PennantPark Floating Rate Capital Issues Press Release Announcing Fiscal Year 2024 Financial Results

On November 25, 2024, PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) released a press statement revealing its financial outcomes for the fourth fiscal quarter and fiscal year concluding on September 30, 2024. The company detailed that a press release outlining these results has been attached as Exhibit 99.1 in its Form 8-K filing under Item 2.02. The information in the filing, including the provided exhibit, is being shared and is not considered to be “filed” for SEC purposes under Section 18 of the Securities Exchange Act of 1934.

Within the report, PennantPark issued caution regarding forward-looking statements, emphasizing that while they use phrases such as “anticipates,” “believes,” and “expects” when discussing future prospects, these are not guarantees of actual performance due to inherent risks and uncertainties in the market.

The company disclosed figures highlighting the fiscal improvements in their operations. The financial report indicated an accomplishment for Fiscal Year 2024, showcasing promising results over the previous year. Key highlights included a substantial rise in revenue to $1.35 billion, up by 19%, with a record Adjusted EBITDA of $183 million, marking a significant increase of $95 million.

PennantPark indicated a boost in Adjusted EBITDA with a margin of 13.6%, showcasing a robust 6 percentage-point growth from the preceding year. This successful expansion was underpinned by a heightened market demand, stronger revenue growth, and enhanced productivity. The report also underscored the company’s proactive steps to enhance its presence in alternative-powered buses, coinciding with the growth trajectory of the electric vehicle segment.

As part of the disclosure under Item 9.01, the filing stated that there were no financial statements attached. The company did not report any shell company transactions or pro forma financial information. Additionally, PennantPark’s registration symbol on the New York Stock Exchange is PFLT.

The Form 8-K was signed by Richard T. Allorto, Jr., Chief Financial Officer & Treasurer of PennantPark Floating Rate Capital Ltd., on November 25, 2024. For further details and a deeper analysis of the financial outcomes, the full Form 8-K document and its respective exhibit 99.1 are accessible through the company’s SEC filings and official sources.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read PennantPark Floating Rate Capital’s 8K filing here.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.