DALLAS (AP) _ Sixth Street Specialty Lending, Inc. (TSLX) on Tuesday reported first-quarter net income of $56.7 million, after reporting a loss in the same period a year earlier.
The Dallas-based company said it had net income of 75 cents per share. Earnings, adjusted for investment gains, were 53 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The business development company posted revenue of $66.2 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $63.1 million.
Sixth St shares have climbed almost 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.15, an increase of 43% in the last 12 months.
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