Solar Capital: 2Q Earnings Snapshot
NEW YORK (AP) _ Solar Capital Ltd. (SLRC) on Monday reported second-quarter earnings of $19.6 million.
On a per-share basis, the New York-based company said it had net income of 46 cents. Earnings, adjusted for investment gains, were 44 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 44 cents per share.
The business development company posted revenue of $38.7 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $40.4 million.
Solar Capital shares have increased 6.5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $20.43, a drop of nearly 5% in the last 12 months.