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THL Credit tops Street 3Q forecasts

BOSTON (AP) _ THL Credit Inc. (TCRD) on Thursday reported third-quarter net income of $4.1 million.

The Boston-based company said it had net income of 13 cents per share. Earnings, adjusted for investment costs, were 34 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The business development company posted revenue of $20.1 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $19.7 million.

THL Credit shares have dropped 10 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.01, a drop of slightly more than 2 percent 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 TCRD at https://www.zacks.com/ap/TCRD