Carlyle Secured Lending, Inc. Announces Financial Results For Third Quarter Ended 2024, Declares Fourth Quarter 2024 Dividends of $0.45 Per Common Share
Carlyle Secured Lending (NASDAQ: CGBD) reported its Q3 2024 financial results, delivering net investment income of $0.47 per share and adjusted net investment income of $0.49 per share. The company's net asset value per share decreased 0.6% to $16.85 from $16.95 in the previous quarter. Total investment fair value stood at $1.7 billion. The Board declared a base quarterly dividend of $0.40 plus a supplemental dividend of $0.05 per share, payable on January 17, 2025. The company completed a refinancing of its CLO 2015-1R notes during the quarter.
Carlyle Secured Lending (NASDAQ: CGBD) ha riportato i risultati finanziari del terzo trimestre 2024, registrando un reddito netto da investimenti di $0.47 per azione e un reddito netto da investimenti rettificato di $0.49 per azione. Il valore netto delle attività per azione della società è diminuito dello 0,6%, scendendo a $16.85 rispetto a $16.95 nel trimestre precedente. Il valore totale degli investimenti si è attestato a $1.7 miliardi. Il Consiglio ha dichiarato un dividendo base trimestrale di $0.40 oltre a un dividendo supplementare di $0.05 per azione, pagabile il 17 gennaio 2025. Durante il trimestre, la società ha completato un rifinanziamento delle sue note CLO 2015-1R.
Carlyle Secured Lending (NASDAQ: CGBD) informó sus resultados financieros del tercer trimestre de 2024, registrando un ingreso neto por inversión de $0.47 por acción y un ingreso neto por inversión ajustado de $0.49 por acción. El valor neto de los activos por acción de la empresa disminuyó un 0.6%, bajando a $16.85 de $16.95 en el trimestre anterior. El valor total de la inversión fue de $1.7 mil millones. La Junta declaró un dividendo base trimestral de $0.40 más un dividendo adicional de $0.05 por acción, que se pagará el 17 de enero de 2025. La empresa completó un refinanciamiento de sus notas CLO 2015-1R durante el trimestre.
Carlyle Secured Lending (NASDAQ: CGBD)는 2024년 3분기 재무 결과를 보고하며 주당 $0.47의 순투자 소득과 주당 $0.49의 조정된 순투자 소득을 기록했습니다. 회사의 주당 순자산가치는 이전 분기의 $16.95에서 $16.85로 0.6% 감소했습니다. 총 투자 공정 가치는 $1.7 billion였습니다. 이사회는 분기 기본 배당금으로 $0.40와 추가 배당금으로 $0.05를 선언했으며, 이는 2025년 1월 17일에 지급됩니다. 이 회사는 분기 중 CLO 2015-1R 노트의 재융자를 완료했습니다.
Carlyle Secured Lending (NASDAQ: CGBD) a annoncé ses résultats financiers du troisième trimestre 2024, affichant un revenu net d'investissement de $0.47 par action et un revenu net d'investissement ajusté de $0.49 par action. La valeur nette des actifs par action de la société a diminué de 0,6 % pour atteindre $16.85, contre $16.95 le trimestre précédent. La valeur totale des investissements s'élevait à $1.7 milliard. Le Conseil a déclaré un dividende trimestriel de base de $0.40 ainsi qu'un dividende supplémentaire de $0.05 par action, payable le 17 janvier 2025. L'entreprise a complété le refinancement de ses notes CLO 2015-1R au cours du trimestre.
Carlyle Secured Lending (NASDAQ: CGBD) hat seine Finanzergebnisse für das dritte Quartal 2024 veröffentlicht und einen netten Investitionsertrag von $0.47 pro Aktie sowie einen angepassten netten Investitionsertrag von $0.49 pro Aktie erzielt. Der Nettovermögenswert pro Aktie des Unternehmens sank um 0,6% auf $16.85 von $16.95 im vorherigen Quartal. Der Gesamtwert der Investitionen betrug $1.7 Milliarden. Der Vorstand erklärte eine basisquartalsweise Dividende von $0.40 sowie eine zusätzliche Dividende von $0.05 pro Aktie, die am 17. Januar 2025 zahlbar ist. Das Unternehmen hat während des Quartals eine Refinanzierung seiner CLO 2015-1R-Anleihen abgeschlossen.
