Exhibit 99.1

 

 

 

Second Quarter 2019 Earnings Results

 

 

 

 

TPG Specialty Lending, Inc. Reports Second Quarter Net Investment Income Per Share of $0.47 and NAV Per Share of $16.68; Declares a Second Quarter Supplemental Dividend Per Share of $0.04 and a Third Quarter Base Dividend Per Share of $0.39

NEW YORK—July 31, 2019— TPG Specialty Lending, Inc. (NYSE: TSLX, or the “Company”) today reported net investment income of $31.1 million, or $0.47 per share, and net income of $47.8 million, or $0.72 per share, for the second quarter ended June 30, 2019. Reported net asset value per share was $16.68 at June 30, 2019 as compared to $16.34 at March 31, 2019.

The difference between this quarter's net investment income and net income was primarily driven by net unrealized gains specific to individual portfolio companies and net unrealized mark-to-market gains related to our interest rate swaps from a change in the shape of the forward LIBOR curve.

Annualized return on equity (ROE) for the second quarter 2019 was 11.6% and 17.7% on a net investment income and a net income basis, respectively. ROE for the trailing twelve month period ended June 30, 2019 was 12.9% on a net income basis.

The Company announced that its Board of Directors has declared a third quarter 2019 base dividend of $0.39 per share for stockholders of record as of September 13, 2019, payable on October 15, 2019. The Company’s Board of Directors also declared a second quarter 2019 supplemental dividend of $0.04 per share for stockholders of record as of August 30, 2019, payable on September 30, 2019.

 

 

  

 

 

 

Net Investment Income

Q2 2019 ($MM):

$31.1

Q2 2019 (per share):

$0.47

 

Net Income

Q2 2019 ($MM):

$47.8

Q2 2019 (per share):

$0.72

 

NAV

Q2 2019 ($MM):

$1,102

Q2 2019 (per share):

$16.68

Q2 2019 (per share, PF):

$16.64

 

ROE

Q2 2019 Annualized (NII):

Q2 2019 Annualized (NI):

11.6%

17.7%

LTM Q2 2019 (NI):

12.9%

 

 

Dividend (per share)

Q2 2019 (Supp.):

$0.04

Q3 2019 (Base):

$0.39

LTM Q2 2019 (Supp.):

$0.22

LTM Q2 2019 (Base):

 

LTM Q2 2019 (Total):

$1.56

 

$1.78

 

 

 


1


The following information was filed by Tpg Specialty Lending, Inc. (TSLX) on Wednesday, July 31, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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