TPG: 4Q Earnings Snapshot
FORT WORTH, Texas (AP) _ TPG Specialty Lending Inc. (TSLX) on Wednesday reported fourth-quarter profit of $37.7 million.
The Fort Worth, Texas-based company said it had profit of 57 cents per share. Earnings, adjusted for investment gains, came to 51 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The business development company posted revenue of $66.5 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $64.2 million.
For the year, the company reported profit of $154.6 million, or $2.34 per share. Revenue was reported as $251.5 million.
TPG shares have climbed slightly more than 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.61, a rise of 10% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSLX at https://www.zacks.com/ap/TSLX