Equus Total Return, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 04:08 pm EST
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Equus Total Return, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 0.042 million. Net income was USD 7.08 million compared to net loss of USD 0.925 million a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to basic loss per share from continuing operations of USD 0.07 a year ago.
For the nine months, revenue was USD 0.06 million. Net income was USD 11.89 million compared to net loss of USD 0.135 million a year ago. Basic earnings per share from continuing operations was USD 0.88 compared to basic loss per share from continuing operations of USD 0.01 a year ago.
EQUUS Total Return, Inc. (the Fund) is a closed-end management investment company. Its investment objective is to maximize the total return to the Company's stockholders in the form of current investment income and long-term capital gains by investing in the debt and equity securities of small and middle market capitalization companies that are generally not publicly traded at the time of its investment. It seeks to invest in companies pursuing growth through acquisition or organically, leveraged buyouts, management buyouts and recapitalizations of existing businesses or special situations. Its income-producing investments consist of debt securities, including bonds, subordinated debt, debt convertible into common or preferred stock, or debt combined with warrants and common and preferred stock. It invests in the portfolio company, Equus Energy, LLC, which makes investments in companies in the energy sector, with particular emphasis on income-producing oil and gas properties.