Logan Ridge Finance Corporation (NASDAQ:LRFC) Q3 2022 Results Conference Call November 9, 2022 10:00 AM ET
Company Participants
Ted Goldthorpe - President and Chief Executive Officer
Jason Roos - Chief Financial Officer
Patrick Schafer - Chief Investment Officer
Conference Call Participants
Christopher Nolan - Ladenburg Thalmann
Steven Martin - Slater
Operator
Good morning and welcome to Logan Ridge Finance Corporation's Third Quarter Ended September 30, 2022 Earnings Conference Call.
An earnings press release was distributed yesterday after the close of market. A copy of the release, along with supplemental earnings presentation is available on the company's website at www.loganridgefinance.com in the investors resources section and should be reviewed in conjunction with the company's Form 10-Q filed with the SEC. As a reminder, this conference call is being recorded for replay purposes.
Please note that today's conference call may contain forward-looking statements which 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 company's filings with the SEC. Logan Ridge Finance Corporation assumes no obligation to update any such forward-looking statements unless required by law.
Speaking on today's call will be Ted Goldthorpe, Chief Executive Officer, President and Director of Logan Ridge Finance Corporation; Jason Roos, Chief Financial Officer; and Patrick Schafer, Chief Investment Officer.
With that, I would now like to turn the call over to Ted Goldthorpe, Chief Executive Officer of Logan Ridge Finance Corporation.
Ted Goldthorpe
Thank you. Good morning, and welcome to our third quarter 2022 earnings call. As mentioned, I’m joined today by our Chief Financial Officer, Jason Roos and our Chief Investment Officer, Patrick Schafer. Following my opening remarks, Patrick will provide additional detail on our investment activity to-date and Jason will walk through the financials.
To open, I would like to remind shareholders that, back in August when we reported our second quarter results, we told you that the second quarter of 2022 was transformative for the company and that the fruits of our labor will begin to be evident in the performance of the company during the second half of 2022. Fast forward to today, I'm pleased to say that, the company has reported its first quarter of positive NII under our stewardship, a significant milestone for the company.
While Patrick will provide additional details in the portfolio I would like to highlight that, we believe Logan Ridge's portfolio is strong and substantially de-risked, having increased diversity from 32 portfolio companies when we took managing the portfolio on July 1, 2021 to 54 portfolio companies as of September 30, 2022.