PNNT · PennantPark Investment Corporation

PennantPark Investment Corporation reported financial results for the second fiscal quarter ended March 31, 2026. Net investment income (NII) was $9.3 million, or $0.14 per share, down from $11.4 million, or $0.18 per share, in the same quarter last year. The decline was driven by a decrease in investment income due to a smaller portfolio size and lower weighted average yield on debt investments (10.9% vs. 11.0% in the prior quarter). Core NII per share, which excludes one-time items, was also $0.14. The company declared a base distribution of $0.20 per share and a supplemental distribution of $0.04 per share, exceeding NII. Net asset value per share fell 3.9% to $6.73 from $7.00 at September 30, 2025, reflecting net realized and unrealized losses. Management highlighted a focus on rotating out of equity positions into debt investments to drive core NII growth. The portfolio had four non-accrual companies representing 2.7% of cost. The company also issued $75.0 million of 7.0% unsecured 2029 Notes in January 2026.