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Jun 30, 2021
Gladstone Capital Q3 2021 Earnings Report
Gladstone Capital's financial performance increased due to rise in investment income and realized gains.
Key Takeaways
Gladstone Capital Corporation reported an increase in net investment income and net asset value per share for the third fiscal quarter ended June 30, 2021. The company's portfolio companies performed well, generating equity and loan market value appreciation. The company invested $38.0 million in new portfolio companies and $15.2 million in existing ones, and received $54.4 million in repayments and net proceeds.
Invested $38.0 million in three new proprietary portfolio companies and $15.2 million in existing portfolio companies.
Received $54.4 million in repayments and net proceeds, primarily from the sale of two proprietary portfolio companies and payoff of one syndicated portfolio company.
Net asset value increased 7.9% from March 31, 2021, to $292.4 million, and NAV per share rose 5.1% to $8.52 per share, as of June 30, 2021.
Maintained a debt-to-equity ratio of 76.0%.
Forward Guidance
Gladstone Capital's President, Bob Marcotte, stated that the lower middle market portfolio has continued to perform well, and last quarter’s realized gains and appreciation helped lift GLAD’s ROE and boost the NAV per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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