Gladstone Capital Corporation Reports Financial Results for its Third Quarter Ended June 30, 2024
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) ha riportato i risultati finanziari per il terzo trimestre fiscale concluso il 30 giugno 2024. I principali punti salienti includono:
- Il reddito totale da investimenti è aumentato del 7,1% a $25,69 milioni
- Il reddito netto da investimenti è aumentato del 15% a $12,39 milioni, ovvero $0,57 per azione
- L'incremento netto degli attivi da operazioni è stato di $19,06 milioni, ovvero $0,88 per azione
- L'attività del portafoglio ha incluso $46,39 milioni in nuovi investimenti
- Il rendimento medio ponderato sugli investimenti a interesse è stato del 13,9%
- Il valore netto degli attivi per azione comune è aumentato a $20,18
L'azienda ha inoltre dichiarato una distribuzione trimestrale di $0,495 per azione comune per il quarto trimestre fiscale del 2024.
Gladstone Capital (Nasdaq:GLAD) reportó resultados financieros para su tercer trimestre fiscal que finalizó el 30 de junio de 2024. Los aspectos destacados incluyen:
- Los ingresos totales por inversiones aumentaron un 7.1% a $25.69 millones
- Los ingresos netos por inversiones crecieron un 15% a $12.39 millones, o $0.57 por acción
- El aumento neto de activos de las operaciones fue de $19.06 millones, o $0.88 por acción
- La actividad de cartera incluyó $46.39 millones en nuevas inversiones
- El rendimiento promedio ponderado en inversiones que generan intereses fue del 13.9%
- El valor neto de los activos por acción común aumentó a $20.18
La compañía también declaró una distribución trimestral de $0.495 por acción común para el cuarto trimestre fiscal de 2024.
글래드스톤 캐피털 (Nasdaq:GLAD)은 2024년 6월 30일로 종료된 세 번째 회계 분기 재무 결과를 보고했습니다. 주요 하이라이트는 다음과 같습니다:
- 총 투자 수익이 7.1% 증가하여 2569만 달러에 도달했습니다
- 순 투자 수익이 15% 증가하여 1239만 달러, 주당 0.57 달러에 달했습니다
- 운영으로부터의 순 자산 증가가 1906만 달러, 즉 주당 0.88 달러를 기록했습니다
- 포트폴리오 활동에는 4639만 달러의 신규 투자가 포함되었습니다
- 이자 수익 발생 투자의 가중 평균 수익률은 13.9%였습니다
- 일반 주식당 순 자산 가치는 20.18 달러로 증가했습니다
회사는 또한 2024년 4분기 일반 주식에 대해 주당 0.495 달러의 분기 배당금을 선언했습니다.
Gladstone Capital (Nasdaq:GLAD) a publié ses résultats financiers pour son troisième trimestre fiscal se terminant le 30 juin 2024. Les points saillants comprennent :
- Le revenu total d'investissement a augmenté de 7,1 % pour atteindre 25,69 millions de dollars
- Le revenu net d'investissement a augmenté de 15 % pour atteindre 12,39 millions de dollars, soit 0,57 $ par action
- L'augmentation nette des actifs provenant des opérations était de 19,06 millions de dollars, soit 0,88 $ par action
- L'activité du portefeuille a inclus 46,39 millions de dollars en nouveaux investissements
- Le rendement moyen pondéré des investissements porteurs d'intérêts était de 13,9 %
- La valeur nette des actifs par action ordinaire a augmenté à 20,18 $
La société a également déclaré une distribution trimestrielle de 0,495 $ par action ordinaire pour le quatrième trimestre fiscal de 2024.
