Welcome to our dedicated page for Gladstone Capital news (Ticker: GLAD), a resource for investors and traders seeking the latest updates and insights on Gladstone Capital stock.
Gladstone Capital Corporation (Nasdaq: GLAD) is a publicly traded business development company that focuses on investing in debt and equity securities. Primarily, the company specializes in secured first and second lien term loans to lower middle market businesses across the United States. Managed externally, Gladstone Capital aims to achieve consistent income and capital appreciation for its stockholders.
Established as part of the family of Gladstone Companies, Gladstone Capital operates alongside other entities like Gladstone Investment Corporation (Nasdaq: GAIN), Gladstone Commercial Corporation (Nasdaq: GOOD), and Gladstone Land Corporation (Nasdaq: LAND). Each of these companies focuses on different investment areas such as commercial real estate, farmland, and small to medium-sized enterprises.
Gladstone Capital typically targets investments ranging from $5 to $30 million in companies with over $3 million in EBITDA. The company’s investment portfolio spans various sectors, including light and specialty manufacturing, industrial products and services, business and government services, aerospace and defense, media and communications, consumer products and services, and healthcare services.
Recent Achievements and Financial Highlights:
- For the fiscal year ended September 30, 2023, Gladstone Capital reported a total investment income of $86.4 million, a significant increase from the previous year.
- The company has consistently grown its net investment income, achieving $41.0 million in 2023, up by 27.1% from the prior year.
- Recent earnings reports indicate stable financial health, with increases in both net asset value and shareholder distributions.
Current Projects and Partnerships:
- Gladstone Capital continues to bolster its portfolio, recently acting as the Administrative Agent and Lead Arranger on a $55 million senior secured credit facility for Café Zupas, a fast-casual restaurant chain.
- The company is focused on providing flexible financing solutions to businesses, ensuring robust support for growth and expansion initiatives.
The company remains committed to its investment strategy, maintaining a diversified portfolio aimed at generating stable earnings and cash flow. With a strong emphasis on maintaining transparent communication with stakeholders, Gladstone Capital regularly updates its financial performance and strategic initiatives.
Gladstone Capital (NASDAQ:GLAD) announced that Terry Lee Brubaker will retire as Chief Operating Officer effective December 2, 2024. Brubaker will also step down from his roles at Gladstone Management and Gladstone Administration, Michael LiCalsi, the Company's General Counsel and Secretary, will assume additional operational responsibilities while a national search for a Chief Investment Officer is conducted to handle Brubaker's investment committee duties.
Gladstone Capital (GLAD) reported financial results for Q4 and fiscal year 2024. Q4 saw total investment income decrease 7.7% to $23.7M, while net investment income was $11.0M ($0.50 per share). For FY2024, total investment income increased 11.8% to $96.6M, with net investment income rising 12.3% to $46.1M ($2.11 per share). The company's portfolio showed strong performance with secured first lien assets over 70% of debt investments and a weighted average yield of 14.0%. Notable post-quarter events include the sale of Antenna Research Associates generating a $59.3M realized gain and a newly declared supplemental distribution of $0.40 per share.
Gladstone Capital (NASDAQ:GLAD) has declared a $0.40 supplemental cash distribution per share to common stockholders, payable on December 18, 2024, with a record date of December 4. This special distribution follows the company's successful sale of its equity interest and debt investment prepayment in Antenna Research Associates, Inc., which resulted in a significant capital gain. The company maintains a dividend reinvestment plan (DRIP) for common stockholders.
Gladstone Capital (GLAD) has announced its Fourth Fiscal Quarter 2024 Earnings Call & Webcast, scheduled for Thursday, November 14, 2024, at 8:30 a.m. Eastern Time. The event will be accessible via webcast and phone, with a conference call replay available until November 21, 2024. Gladstone Capital operates as a business development company, focusing on secured first and second lien term loans to lower middle market businesses in the United States.
