Palmer Square Capital BDC Inc Reports Second Quarter 2024 Financial Results

Palmer Square Capital BDC Inc. Reports Second Quarter 2024 Financial Results

Palmer Square Capital BDC Inc. (NYSE: PSBD) announced its financial results for the second quarter ended June 30, 2024.

Key Financial Metrics:

Interpretation: Palmer Square Capital BDC's revenue showed substantial year-over-year growth of 33.21%, reaching $36.5 million for Q2 2024. However, earnings per share (EPS) declined to $0.48 from $0.56, reflecting a 14.29% decrease. The company's net asset value (NAV) per share slightly decreased by 1.8% quarter-over-quarter, from $17.16 to $16.85. The company reported net realized and unrealized losses of $10.4 million, a notable reversal from the $9.7 million gains in the same period last year.

Comments from Company Officers:

"Palmer Square Capital BDC reported strong second quarter results, continuing to demonstrate the power of our differentiated liquid loan strategy that enables us to capitalize on market dislocations across the syndicated and private credit markets," said Christopher D. Long, Chairman and Chief Executive Officer of PSBD. "PSBD remains well-positioned for upside in this dynamic operating environment. Given our team's experience across cycles, and the potential for some near-term volatility with macro and political uncertainty, our team is excited to continue demonstrating the benefits of our liquid strategy to generate long-term shareholder value."

Dividends and Share Repurchase Programs:

The board declared a third quarter regular base dividend of $0.42 per share, payable on October 14, 2024, to shareholders of record as of September 27, 2024. The company expects to announce a supplemental dividend in September.

Forward Guidance:

The earnings release did not provide specific forward guidance.

Stock Price Movement:

Following the earnings release, the company's stock price fell by approximately 0.79%.

Palmer Square Capital BDC continues to solidify its position in the market with a strong revenue performance despite facing some EPS and NAV challenges. With a proactive approach in portfolio management and expected supplemental dividends, the company aims to provide consistent returns to its shareholders.

The report has been organized into a clearer format, and unnecessary sections have been omitted.