Gladstone Capital (Nasdaq:GLAD) veröffentlichte die Finanzergebnisse für das dritte Quartal des Geschäftsjahres, das am 30. Juni 2024 endete. Die wichtigsten Highlights sind:
- Die Gesamterträge aus Investitionen stiegen um 7,1% auf 25,69 Millionen Dollar
- Der Nettoumsatz aus Investitionen erhöhte sich um 15% auf 12,39 Millionen Dollar, oder 0,57 Dollar pro Aktie
- Der netto Anstieg der Vermögenswerte aus dem Betrieb betrug 19,06 Millionen Dollar, oder 0,88 Dollar pro Aktie
- Die Portfoliotätigkeit beinhaltete 46,39 Millionen Dollar in neuen Investitionen
- Der gewichtete durchschnittliche Ertrag auf zinstragenden Anlagen lag bei 13,9%
- Der Nettowert der Vermögenswerte pro Stammaktie erhöhte sich auf 20,18 Dollar
Das Unternehmen erklärte zudem eine vierteljährliche Ausschüttung von 0,495 Dollar pro Stammaktie für das vierte Quartal des Geschäftsjahres 2024.
- Total investment income increased by 7.1% to $25.69 million
- Net investment income rose by 15% to $12.39 million
- Net asset value per common share increased by 1.9% to $20.18
- Invested $46.39 million in new and existing portfolio companies
- Increased credit facility committed amount by $25 million to $268.7 million
- Total investments at fair value decreased by 4.3% to $757.75 million
- Net increase in net assets from operations decreased by 19.4% compared to the previous quarter
Gladstone Capital's Q3 2024 results show positive momentum. Total investment income increased by
The portfolio mix remains conservative, with over
The consistent quarterly dividend of
Gladstone Capital's Q3 results reflect resilience in a challenging market. The
The focus on lower middle market businesses and directly originated investments could provide a competitive edge, potentially leading to higher yields and better risk-adjusted returns. However, investors should monitor the company's ability to redeploy capital efficiently, given the high repayment levels (
The increased credit facility and consistent dividend payout signal management's optimism about future deal flow. With a strong pipeline mentioned, Gladstone Capital seems poised to capitalize on opportunities in the lower middle market segment, which could drive growth in upcoming quarters.
MCLEAN, VA / ACCESSWIRE / August 7, 2024 / Gladstone Capital Corporation (Nasdaq:GLAD) (the "Company") today announced earnings for its third fiscal quarter ended June 30, 2024. Please read the Company's Quarterly Report on Form 10-Q filed today with the U.S. Securities and Exchange Commission (the "SEC"), which is available on the SEC's website at www.sec.gov and the Investors section of the Company's website at www.GladstoneCapital.com.
Summary Information (dollars in thousands, except per share data) (unaudited):
For the Quarter Ended: |
| June 30, 2024 |
|
| March 31, 2024 |
|
| Change |
|
| % Change |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Total investment income |
| $ | 25,689 |
|
| $ | 23,997 |
|
| $ | 1,692 |
|
|
| 7.1 | % |
Total expenses, net of credits |
|
| (13,296 | ) |
|
| (13,220 | ) |
|
| (76 | ) |
|
| 0.6 |
|
Net investment income |
|
| 12,393 |
|
|
| 10,777 |
|
|
| 1,616 |
|
|
| 15.0 |
|
Net investment income per common share(A) |
|
| 0.57 |
|
|
| 0.50 |
|
|
| 0.07 |
|
|
| 14.0 |
|
Cash distribution per common share(A) |
|
| 0.50 |
|
|
| 0.50 |
|
|
| 0.00 |
|
|
| 0.0 |
|
Net realized gain (loss) |
|
| 3,315 |
|
|
| 2,168 |
|
|
| 1,147 |
|
|
| 52.9 |
|
Net unrealized appreciation (depreciation) |
|
| 3,436 |
|
|
| 10,695 |
|
|
| (7,259 | ) |
|
| (67.9 | ) |
Net increase (decrease) in net assets resulting from operations |
|
| 19,056 |
|
|
| 23,632 |
|
|
| (4,576 | ) |
|
| (19.4 | ) |
Weighted average yield on interest-bearing investments |
|
| 13.9 | % |
|
| 14.0 | % |
|
| (0.1 | )% |
|
| (0.7 | ) |
Total invested |
| $ | 46,389 |
|
| $ | 44,735 |
|
| $ | 1,654 |
|
|
| 3.7 |
|
Total repayments and net proceeds |
|
| 86,420 |
|
|
| 15,146 |
|
|
| 71,274 |
|
|
| 470.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
As of: |
| June 30, 2024 |
|
| March 31, 2024 |
|
| Change |
|
| % Change |
| ||||
Total investments, at fair value |
| $ |
|
|
| $ | 791,588 |
|
| $ | (33,843 | ) |
|
| (4.3 | )% |
Fair value, as a percent of cost |
|
| 100.6 | % |
|
| 100.1 | % |
|
| 0.5 | % |
|
| 0.5 |
|
Net asset value per common share(A) |
| $ | 20.18 |
|
| $ | 19.80 |
|
| $ | 0.38 |
|
|
| 1.9 |
|
(A) |
| Per common share amounts have been adjusted on a retroactive basis to reflect the 1-for-2 reverse stock split effected on April 4, 2024. |
Third Fiscal Quarter 2024 Highlights:
Portfolio Activity: Invested
$27.3 million in two new portfolio companies and$19.1 million in existing portfolio companies.Portfolio Mix: Secured first lien assets continue to be over
70% of our debt investments, at cost, while the weighted average yield on debt investments was consistent at13.9% .Credit Facility Availability: Increased the committed facility amount by
$25.0 million to$268.7 million and ended the quarter with availability in excess of$180 million .
