TPG: 4Q Earnings Snapshot
FORT WORTH, Texas (AP) _ TPG Specialty Lending Inc. (TSLX) on Wednesday reported fourth-quarter earnings of $14.2 million.
On a per-share basis, the Fort Worth, Texas-based company said it had profit of 22 cents. Earnings, adjusted for investment costs, were 67 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The business development company posted revenue of $74.7 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $65.1 million.
For the year, the company reported profit of $119 million, or $1.86 per share. Revenue was reported as $261.9 million.
TPG shares have climbed 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.72, a climb of 14 percent in the last 12 months.