- Net investment income of $0.47 per share, with adjusted net investment income of $0.49 per share
- Declared total dividend of $0.45 per share ($0.40 base + $0.05 supplemental)
- Total investment portfolio fair value of $1.7 billion
- Strong quarter of originations reported
- Net asset value per share decreased 0.6% from $16.95 to $16.85
Insights
The Q3 2024 results show mixed performance for CGBD. The company reported
The total dividend of
The acceleration of debt issuance costs related to the CLO reset impacts short-term earnings but should lead to improved financing terms going forward. The company's continued access to Carlyle's broader credit platform provides competitive advantages in deal sourcing and risk management.
NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Carlyle Secured Lending, Inc. (together with its consolidated subsidiaries, “we,” “us,” “our,” “CGBD” or the “Company”) (NASDAQ: CGBD) today announced its financial results for its third quarter ended September 30, 2024. Justin Plouffe, CGBD’s Chief Executive Officer said, “We delivered consistent performance in the third quarter of 2024, capitalizing on increased new deal activity and the strength of our existing portfolio companies. With another strong quarter of originations, we benefited from access to the broader Carlyle Global Credit Platform, as we supplemented our core cash flow strategy with differentiated deal flow and specialty lending capabilities. We remain disciplined in our investment and portfolio management approach and are committed to executing on our strategy of providing investors with resilient, stable cash flows and principal protection.”
Net investment income for the third quarter of 2024 was
Dividends
On November 4, 2024, the Board of Directors declared a base quarterly common dividend of
On September 26, 2024, the Company declared a cash dividend on the Preferred Stock for the period from July 1, 2024 to September 30, 2024 in the amount of
Conference Call
The Company will host a conference call at 11:00 a.m. Eastern Time on Wednesday, November 6, 2024 to discuss these quarterly financial results. The conference call will be available via public webcast via a link on Carlyle Secured Lending’s website and will also be available on our website soon after the call’s completion.
Non-GAAP Financial Measures
On a supplemental basis, the Company is disclosing Adjusted Net Income Per Share, which is calculated and presented on a basis other than in accordance with GAAP (“non-GAAP”). The Company’s management uses this non-GAAP financial measure internally to analyze and evaluate financial results and performance and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company and to review the Company’s performance without giving effect to one-time or non-recurring investment income and expense events, including the effect on incentive fees. The presentation of this non-GAAP measure is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.
The Company’s management uses the non-GAAP financial measure described above internally to analyze and evaluate financial results and performance and to compare its financial results with those of other business development companies that have not had similar one-time or non-recurring events. The Company’s management believes “Adjusted Net Investment Income Per Share” is useful to investors as an additional tool to evaluate ongoing results and trends for the Company without giving effect to one-time or non-recurring events and are used by management to evaluate the economic earnings of the Company.
The following details the one-time or non-recurring events considered as part of the non-GAAP measure. The non-GAAP measure is reflected net of any incentive fee impacts, as applicable.
- On July 2, 2024, Carlyle Direct Lending CLO 2015-1R LLC, a wholly-owned and consolidated subsidiary of the Company, completed the refinancing of its outstanding notes by redeeming the notes in full and issuing new notes and loans (the “2015-1R CLO Reset”). Refer to Note 8, Borrowings, in the Company’s Form 10-Q for the Quarterly Period ended September 30, 2024 for more information on the refinancing. In connection with the refinancing, the debt issuance costs were accelerated in accordance with GAAP.
Carlyle Secured Lending, Inc.
CGBD is an externally managed specialty finance company focused on lending to middle-market companies. CGBD is managed by Carlyle Global Credit Investment Management L.L.C., an SEC-registered investment adviser and a wholly owned subsidiary of The Carlyle Group Inc. Since it commenced investment operations in May 2013 through September 30, 2024, CGBD has invested approximately
Web: carlylesecuredlending.com
About Carlyle
Carlyle (“Carlyle,” or the “Adviser”) (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With
Contacts:
| Investors: | Media: |
| Nishil Mehta | Kristen Greco Ashton |
| +1-212-813-4928 publicinvestor@carlylesecuredlending.com | +1-212-813-4763 kristen.ashton@carlyle.com |
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