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Golub Capital Bdc (GBDC)
NASDAQ:GBDC
Holding GBDC?
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Earnings Data
Report Date
Feb 05, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
$0.43Last Year’s EPS
$0.5Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 19, 2024
|% Change Since: 0.20%
|Next Earnings Date:Feb 05, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted a strong fiscal quarter with significant achievements in revenue growth, strategic financial structuring, and shareholder returns. However, challenges in credit performance and an increase in nonaccrual investments were noted as significant concerns.Company Guidance
During the GBDC earnings call for Q4 2024, the company provided guidance reflecting a strong fiscal year despite market challenges. Notable metrics included an adjusted NII per share of $0.47, implying an adjusted NII return on equity of 12.4% for the quarter and 12.9% for the full fiscal year. The adjusted net income per share was reported at $0.36, with an adjusted return on equity of 9.4% for the quarter and 10.7% for the year. The portfolio experienced near $1 billion in gross originations, translating to a 5% net portfolio growth, although high base rates and a voluntary $0.03 per share incentive fee waiver aided earnings. Despite facing headwinds from underperforming borrowers, GBDC managed to restructure key investments, which led to realized losses, yet positioned the company for long-term upside potential. The leverage increased to 1.09 turns of debt to equity, and the NAV per share was adjusted to $15.19, reflecting a $0.13 decrease from the last quarter. The board declared total distributions of $0.43 per share, with a regular quarterly distribution of $0.39 and a supplemental distribution of $0.04 per share. The company also implemented several post-quarter-end debt funding initiatives to reduce the cost of funds, enhancing its competitive positioning.Strong Adjusted NII and Return on Equity
Adjusted NII per share was $0.47 for the quarter, corresponding to an adjusted NII return on equity of 12.4%. For the full fiscal year, this was 12.9%.
Successful Debt Funding Initiatives
Post-quarter end, GBDC priced a new $2.2 billion term debt securitization, leading to an expected reduction in borrowing costs. This is anticipated to benefit GBDC's cost structure significantly by the March 31, 2025, quarter.
Improved Portfolio Performance
Despite challenges, GBDC's portfolio grew by $368 million sequentially, representing a 5% increase in size, with strong repeat borrower engagement and a net leverage target increase providing a tailwind for profitability.
Strategic Use of Fee Waivers
The investment manager voluntarily waived $0.03 per share of fees, enhancing shareholder returns and contributing to a strong adjusted NII.
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GBDC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GBDC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 19, 2024 | $15.05 | $14.75 | -1.99% |
| Aug 05, 2024 | $13.60 | $13.70 | +0.74% |
| May 06, 2024 | $15.92 | $15.67 | -1.57% |
| Feb 05, 2024 | $13.56 | $13.38 | -1.33% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Golub Capital Bdc (GBDC) report earnings?
Golub Capital Bdc (GBDC) is schdueled to report earning on Feb 05, 2025, TBA Not Confirmed.
What is Golub Capital Bdc (GBDC) earnings time?
Golub Capital Bdc (GBDC) earnings time is at Feb 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GBDC EPS forecast?
GBDC EPS forecast for the fiscal quarter 2025 (Q1) is $0.43.
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