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Mar 31, 2023
Gladstone Capital Q2 2023 Earnings Report
Reported an increase in net investment income and strategic portfolio investments.
Key Takeaways
Gladstone Capital Corporation reported a net investment income of $9.6 million, or $0.26 per share, for the quarter ended March 31, 2023, a 10.4% increase compared to the prior quarter. The company invested $48.0 million in two new portfolio companies and $16.1 million in existing portfolio companies. The weighted average yield on debt investments rose to 13.1%.
Invested $48.0 million in two new portfolio companies and $16.1 million in existing portfolio companies.
Net investment income increased 10.4% over last quarter to $9.6 million, or $0.26 per share.
The weighted average yield on debt investments rose 80bp to 13.1%.
Issued 1,370,967 shares of common stock through the at-the-market program, generating net proceeds of $13.8 million.
Forward Guidance
Gladstone Capital's future performance is expected to be driven by favorable lending market conditions, focus on portfolio performance, and disciplined asset growth while maintaining conservative leverage metrics.
Positive Outlook
- Increased interest rates have lifted net interest income.
- Favorable lending market conditions.
- Continued focus on portfolio performance.
- Disciplined asset growth.
- Maintaining conservative leverage metrics.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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