Gladstone Capital (Nasdaq:GLAD) announced the sale of its equity interest and debt investment prepayment in Antenna Research Associates (ARA), resulting in a significant gain on its equity investment. Gladstone Capital, along with ARA's management and institutional co-investors, had acquired ARA in November 2018. ARA, founded in 1963, specializes in designing and manufacturing antennas and RF systems for military and civilian applications across multiple industries including Communication Networks, SATCOM, RADAR, and Electronic Warfare. The company experienced rapid growth during Gladstone's investment period, expanding both organically and through multiple acquisitions.
Gladstone Capital (Nasdaq:GLAD) has announced monthly cash distributions for October, November, and December 2024, as well as its plan to report earnings for Q4 2024. The company declared:
- Common Stock: $0.165 per share for each month, totaling $0.495 for the quarter
- Series A Preferred Stock: $0.130208 per share for each month, totaling $0.390624 for the quarter
The company will report Q4 2024 earnings on November 13, 2024, after market close, with a conference call scheduled for November 14, 2024, at 8:30 a.m. ET. Investors can access the call at (866) 424-3437, and a replay will be available until November 21, 2024. The live audio broadcast and replay will also be available on the company's website.
Gladstone Capital (Nasdaq: GLAD) has announced the election of Katharine Cornell Gorka to its Board of Directors, effective August 22, 2024. Ms. Gorka, 64, will serve in the 2027 class of Directors. She is the President of Threat Knowledge Group and chair of the Fairfax County Republican Party. Her background includes roles as Senior Policy Advisor at the U.S. Department of Homeland Security, Press Secretary for U.S. Customs and Border Protection, and Director for Civil Society at The Heritage Foundation.
The company believes Ms. Gorka's management expertise, strategic analysis skills, and diverse background will add value to the Board by expanding its knowledge base and perspective. Ms. Gorka holds a degree from the University of North Carolina at Chapel Hill and an M.Sc. in Economics from the London School of Economics.
Gladstone Capital (NASDAQ:GLAD) has announced the completion of a junior debt facility to support Bluejay Capital Partners and Trive Capital's acquisition of RPM Freight Systems, RPM is a technology-driven, asset-light provider of transportation management solutions for finished vehicle logistics and specialized freight markets in North America and Europe.
RPM, headquartered in Royal Oak, Michigan, serves over 30 countries, offering data-driven solutions for OEMs, online dealers, and re-marketing firms. Eric Maloy, Managing Director at Gladstone Capital, expressed enthusiasm for partnering with Bluejay and Trive Capital, highlighting RPM's market-leading technological capabilities and value-added services. Both Bluejay Capital and Trive Capital representatives praised Gladstone Capital's flexibility and support in the transaction.
Gladstone Capital (Nasdaq:GLAD) reported financial results for its third fiscal quarter ended June 30, 2024. Key highlights include:
- Total investment income increased by 7.1% to $25.69 million
- Net investment income rose by 15% to $12.39 million, or $0.57 per share
- Net increase in net assets from operations was $19.06 million, or $0.88 per share
- Portfolio activity included $46.39 million in new investments
- Weighted average yield on interest-bearing investments was 13.9%
- Net asset value per common share increased to $20.18
The company also declared a quarterly distribution of $0.495 per common share for the fourth fiscal quarter of 2024.
Gladstone Capital (Nasdaq: GLAD) has announced its upcoming earnings call and webcast for the third fiscal quarter ended June 30, 2024. The event is scheduled for Thursday, August 8, 2024, at 8:30 a.m. Eastern Time. Investors can participate via webcast or by calling (866) 424-3437. A conference call replay will be available until August 15, 2024, by dialing (877) 660-6853 with playback conference number 13746757.
Gladstone Capital is a publicly traded business development company that primarily invests in secured first and second lien term loans to lower middle market businesses in the United States. The company's earnings call will provide insights into its financial performance and investment activities for the quarter.
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