Financial Data and Key Metrics Changes - For the quarter ended March 31, GAAP net investment income was $0.28 per share, and core net investment income was also $0.28 per share. Adjusted for additional shares issued, core NII would have been $0.30 per share [24] - As of March 31, NAV was $11.7 per share, down 2.4% from $11.34 per share last quarter [24] - The debt to equity ratio was 1.3 times, indicating a diversified capital structure across multiple funding sources [24] Business Line Data and Key Metrics Changes - The portfolio grew to $2.3 billion, up 7% from the prior quarter, with $293 million invested in three new and 54 existing portfolio companies at a weighted average yield of 9.9% [17] - The weighted average debt to EBITDA ratio for new portfolio investments was 4.3 times, with an interest coverage of 2.3 times [9][11] - Nonaccruals represented only 2.2% of the portfolio at cost and 1.2% at market value, which improved to 1% at cost and 0.5% at market value after two nonaccruals were put back on accrual [14][25] Market Data and Key Metrics Changes - Approximately 80% of originations came from existing borrowers, while 20% were from new platform investments, indicating a strong focus on existing relationships [7] - The pricing on first lien term loans stabilized in the SERFR plus 500 to $5.50 range for high-quality assets [10] - The core middle market remains attractive, with lower leverage and higher spreads compared to the upper middle market [10][12] Company Strategy and Development Direction - The company aims to focus on the core middle market, providing strategic capital to borrowers in five key sectors: business services, consumer, government services and defense, healthcare, and software and technology [12] - The company has taken significant steps to strengthen its balance sheet and enhance liquidity, positioning itself to take advantage of market opportunities [8][21] - The strategy includes maintaining rigorous underwriting standards and being selective in pursuing new investments [8] Management's Comments on Operating Environment and Future Outlook - Management noted that despite market volatility, the company had a solid quarter and expects originations to remain concentrated among existing portfolio companies [7] - The management anticipates that pricing will likely increase and leverage will moderate as buyers and lenders adjust to a new risk framework [8] - The company is optimistic about the upcoming vintage of loans, which is expected to be particularly attractive [8] Other Important Information - The company raised $163 million during the quarter through its ATM program, issuing 14.4 million shares at an average price of $11.33 per share [21] - The joint venture (JV) portfolio totaled $1.1 billion, with $60 million invested during the quarter at a weighted average yield of 9.8% [20] - The company has over $500 million of available capital, enhancing its ability to capitalize on market opportunities [21] Q&A Session Summary Question: On the equity raising during the quarter, was this a long-term capital build or an increase in pipeline activity? - Management indicated that the capital raised was part of preparing for a robust 2025, despite a slowdown in activity due to recent market events [29] Question: What is necessary to unlock new M&A activity in the market? - Management stated that certainty in tariffs and a stable environment are crucial for unlocking new M&A activity, with limited exposure to tariffs in their portfolio [33] Question: How much of the existing borrower activity is repricing versus growth capital? - Management noted that most activity is from existing platforms growing, with repricing having ended due to recent market changes [40] Question: How does the company view the equilibrium in the private credit market? - Management expressed that the focus on the core middle market remains strong, with larger players moving upmarket, creating more opportunities for the company [49]

Financial Performance - For the quarter ended March 2025, PennantPark (PFLT) reported revenue of $61.94 million, which is an increase of 39.7% compared to the same period last year [1] - EPS for the quarter was $0.28, down from $0.31 in the year-ago quarter [1] - The reported revenue fell short of the Zacks Consensus Estimate of $66.49 million, resulting in a surprise of -6.85% [1] - The company experienced an EPS surprise of -15.15%, with the consensus EPS estimate being $0.33 [1] Key Metrics - From non-controlled, non-affiliated investments, other income was reported at $0.63 million, below the average estimate of $1.19 million based on two analysts [4] - Interest income from non-controlled, non-affiliated investments was $49.22 million, exceeding the average estimate of $48.60 million, representing a year-over-year change of +61.5% [4] - Dividend income from non-controlled, non-affiliated investments was $0.37 million, compared to the estimated $0.58 million, reflecting a -36.1% change year-over-year [4] Stock Performance - Shares of PennantPark have returned +5.9% over the past month, outperforming the Zacks S&P 500 composite's +3.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

PennantPark (PFLT) came out with quarterly earnings of $0.28 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -15.15%. A quarter ago, it was expected that this investment company would post earnings of $0.31 per share when it actually produced earnings of $0.33, delivering a surprise of 6.45%.Over the last four quarters, the c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER: 814-00891 PENNANTPARK FLOATING RATE CAPITAL LTD. (Exact name of registrant as specified in its charter) 1691 Michigan Avenue Miami ...

