APO - Apollo Investment fiscal Q4 earning beat; non-core assets weigh on NAV

Apollo Investment (NASDAQ:AINV), a closed-end investment company managed by an affiliate of Apollo Global Management (APO), on Thursday posted better than expected earnings for the last quarter of its fiscal year, but net asset value per share dipped during the quarter on certain non-core assets. Q4 FY2022 net investment income of $0.42 per share exceeding the average analyst estimate of $0.34, and up from $0.35 in the previous quarter. Net asset value per share at the end of the quarter was $15.79 at March 31, 2022, down 1.8% from $16.08 at Dec. 31, 2021; the drop is attributable to a decline in Merx Aviation Finance and certain non-core assets. "We continue to make substantial progress reducing our exposure to non-core assets with the receipt of significant cash proceeds from the repayment of non-core assets," said CEO Howard Widra. "Pro-forma for post quarter end paydowns and pending sales, non-core assets represent

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Apollo Investment fiscal Q4 earning beat; non-core assets weigh on NAV