GBDC Earnings Prediction
The chart below shows how GBDC performed 10 days before and after its earnings report, based on data from the past quarters. Typically, GBDC sees a -0.54% change in stock price 10 days leading up to the earnings, and a +0.53% change 10 days following the report. On the earnings day itself, the stock moves by +0.00%. This data can give you a slight idea of what to expect for the next quarter's release.
GBDC Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
235.42M
49.92%
17.79%
Gross Margin
--
--
--
Operating Margin
47.08%
-3.11%
-1.05%
Net Margin
47.28%
-2.01%
-0.73%
EPS
0.42
-6.67%
16.67%
No Data Available
GBDC Earnings Analysis
Golub Capital Bdc Inc Corporation (GBDC.O) Earnings Conference Call
Positive
Adjusted Net Income Metrics: Adjusted NII per share was $0.39, corresponding to a return on equity of 10.1%, and adjusted net income per share was $0.42, reflecting an adjusted return on equity of 11%.
Portfolio Growth and Originations: Gross originations reached $1.2 billion, leading to a net portfolio growth of approximately 5.5% quarter-over-quarter, with net funds increasing by $450 million sequentially.
Investment Quality Improvement: Non-accrual investments decreased to just 0.5% of total investments at fair value, marking the lowest level since September 2019, and investments rated 4 and 5 increased to nearly 90% of the portfolio.
Quarterly Distribution Overview: Total distributions paid in the quarter were $0.48 per share, including a quarterly base distribution of $0.39 per share and a $0.04 per share variable supplemental distribution, providing a distribution coverage of 103%.
Credit Rating Upgrade: Moody's upgraded GBDC's corporate credit rating to Baa2 with a stable outlook, enhancing the company's ability to issue low-cost unsecured debt.
Negative
Decline in Adjusted NII: Adjusted NII per share decreased from $0.47 in Q4 2024 to $0.40 in Q1 2025, indicating a decline in profitability despite a stable portfolio.
NAV Decline Impact: NAV per share fell by $0.06 to $15.13, primarily due to total distributions of $0.48 per share exceeding earnings, reflecting a negative impact on shareholder value.
Investment Income Yield Decline: The weighted average investment income yield dropped 80 basis points to 11.2%, driven by lower SOFR rates and reduced spreads on new investments, signaling a decline in revenue generation capacity.
Limited Capital Appreciation: Net realized and unrealized gains contributed only $0.03 per share, highlighting limited capital appreciation and potential concerns regarding future growth prospects.
Debt to Equity Concerns: The increase in net debt to equity ratio to 1.19 turns raises concerns about leverage and financial risk, particularly in a potentially tightening credit environment.
GBDC FAQs
How does GBDC typically perform around its earnings report dates?
Is Golub Capital Bdc Inc (GBDC) Q1 2025 Earnings Call Summary positive or negative?
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GBDC Earning Call Sentiment
Golub Capital BDC, Inc. (NASDAQ:GBDC) Q1 2025 Earnings Call Transcript
GBDC.O
-0.44%Positive
The earnings call shows a mix of positive and negative signals. While there is a decline in NAV per share and adjusted NII, gross originations and credit quality have improved. The Q&A highlights some concerns about economic changes and competition, but management's responses were vague. The market cap suggests moderate volatility, leading to a neutral prediction.
