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Sep 30, 2022
Gladstone Capital Q4 2022 Earnings Report
Reported financial results for the fourth quarter and fiscal year ended September 30, 2022.
Key Takeaways
Gladstone Capital Corporation reported an increase in net investment income to $7.5 million, or $0.22 per common share, for the quarter ended September 30, 2022. The increase was driven by higher core interest income. The company invested $59.6 million in four new portfolio companies and $26.4 million in existing portfolio companies, lifting net originations to $64.2 million after repayments and net proceeds.
Total investment income increased to $15.9 million.
Net investment income increased to $7.5 million, or $0.22 per common share.
Invested $59.6 million in four new portfolio companies and $26.4 million in existing portfolio companies.
Increased the credit facility commitment amount by $50.0 million, from $175.0 million to $225.0 million.
Forward Guidance
Gladstone Capital expects the current interest rates as well as more favorable spreads and conservative leverage metrics of the current lending market to sustain this earnings momentum and support potential increases to the common distribution rate in the coming quarters.
Positive Outlook
- Strong net originations.
- Rising interest rates.
- Favorable capital structure.
- Maintaining strategy of making modestly leveraged senior secured debt investments to growth oriented lower middle market businesses.
- More favorable spreads and conservative leverage metrics of the current lending market.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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