EXHIBIT 99.1 PennantPark Floating Rate Capital Ltd. Announces Financial Results for the Second Quarter Ended March 31, 2025 MIAMI, May 12, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) announced today its financial results for the second quarter ended March 31, 2025. HIGHLIGHTS "We are pleased that we significantly increased our financial strength during the quarter. A lower cost credit facility, a new low cost long term securitization, new low cost securitization at our PSSL ...

MIAMI, May 12, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) announced today its financial results for the second quarter ended March 31, 2025. HIGHLIGHTSQuarter ended March 31, 2025 (Unaudited)($ in millions, except per share amounts) Assets and Liabilities: Investment portfolio (1) $2,344.1 <td style="ver ...

Core Points - PennantPark Floating Rate Capital Ltd. amended its credit facility agreement, reducing pricing to SOFR plus 200 basis points from SOFR plus 225 basis points, extending the reinvestment period to August 2028, and extending the maturity date to August 2030 [1][2] - The maximum first lien advance rate increased to 72.5% from 70.0%, while commitments decreased from $736 million to $718 million [1] Company Overview - PennantPark Floating Rate Capital Ltd. is a business development company that primarily invests in U.S. middle-market private companies through floating rate senior secured loans, including first lien secured debt, second lien secured debt, and subordinated debt [4] - The company is managed by PennantPark Investment Advisers, LLC, which manages approximately $10 billion of investible capital and offers a range of financing solutions to middle-market borrowers [5]

MIAMI, April 15, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the “Company”) (NYSE: PFLT) today announced that PennantPark Senior Secured Loan Fund I LLC (“PSSL”) through PSSL’s wholly-owned and consolidated subsidiary, PennantPark CLO 12, LLC (“CLO 12”) has closed a four-year reinvestment period, twelve-year final maturity $301 million debt securitization in the form of a collateralized loan obligation (“CLO” or “Securitization”). The debt issued in this Securitization (the “Debt”) is s ...

Company Overview - PennantPark Floating Rate Capital Ltd. is a business development company that primarily invests in U.S. middle-market private companies through floating rate senior secured loans, including first lien secured debt, second lien secured debt, and subordinated debt [3] - The company may also engage in equity investments from time to time [3] - PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC, which has a significant presence in the middle market credit sector [3] Management and Investment Platform - PennantPark Investment Advisers, LLC manages $9.8 billion of investable capital, including potential leverage, and has been operational since 2007 [4] - The firm provides a comprehensive range of creative and flexible financing solutions to private equity firms, their portfolio companies, and other middle-market borrowers [4] - PennantPark Investment Advisers, LLC is headquartered in Miami and has additional offices in New York, Chicago, Houston, Los Angeles, and Amsterdam [4] Upcoming Financial Reporting - The company will report its financial results for the second fiscal quarter ended March 31, 2025, on May 12, 2025, after the close of financial markets [1] - A conference call to discuss these results will be held on May 13, 2025, at 9:00 a.m. Eastern Time, with access available for all interested parties [2]

Core Viewpoint - PennantPark (PFLT) has received a Zacks Rank 1 (Strong Buy) upgrade, indicating a positive earnings outlook that may lead to increased stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with stock price movements [4][6]. - Rising earnings estimates for PennantPark suggest an improvement in the company's underlying business, likely resulting in higher stock prices [5][10]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7][9]. - Only the top 5% of Zacks-covered stocks receive a 'Strong Buy' rating, indicating superior earnings estimate revisions [9][10]. Earnings Estimate Revisions for PennantPark - For the fiscal year ending September 2025, PennantPark is expected to earn $1.33 per share, reflecting a year-over-year change of 4.7% [8]. - Over the past three months, the Zacks Consensus Estimate for PennantPark has increased by 4.4% [8].