Triangle Capital Earnings: Here’s Why Investors are Ambivalent Now

Triangle Capital Corporation (NASDAQ:TCAP) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

Triangle Capital Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 15.69% to $0.59 in the quarter versus EPS of $0.51 in the year-earlier quarter.

Revenue: Rose 24.32% to $27.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Triangle Capital Corporation reported adjusted EPS income of $0.59 per share. By that measure, the company beat the mean analyst estimate of $0.57. It beat the average revenue estimate of $24.72 million.

Quoting Management: In commenting on the Company’s results, Garland S. Tucker, III, Chief Executive Officer, stated, “The second quarter was another very successful quarter for Triangle. Our $0.59 of net investment income per share represented a 13.5% year-over-year increase and our $0.54 dividend per share represented an 8.0% year-over-year increase. Our portfolio exits during the quarter generated combined returns in excess of 24% and new investment activity, which has been light thus far during 2013, appears to be gaining significant momentum. As a result, we are very pleased with our operating model and the financial results we continue to generate for our shareholders.”

Key Stats (on next page)…

Revenue decreased 2.81% from $28.09 million in the previous quarter. EPS increased 5.36% from $0.56 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.58 and has not changed. For the current year, the average estimate has moved up from a profit of $2.3 to a profit of $2.31 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at]