Logan Ridge Finance Corporation Announces Q2 2024 Financial Results

Overview

Logan Ridge Finance Corporation (NASDAQ: LRFC) has reported its financial results for the quarter ending June 30, 2024.

Key Financial Metrics

The table below summarizes the key financial metrics for Logan Ridge Finance Corporation for Q2 2024:

Logan Ridge Finance Corporation's EPS met analyst expectations at $0.35, reflecting a 9.4% increase year-over-year (YoY) but a 7.9% decline quarter-over-quarter (QoQ). Total revenue of $5.5 million was flat YoY but below the consensus estimate of $5.6 million.

Segment Performance

The company's revenue performance across major segments is as follows:

Note: The earnings report did not provide detailed revenue figures or guidance for individual segments.

Comments from Company Officers

[No information provided in the earnings release regarding company officers' comments.]

Dividends and Share Repurchase Program

During the three months ended June 30, 2024, Logan Ridge Finance did not repurchase any shares under its share repurchase program. However, the company repurchased 20,867 shares at an aggregate cost of approximately $0.5 million during the six months ended June 30, 2024.

On August 7, 2024, the company's Board of Directors declared a dividend of $0.33 per share, payable on August 30, 2024, to stockholders on record as of August 22, 2024.

Forward Guidance

[No forward guidance was mentioned in the earnings release.]

Stock Price Movement

Following the earnings release, Logan Ridge Finance Corporation’s stock experienced a slight decline of -0.92%.

Note: Some sections were skipped due to the lack of information provided in the earnings release.