Garrison Capital: 2Q Earnings Snapshot
NEW YORK (AP) _ Garrison Capital Inc. (GARS) on Tuesday reported second-quarter earnings of $2.8 million.
The New York-based company said it had profit of 18 cents per share. Earnings, adjusted for investment costs, came to 27 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The business development company posted revenue of $9.7 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $9.9 million.
Garrison Capital shares have increased nearly 3 percent since the beginning of the year. The stock has climbed roughly 6 percent in the last 12 months.