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Dec 31, 2021
Gladstone Capital Q1 2022 Earnings Report
Reported financial results for the first quarter ended December 31, 2021.
Key Takeaways
Gladstone Capital Corporation reported a strong first quarter with net investment income surging 34% to $9.2 million, driven by higher fee income and lower net management fees. The company invested $110.8 million and received $96.8 million in repayments. The company's ROE for the quarter was 15.1%.
Invested $106.9 million in six new and $3.9 million in existing portfolio companies.
Received $96.8 million in repayments and net proceeds, including a $13.4 million net realized gain from Lignetics, Inc.
Net investment income surged 34% to $9.2 million, or $0.27 per share.
Net asset value increased 1.7% to $9.44 per share.
Forward Guidance
Gladstone Capital expects its core lower middle market portfolio strategy and conservative balance sheet leverage to position them well to continue to grow earnings over the balance of 2022.
Positive Outlook
- Capitalizing on heightened deal activity.
- Increasing first lien loans.
- Generating significant realized gains.
- Maintaining weighted average yield.
- Conservative balance sheet leverage.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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