SLR Investment Corp (LTS:0L7O)
$ 16.1499 -0.1001 (-0.62%) Market Cap: 882.69 Mil Enterprise Value: 1.64 Bil PE Ratio: 9.14 PB Ratio: 0.89 GF Score: 65/100
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Q3 2024 SLR Investment Corp Earnings Call Transcript

Nov 07, 2024 / 03:00PM GMT
Release Date Price: $15.91 (+4.40%)

Key Points

Positve
  • SLR Investment Corp (SLRC) reported stable net investment income of 45¢ per share for Q3 2024, consistent with the prior quarter.
  • The company's net asset value remained stable at $18.20 per share, reflecting strong credit quality.
  • SLRC's portfolio is heavily weighted towards special finance investments, which are considered more recession-resilient.
  • The company successfully acquired an asset-based factoring portfolio from Western banks, enhancing its ABL capabilities.
  • SLRC has over $750 million of available capital, positioning it well for future economic conditions.
Negative
  • The sponsor finance market remains fiercely competitive, impacting SLRC's ability to originate new loans in this segment.
  • SLRC's life sciences portfolio faces challenges due to increased defaults and weaker lender protections.
  • The company experienced a net realized and unrealized loss of $2.3 million for the third quarter.
  • SLRC's portfolio includes one investment on non-accrual, representing 0.6% of the investment portfolio on a cost basis.
  • The life sciences industry continues to face valuation challenges, affecting SLRC's investment pipeline.
Operator

Good day everyone and welcome to today's third quarter 2024 SLR Investment Corp earnings call at this time all participants are in a listen-only mode later. You will have the opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing the star and one on your telephone keypad. Please note this call is being recorded and I will be standing to turn the conference over to Michael Gross Chairman and co CEO.

Michael Gross
SLR Investment Corp - Chairman, CEO ,President

Thank you very much and good morning. Welcome to SLR Investment Corp earnings call the quarter ended September 30th 2024. I'm joined here today by my long term partner of 18 years Bruce Spohler Co-Chief Executive Officer, our Chief Finance officer Shiraz Kajee and the SLR Investor relations team, Shiraz before you begin. Would you please start by covering the webcast and forward-looking statements?

Shiraz Kajee
SLR Investment Corp - Chief Finance officer

Thank you Michael, Good morning

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