10-K · July 1, 2026
PennantPark Investment Corporation reported a revenue of $24.9 million in Q2 2026, which was below the estimated $26.7 million, but matched EPS expectations at $0.14. The company also declared a monthly distribution of…
Earnings analysis · 10-Q
PNNT earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
PNNT reported net investment income per share of $0.14, matching consensus, but the supplied 10-Q excerpt does not provide current-quarter revenue, margins, segment results, balance-sheet data, or cash flow. The filing…
Read full summary
PNNT reported net investment income per share of $0.14, matching consensus, but the supplied 10-Q excerpt does not provide current-quarter revenue, margins, segment results, balance-sheet data, or cash flow. The filing highlights meaningful interest-rate sensitivity: 87% of the debt portfolio is variable-rate, with a 1% rate move affecting annualized net interest income by $2.511 million, or $0.04 per share. New disclosures regarding Middle East conflict and software-industry exposure add risk, while management stated that disclosure controls were effective as of June 30, 2026.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.14
What stood out
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EPS matched consensus
Net investment income per share was $0.14, matching the $0.14 consensus estimate. The filing excerpt does not disclose quarterly revenue, gross margin, operating margin, or free cash flow.
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Portfolio remains rate-sensitive
As of June 30, 2026, 87% of the debt portfolio consisted of variable-rate investments and 13% consisted of fixed-rate investments, leaving earnings sensitive to changes in SOFR and other floating-rate indices.
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Rate upside and downside quantified
A hypothetical 1% increase in base rates would increase annualized net interest income by $2.511 million, or $0.04 per share; a 1% decrease would reduce it by $2.511 million, or $0.04 per share.
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Controls remediation advanced
Management concluded that disclosure controls were effective for the period ended June 30, 2026 after enhancing review controls and policies related to equity investment valuations.
What to watch
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Geopolitical and rate exposure
The filing adds ongoing Middle East conflicts as a material uncertainty for global markets and portfolio companies. Separately, the portfolio's 87% variable-rate exposure means a 1% decline in base rates could reduce annualized net interest income by $2.511 million, or $0.04 per share.
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New software-sector risk disclosure
The filing identifies risks from software investments, including competition, aggressive pricing, technological obsolescence, and potentially falling margins. The risk is material given that 13% of the debt portfolio is fixed-rate and the company relies on investment returns to support earnings.
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Prior valuation-control weakness
A material weakness in quarterly review controls for equity investment valuations was previously identified in the September 30, 2025 Form 10-K. Although management concluded controls were effective as of June 30, 2026, the prior weakness remains a valuation-reporting risk.
Management's outlook
No quantitative revenue or EPS outlook was provided in the 10-Q. The filing does not state a change to prior guidance.
Earlier filings 4
10-Q · May 7, 2026
PennantPark Investment Corporation's Q2 2026 results indicate a notable revenue miss with reported revenue of $24.9 million, underperforming against the consensus estimate of $26.7 million. EPS met expectations at $0.14…
10-Q · February 9, 2026
PennantPark reported Q1 results with total investment income of $27,253,000 and net investment income per share of $0.11, missing consensus revenue of $28,900,516 and EPS of $0.16. Year-over-year investment income fell…
10-K · November 24, 2025
PennantPark Investment Corporation positions itself as a middle‑market direct lender/BDC focused on first‑ and second‑lien, subordinated debt and select equity investments, targeting average investment sizes of $10…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.