CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Barings BDC, Inc. (BBDC) on Thursday reported a fourth-quarter loss of $1.3 million, after reporting a profit in the same period a year earlier.
The Charlotte, North Carolina-based company said it had a loss of 1 cent per share. Earnings, adjusted for investment costs, came to 34 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The business development company posted revenue of $63.5 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $62.5 million.
For the year, the company reported profit of $4.7 million, or 5 cents per share. Revenue was reported as $219.1 million.
Barings BDC shares have increased slightly more than 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.66, a decrease of 20% in the last 12 months.
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