FS Investment: 3Q Earnings Snapshot
PHILADELPHIA (AP) _ FS Investment Corp. (FSIC) on Wednesday reported a third-quarter loss of $11.3 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Philadelphia-based company said it had a loss of 5 cents. Earnings, adjusted for investment costs and non-recurring costs, came to 24 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The business development company posted revenue of $94.5 million in the period.
FS Investment shares have decreased roughly 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.72, a drop of 14 percent in the last 12 months.