Barings BDC: Q2 Earnings Snapshot
CHARLOTTE, N.C. (AP) _ Barings BDC, Inc. (BBDC) on Tuesday reported a second-quarter loss of $25 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Charlotte, North Carolina-based company said it had a loss of 23 cents. Earnings, adjusted for investment costs, came to 29 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The business development company posted revenue of $55.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $52.8 million.
Barings BDC shares have fallen nearly 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.04, a fall of slightly more than 8% in the last 12 months.