AINV - Apollo Investment fiscal Q3 earnings helped by fee and prepayment income
Apollo Investment (NASDAQ:AINV) fiscal Q3 earnings beat the consensus estimate and the company's board increased its stock buyback authorization by $25M. "Results for the December quarter benefited from strong fee and prepayment income and also reflect the benefit from the ongoing monetization of non-earning or under-earning non-core assets," said AINV CEO Howard Widra. Fiscal Q3 net investment income per share of $0.35, exceeds the average analyst estimate of $0.34 and increased from $0.33 in the previous quarter. Net asset value per share of $16.08 at Dec. 31, 2021 gained a penny from $16.07 at Sept. 30. New investment commitments made during the quarter were $271M vs. $332M in fiscal Q2. Gross fundings during fiscal Q3 totaled $335M, consisting of $234M of term loans and $101M of revolving loans, up from $295M of gross fundings in the prior quarter. Gross exits during the quarter of $358M vs. $266M in Q2. Net
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Apollo Investment fiscal Q3 earnings helped by fee and prepayment income