Earnings Releases·Nov 5, 2026, 8:30 AM ET

CION Investment Corporation — Third Quarter 2026 Earnings Summary

Net investment income per share declined to $0.25 from $0.29 in the prior quarter, while earnings per share shifted to a loss of $(0.07) from $0.62, driven by a $6.7 million net unrealized loss compared to $34.8 million in gains previously.
The company executed a strategic balance sheet strengthening plan, reducing total debt from $1.17 billion to $897 million and lowering the net debt-to-equity ratio from 1.52x to 1.30x, below management targets.
Major capital activities included the launch of the Senior Loan Fund Partners joint venture (SLFP) with $125 million in notes, the sale of $180.3 million in first lien loans to SLFP, and the full repayment of $200 million in JPM Credit Facility borrowings.
Management expressed confidence in the portfolio heading into 2027, attributing lower earnings to deliberate deleveraging and asset sales rather than fundamental credit quality declines, though non-accrual investments rose to 1.63% of the portfolio.
Distributions declared for the quarter were $0.30 per share, with base distributions for Q1 2027 declared at $0.25 per share payable in three installments.