X
<

Behind Prospect Capital's Fiscal 4Q17 Earnings

PART:
1 2 3 4 5 6
Part 4
Behind Prospect Capital's Fiscal 4Q17 Earnings PART 4 OF 6

Understanding Prospect Capital’s Decline in Originations

Fall in originations

Prospect Capital (PSEC) witnessed a substantial fall in its originations in fiscal 4Q17, compared with fiscal 3Q17. In fiscal 4Q17, its total originations stood at $223.1 million, and in fiscal 3Q17, total originations stood at $449.6 million.

Understanding Prospect Capital&#8217;s Decline in Originations

Interested in PSEC? Don't miss the next report.

Receive e-mail alerts for new research on PSEC

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

The originations in fiscal 4Q17 came in the following proportions:

  • structured credit: 32%
  • syndicated debt: 31%
  • third-party sponsored deals: 31%
  • real estate: 1%
  • online lending: 4%
  • operating buyouts: 1%

In fiscal 4Q17, Prospect saw a sequential rise in total repayments. Total repayments in fiscal 4Q17 stood at $352 million, while in fiscal 3Q17, total repayments stood at $302 million.

In fiscal 2017, Prospect Capital reported total originations totaling $1.48 billion, compared with $0.97 billion in fiscal 2016. In fiscal 2017, originations came in the following proportions:

  • structured credit: 12%
  • syndicated debt: 27%
  • third-party sponsored deals: 38%
  • online lending: 12%
  • operating buy-outs: 2%
  • real estate: 8%
  • aircraft leasing: 1%

However, in fiscal 2017, Prospect Capital made total repayments totaling $1.4 billion, compared with $1.33 billion in fiscal 2016.

Expected revenues

For the September 2017 quarter, Prospect Capital (PSEC) is expected to report revenues of nearly $173.9 million. Other investment management companies (XLF) are expected to report the following revenues for the same quarter:

  • BlackRock Capital Investment (BKCC): $24.4 million
  • Ares Capital Management (ARCC): $298.5 million
  • Apollo Investment (AINV): ~$68.3 million
X

Please select a profession that best describes you: