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Eagle Point Income Company Inc. Announces Second Quarter 2025 Financial Results and Declares Fourth Quarter 2025 Common and Preferred Distributions

via Business Wire

Eagle Point Income Company Inc. (the “Company”) (NYSE: EIC, EICA, EICB, EICC) today announced financial results for the quarter ended June 30, 2025 and certain additional activity through July 31, 2025, and declared distributions on shares of the Company’s common and preferred stock.

“We remain proactive in managing our portfolio, with a focus on generating strong cash flows from investments and net investment income,” said Thomas P. Majewski, Chairman and Chief Executive Officer. “During the quarter, we opportunistically deployed over $40 million into attractive CLO debt and equity investments, taking advantage of the market dislocation earlier in the quarter, buying CLO debt at discounted prices that we hadn’t seen in over a year.”

“Notably, as of July 31, our per share NAV fully recovered from the second quarter lows and is above where we stood in March. In June, we announced and executed on a common stock repurchase program, buying back millions of dollars of our common stock, further increasing our NAV.”

SECOND QUARTER 2025 RESULTS

  • Net asset value (“NAV”) per common share of $14.08 as of June 30, 2025, compared to $14.16 as of March 31, 2025.
  • Net investment income (“NII”) and realized gains of $0.39 per weighted average common share.1 This compares to $0.44 of NII and realized gains per weighted average common share for the quarter ended March 31, 2025, and $0.44 of NII and realized gains per weighted average common share for the quarter ended June 30, 2024.
  • GAAP net income (inclusive of unrealized mark-to-market gains) of $12.9 million, or $0.49 per weighted average common share.
  • Received $17.7 million in recurring cash distributions2 from the Company’s investment portfolio or $0.67 per weighted average common share, below the Company’s aggregate distributions on its common stock and operating costs for the quarter.
  • Deployed $40.1 million in gross capital into collateralized loan obligation (“CLO”) debt and equity and other investments and received $18.9 million from repayments and sales within the Company’s investment portfolio.
  • As of June 30, 2025:
    • The weighted average effective yield of the Company’s CLO portfolio, based on amortized cost, was 10.63%. This compares to 11.12% as of March 31, 2025 and 13.09% as of June 30, 2024.3
    • The weighted average expected yield of the Company’s CLO portfolio, based on fair market value, was 11.68%. This compares to 12.76% as of March 31, 2025 and 14.41% as of June 30, 2024.3
  • Issued approximately 1.4 million shares of common stock, 30,641 shares of the Company’s 7.75% Series B Term Preferred Stock due 2028 (the “Series B Term Preferred Stock”) and 399,465 shares of the Company’s 8.00% Series C Term Preferred Stock due 2029 (the “Series C Term Preferred Stock”) pursuant to the Company’s “at-the-market” offering for total net proceeds to the Company of $30.5 million. The common stock issuance resulted in $0.01 per share of NAV accretion during the quarter.
  • Authorized a program to repurchase up to $50 million of the Company’s common stock in the open market. As of June 30, 2025, the Company had repurchased over 488,000 shares of its common stock for $6.5 million, at an average price of $13.28 per share. All repurchased shares were retired.
  • As of June 30, 2025, the Company had outstanding preferred equity securities and borrowings from the Company’s credit facility, which totaled 30.7% of total assets (less current liabilities).4
  • As of June 30, 2025, on a look-through basis, and based on the most recent CLO trustee reports received by such date:
    • The Company, through its CLO investments, had indirect exposure to approximately 1,464 unique corporate obligors.
    • The largest look-through obligor represented 0.6% of the loans underlying the Company’s CLO debt and equity portfolio.
    • The top-ten largest look-through obligors together represented 4.9% of the loans underlying the Company’s CLO debt and equity portfolio.
  • GAAP net income was comprised of total investment income of $15.3 million, net realized gains of $0.5 million and net unrealized gains on investments of $3.6 million, partially offset by net unrealized losses on certain liabilities recorded at fair value of $1.0 million and financing and operating expenses of $5.5 million.
  • Recorded other comprehensive income of $0.4 million.

THIRD QUARTER 2025 PORTFOLIO ACTIVITY THROUGH JULY 31, 2025 AND OTHER UPDATES

  • As previously published on the Company’s website, management’s estimate of the range of the Company’s NAV per common share is estimated to be between $14.34 and $14.44 as of July 31, 2025.
  • Received $16.7 million of recurring cash distributions from the Company’s investment portfolio. As of July 31, 2025, some of the Company’s investments had not yet reached their payment date for the quarter.
  • Deployed $12.2 million of gross capital into CLO debt and equity and other investments and received $30.4 million from repayment and sales within the Company’s investment portfolio.
  • As of July 31, 2025, the Company had $51.7 million of cash and capacity on its revolving credit facility available for investment, among other purposes.

FOURTH QUARTER 2025 DISTRIBUTIONS

The Company has declared three separate monthly distributions of $0.13 per share on its common stock for the fourth quarter of 2025.5 The following schedule applies to the distributions:

Amount per Common Share

Record Date

Payable Date

$0.13

October 14, 2025

October 31, 2025

$0.13

November 10, 2025

November 28, 2025

$0.13

December 11, 2025

December 31, 2025

The Board of Directors considers a variety of factors when declaring monthly distributions, including but not limited to cash flow generated from the Company’s investment portfolio, GAAP earnings and the Company’s requirement to distribute substantially all of its taxable income.

The Company also announced the declaration of distributions on shares of the Company’s 5.00% Series A Term Preferred Shares due 2026 (the “Series A Term Preferred Stock”), Series B Term Preferred Stock and Series C Term Preferred Stock as follows:

Preferred Stock Type

Amount per Share

Record Dates

Payable Dates

Series A Term Preferred Stock

$0.104167

October 14, 2025

November 10, 2025

December 11, 2025

October 31, 2025

November 28, 2025

December 31, 2025

Series B Term Preferred Stock

$0.161459

Series C Term Preferred Stock

$0.166667

The distributions on the Series A Term Preferred Stock, Series B Term Preferred Stock and Series C Term Preferred Stock reflect an annual distribution rate of 5.00%, 7.75% and 8.00%, respectively, of the $25 liquidation preference per share.

CONFERENCE CALL

The Company will host a conference call at 11:30 a.m. (Eastern Time) today to discuss the Company’s financial results for the quarter ended June 30, 2025, as well as a portfolio update.

All interested parties may participate in the conference call by dialing (877) 704-4453 (domestic) or (201) 389-0920 (international). Please reference Conference ID 13754634 when calling and you are invited to dial in approximately 10 to 15 minutes prior to the start of the call.

A live webcast will also be available on the Company’s website (www.eaglepointincome.com). Please go to the Investor Relations section at least 15 minutes prior to the call to register, download and install any necessary audio software.

An archived replay of the call will be available shortly afterwards until September 11, 2025. To hear the replay, please dial (844) 512-2921 (toll-free) or (412) 317-6671 (international). For the replay, enter Conference ID 13754634.

ADDITIONAL INFORMATION

The Company has made available on the investor relations section of its website, www.eaglepointincome.com (in the financial statements and reports section), its unaudited consolidated financial statements as of and for the period ended June 30, 2025. The Company has also filed this report with the U.S. Securities and Exchange Commission (“SEC”). The Company also published on its website (in the presentations and events section) an investor presentation, which contains additional information about the Company and its portfolio as of and for the quarter ended June 30, 2025.

ABOUT EAGLE POINT INCOME COMPANY

The Company is a diversified, closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital gains. The Company seeks to achieve its investment objectives by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 35% of its total assets (at the time of investment) in CLO equity securities. The Company is externally managed and advised by Eagle Point Income Management LLC.

In addition to the Company’s regulatory requirement to file certain portfolio information with the SEC, the Company makes certain additional financial information available to investors via its website (www.eaglepointincome.com), press releases and other public disclosures.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company’s other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

 

1 “Per weighted average common share” is based on the average daily number of shares of common stock outstanding for the period and “per share” refers to per share of the Company’s common stock.

2 “Recurring cash distributions” refers to the quarterly distributions received by the Company from its CLO debt, CLO equity and other investments.

3 “Weighted average effective yield” is based on an investment’s amortized cost whereas “weighted average expected yield” is based on an investment’s fair market value as of the applicable period end as disclosed in the Company’s financial statements, which is subject to change from period to period. Please refer to the Company’s quarterly unaudited financial statements for additional disclosures.

4 Over the long term, management expects to generally operate the Company with leverage within a range of 25% to 35% of total assets (less current liabilities) under normal market conditions. The Company may incur leverage outside of this range, subject to applicable regulatory limits.

5 The ability of the Company to declare and pay distributions on stock is subject to a number of factors, including the Company’s results of operations. Distributions on stock are generally paid from net investment income (regular interest and dividends) and may also include capital gains and/or a return of capital. The actual components of the Company’s distributions for U.S. tax reporting purposes can only be finally determined as of the end of each fiscal year of the Company and are thereafter reported on Form 1099-DIV.

 

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