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Rand Capital Q3 investment income falls 17% yr/yr

By Reuters News


Overview

  • U.S. business development company's fiscal Q3 total investment income fell 17% yr/yr

  • Net investment income for Q3 declined to $0.23 per share from $0.33 last year

  • Interest income from portfolio companies rose 4% sequentially, driven by new investments


Outlook

  • Rand Capital did not provide specific financial guidance for the current or future periods in the press release


Result Drivers

  • NON-ACCRUAL INVESTMENTS - Co said lower total investment income was primarily due to certain investments being placed on non-accrual status, reducing interest income

  • NEW INVESTMENTS - Sequential increase in interest income attributed to contributions from investments made earlier in the year

  • PORTFOLIO VALUATION CHANGES - Valuation increases in some portfolio companies were partly offset by decreases in others


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Dividend Income

$28,000


Reuters Recommended Reads

  • Nov 2 - New Mountain Finance Q3 adjusted net investment income falls YoY

  • Nov 3 - SLR Investment Q3 investment income falls on smaller portfolio

  • Nov 2 - Great Elm Capital Q3 net investment income and NAV fall


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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