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GREENWICH, Conn. - Eagle Point Income Company Inc. (NYSE: EIC, EICA, EICB, EICC), a closed-end management investment company, has announced a new stock repurchase program. The board of directors has authorized the repurchase of up to $50 million of the company’s common stock in the open market.
The buyback program is set to remain active until June 9, 2026, but it may be subject to changes depending on various factors. These include the company’s stock performance, prevailing market conditions, legal requirements, and other pertinent factors. It’s important to note that the program does not obligate Eagle Point Income to execute any repurchases and can be adjusted, paused, or terminated at any given time.
Eagle Point Income focuses primarily on investing in junior debt tranches of collateralized loan obligations (CLOs). It also has the option to allocate up to 35% of its total assets in CLO equity securities. The company aims to generate high current income and, to a lesser extent, capital appreciation. Eagle Point Income Management LLC externally manages and advises the company, which has demonstrated strong performance with a 68.61% revenue growth in the last twelve months. InvestingPro analysis reveals several additional insights about the company’s performance and prospects, available in their comprehensive Pro Research Report.
For investors and stakeholders, Eagle Point Income provides unaudited portfolio information monthly on its website. This includes estimated ranges of net investment income, realized capital gains or losses per share, and net asset value (NAV) per share. The company also updates NAV estimates and financial results for each quarter within a specified timeframe after month-end. With an overall financial health score rated as "GOOD" by InvestingPro, the company maintains a current ratio of 1.21, indicating solid liquidity management.
This initiative is part of the company’s capital allocation strategy and reflects its commitment to managing its share value actively. The repurchase program’s commencement will depend on the aforementioned factors, and the company has the flexibility to manage the buyback as market conditions evolve.
The information in this article is based on a press release statement from Eagle Point Income Company Inc. As with all financial decisions, the company’s forward-looking statements are subject to risks and uncertainties, and the actual outcomes could differ materially from those anticipated.
In other recent news, Eagle Point Income Company reported its financial results for the first quarter of 2025, revealing net investment income and realized gains of $0.44 per share. This represents a decrease from $0.54 per share in the previous quarter. The company also estimated its net asset value (NAV) per share to be between $14.08 and $14.18 as of May 31, 2025. Additionally, Eagle Point Income reduced its monthly distribution from $0.20 to $0.13 per share. The company raised $64 million through an At-the-Market program, enhancing its liquidity position. Analysts have noted the strategic deployment of $120 million across CLO debt and equity purchases as a proactive approach to capitalize on market opportunities. CEO Thomas Majewski emphasized the potential benefits of market volatility for the company’s future performance. Eagle Point Income’s management highlighted its readiness to benefit from potential interest rate increases.
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