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Eagle Point Credit Co LLC, Eagle Point Credit Co LLC

Eagle Point Credit Company Inc. Announces First Quarter 2026 Financial Results

GREENWICH, Conn.--(BUSINESS WIRE)--May 19, 2026-- Eagle Point Credit Company Inc. (the “Company”) (NYSE: ECC, ECCC, ECC PRD, ECCU, ECCV) today announced financial results for the quarter ended March 31, 2026, and certain additional activity through April 30, 2026.

“The CLO market tends to underprice the reinvestment option precisely when it matters most, during periods of dislocation,” said Thomas P. Majewski, Chief Executive Officer. “What looks like short-term stress is often the moment of greatest embedded optionality, when CLOs can redeploy capital into discounted loans, materially enhancing long-term CLO equity returns. We are already seeing a meaningful rebound in CLO equity valuations in the second quarter.”

“We are continuing to deploy capital beyond CLO equity by leveraging the full origination capabilities of the Eagle Point platform. This strategy is already delivering results, highlighted by, among other things, our successful realization of a directly originated infrastructure investment over just a four-month hold period.”

FIRST QUARTER 2026 RESULTS

  • Net asset value (“NAV”) per common share of $4.17 as of March 31, 2026, compared to $5.70 as of December 31, 2025.
  • Net investment income (“NII”) of $0.20 per weighted average common share.1,2
  • NII less realized losses from investments of $0.14 per weighted average common share, compared to NII less realized losses from investments of negative $0.26 per weighted average common share for the quarter ended December 31, 2025, and $0.33 of NII and realized capital gains per weighted average common share for the quarter ended March 31, 2025.3
  • GAAP net loss (inclusive of unrealized mark-to-market losses) of $148.4 million, or $1.12 per weighted average common share.
  • GAAP net loss was comprised of total investment income of $42.4 million, gains from net unrealized losses on certain liabilities recorded at fair value of $1.7 million and realized gains on the retirement of the Company’s unsecured notes and preferred stock of $0.1 million, offset by net unrealized losses on investments of $159.0 million, financing costs and operating expenses of $16.3 million, realized losses on investments of $7.6 million, distributions and amortization of offering costs on temporary equity of $6.3 million and realized losses from forward currency contracts of $3.4 million.
  • Recorded other comprehensive income of $1.9 million.
  • Received $61.6 million in recurring cash distributions4 from the Company’s investment portfolio, or $0.47 per weighted average common share.
  • Deployed $100.2 million in gross capital into new investments. The weighted average effective yield of new investments made by the Company during the quarter, which includes a provision for future credit losses, was 18.9% as measured at the time of investment.
  • As of March 31, 2026, the Company’s investment portfolio consisted of 67% CLO equity investments, 32% other credit asset classes and the remaining balance in cash.
  • Completed 4 resets and 3 refinancings of the Company’s CLOs.
  • As of March 31, 2026:
    • The weighted average effective yield of the Company’s CLO equity portfolio (excluding called CLOs), based on amortized cost, was 9.3%. This compares to 11.7% as of December 31, 2025, and 13.7% as of March 31, 2025.5
    • The weighted average expected yield of the Company’s CLO equity portfolio (excluding called CLOs), based on fair market value, was 26.3%. This compares to 20.0% as of December 31, 2025, and 19.7% as of March 31, 2025.5
  • As of March 31, 2026, through its CLO equity investments, on a look-through basis, and based on the most recent CLO trustee reports received by such date:
    • The Company had indirect exposure to 1,841 unique corporate obligors.
    • The largest look-through obligor represented 0.6% of the underlying loan portfolio.
    • The top-ten largest obligors together represented 4.6% of the underlying loan portfolio.
    • The weighted average spread of the underlying loans was 3.15%, down 4 basis points from December 2025.
  • Completed the full redemption of the Company's 8.00% Series F Term Preferred Stock due 2029.

SECOND QUARTER 2026 PORTFOLIO ACTIVITY THROUGH APRIL 30, 2026, 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 as of April 30, 2026, is between $4.49 and $4.59.
  • Completed the full redemption of the Company’s 6.75% notes due 2031 and 6.6875% notes due 2028.
  • Received $51.0 million of recurring cash distributions from the Company’s investment portfolio. As of April 30, 2026, some of the Company’s investments had not yet reached their payment dates for the quarter.
  • Deployed $14.4 million of gross capital into new investments.
  • As of April 30, 2026, the Company had debt and preferred equity securities outstanding, pro forma for the redemption of the Company’s 6.75% notes due 2031 and 6.6875% notes due 2028, equal to 47.3% of its total assets (less current liabilities).6
  • As previously announced, the Company declared monthly distributions on its common stock of $0.06 per share for the third quarter of 2026.7

CONFERENCE CALL

The Company will host a conference call at 10:00 a.m. (Eastern Time) today to discuss the Company’s financial results for the quarter ended March 31, 2026, as well as a portfolio update.

All interested parties may participate in the conference call by dialing (877) 407-0789 (domestic) or (201) 689-8562 (international). Please reference Conference ID 13755165 when calling, and the Company recommends dialing in approximately 10 to 15 minutes prior to the call.

A live webcast will also be available on the Company’s website (www.EaglePointCreditCompany.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 June 19, 2026. To hear the replay, please dial (844) 512-2921 (toll-free) or (412) 317-6671 (international). For the replay, enter Conference ID 13755165.

ADDITIONAL INFORMATION

The Company has made available on the investor relations section of its website, www.EaglePointCreditCompany.com (in the financial statements and reports section), its unaudited consolidated financial statements as of and for the period ended March 31, 2026. 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 March 31, 2026. The Company has also filed these reports with the SEC.

ABOUT EAGLE POINT CREDIT COMPANY

The Company is a non-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 appreciation. The Company seeks to achieve its investment objectives by investing primarily in equity and junior debt tranches of CLOs. The Company may also invest in other securities consistent with its investment objectives. The Company is externally managed and advised by Eagle Point Credit 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.EaglePointCreditCompany.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.

2 NII does not reflect distributions and amortization of offering costs on the Series D Preferred Stock and the Series AA/AB Convertible Perpetual Preferred Stock (collectively with the Series D Preferred Stock, the “temporary equity”) of $0.05 per weighted average common share.

3 Commencing in the second quarter of 2025, realized gains/losses from forward currency contracts are reported separately from NII and realized gains/losses per share. For the quarter ended March 31, 2025, NII less realized losses per share included $0.03 per share of realized gains from forward currency contracts.

4 “Recurring cash distributions” refers to the quarterly distributions received by the Company from its CLO equity, CLO debt and other investments and distributions from loan accumulation facilities in excess of capital invested and excludes funds received from CLOs called.

5 “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.

6 Over the long term, management expects to generally operate the Company with leverage within a range of 27.5% to 37.5% of total assets (less current liabilities) under normal market conditions. The Company may incur leverage outside of this range, subject to applicable regulatory limits.

7 The ability of the Company to declare and pay distributions on its common stock is subject to a number of factors, including the Company’s results of operations. Distributions on its common stock are generally paid from NII (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 US 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.

 

Investor and Media Relations:
Prosek Partners
(203) 340-8510
IR@eaglepointcredit.com
www.EaglePointCreditCompany.com

Source: Eagle Point Credit Company Inc.