TPG: 3Q Earnings Snapshot
FORT WORTH, Texas (AP) _ TPG Specialty Lending Inc. (TSLX) on Tuesday reported third-quarter earnings of $30.3 million.
The Fort Worth, Texas-based company said it had net income of 46 cents per share. Earnings, adjusted for investment costs, were 55 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The business development company posted revenue of $70.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $64.9 million.
TPG shares have increased 18% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $21.39, an increase of roughly 5% in the last 12 months.