BlackRock TCP Capital posts Q3 loss as portfolio sale weighs

BlackRock TCP Capital

05/11/2026 13:22

Overview
U.S. direct lender's Q3 net investment income fell short of dividend payout
Company reported Q3 net loss of $0.80 per share, with net asset value dropping to $5.61
Results reflect realized losses from portfolio sale and increased non-accrual investments

Outlook
Company did not provide specific financial guidance for the current or future periods in its press release

Result Drivers
PORTFOLIO SALE LOSSES - Realized losses from the sale of investments through the Continuation Vehicle transaction weighed on results
INCREASED NON-ACCRUALS - Higher proportion of investments on non-accrual status contributed to weaker performance
REALIZATION ACTIVITY - Strong repayment and realization activity reduced leverage and increased liquidity, per CEO Jason Mehring

Company press release: ID:nBwbtbZnNa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Loss Per Basic Share
 
$0.80
 
Q3 Net Asset Value Per Share
 
$5.61
 
Q3 Operating Expenses
 
$15.10 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment management & fund operators peer group is "buy."
Wall Street's median 12-month price target for BlackRock TCP Capital Corp is $4.00, about 8.5% below its November 4 closing price of $4.37
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 4 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)