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Jun 30, 2024
Gladstone Capital Q3 2024 Earnings Report
Reported an increase in total investment income and net investment income, driven by growth in other income and effective expense management.
Key Takeaways
Gladstone Capital Corporation reported an increase in total investment income by 7.1% and net investment income, driven by a $2.2 million increase in other income. The company invested $27.3 million in two new portfolio companies and $19.1 million in existing portfolio companies. Net investment income was $12.4 million, or $0.57 per share.
Total investment income increased by 7.1% compared to the prior quarter, driven by growth in other income.
Net investment income for the quarter was $12.4 million, or $0.57 per share.
Invested $27.3 million in two new portfolio companies and $19.1 million in existing portfolio companies.
Secured first lien assets continue to be over 70% of debt investments, with a weighted average yield of 13.9%.
Forward Guidance
Gladstone Capital expects the current deal pipeline to support the resumption of portfolio and earnings growth in the near term.
Positive Outlook
- Core strategy of investing in directly originated investments in growth oriented lower middle market businesses remains intact
- Expect the current deal pipeline to support the resumption of portfolio and earnings growth in the near term
Historical Earnings Impact
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Avg. Return Before/After Earnings
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