investments.
  • The portfolio's largest markdowns were in companies like Razor Group and Gordon Brothers.
  • The company is still working through restructurings in the aggregator space, which could take several quarters.
  • The market environment remains volatile with tightened access to capital and higher financing costs.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TCPC.OQ - BlackRock TCP Capital Corp
Q1 2025 BlackRock TCP Capital Corp Earnings Call
May 08, 2025 / 04:00PM GMT

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Presentation
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Unidentified_1 [1]
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Hello everyone, and thank you for standing by. Today's call will be beginning shortly.

Ladies and gentlemen, good afternoon. Welcome everyone to Black Rock TCP Capital Corp 1 2025 earnings call.

Today's conference call is being recorded for replay purposes. During the presentation, all participants will be in a listen-only mode. A question and answer session will follow the company's formal remarks. To ask a question, please press the star key followed by the digit one. I will repeat these instructions before we begin the Q&A session.

And now I would like to turn the call over to Maya Murray, a member of the Black Rock TTP Capital Corp investor relations team. Michaelayla, please proceed.
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