Third Fiscal Quarter 2024 Results:
Total investment income increased by
Total expenses increased by
Net investment income for the quarter ended June 30, 2024 was
The net increase in net assets resulting from operations was
Subsequent Events: Subsequent to June 30, 2024, the following significant events occurred:
Portfolio Activity:
In July 2024, our investment in Tailwind Smith Cooper Intermediate Corporation paid off at par for net proceeds of
$5.0 million .In July 2024, we invested an additional
$6.5 million in Turn Key Health Clinics, LLC ("Turn Key"), an existing portfolio company, through secured first lien debt. We also extended Turn Key an additional$2.0 million line of credit commitment which was funded in July 2024.
Distributions and Dividends Declared: In July 2024, our Board of Directors declared the following distributions to common and preferred stockholders:
Record Date | Payment Date |
| Distribution per Common Share |
| |
July 22, 2024 | July 31, 2024 |
| $ | 0.165 |
|
August 21, 2024 | August 30, 2024 |
|
| 0.165 |
|
September 20, 2024 | September 30, 2024 |
|
| 0.165 |
|
Total for the Quarter |
| $ | 0.495 |
| |
Comments from Gladstone Capital's President, Bob Marcotte: "Last quarter's spike in refinancing activities lifted our fee income and resulted in a small decline in our portfolio; however, our core strategy of investing in directly originated investments in growth oriented lower middle market businesses remains intact and we expect the current deal pipeline to support the resumption of our portfolio and earnings growth in the near term."
Conference Call for Stockholders: The Company will hold its earnings release conference call on Thursday, August 8, 2024, at 8:30 a.m. Eastern Time. Please call (866) 424-3437 to enter the conference call. An operator will monitor the call and set a queue for any questions. A replay of the conference call will be available through August 15, 2024. To hear the replay, please dial (877) 660-6853 and use playback conference number 13746757. The replay of the conference call will be available beginning approximately one hour after the call concludes. The live audio broadcast of the Company's quarterly conference call will also be available online at www.GladstoneCapital.com. The event will be archived and available for replay on the investors section of the Company's website.
About Gladstone Capital Corporation: Gladstone Capital Corporation is a publicly-traded business development company that invests in debt and equity securities, consisting primarily of secured first and second lien term loans to lower middle market businesses in the United States. Information on the business activities of Gladstone Capital and the other publicly-traded Gladstone funds can be found at www.GladstoneCompanies.com.
To obtain a paper copy of the Company's most recent Form 10-Q, please contact the Company at 1521 Westbranch Drive, Suite 100, McLean, VA 22102, ATTN: Investor Relations. The financial information above is not comprehensive and is without notes, so readers should obtain and carefully review the Company's Form 10-Q for the quarter ended June 30, 2024, including the notes to the consolidated financial statements contained therein.
Investor Relations Inquiries: Please visit www.gladstonecompanies.com or (703) 287-5893.
Forward-looking Statements:
The statements in this press release about future growth and shareholder returns are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on our current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in our filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or otherwise, except as required by law.
SOURCE: Gladstone Capital Corporation
View the original press release on accesswire.com
FAQ
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