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Sep 30, 2023
Gladstone Capital Q4 2023 Earnings Report
Announced earnings for the fourth quarter and fiscal year ended September 30, 2023.
Key Takeaways
Gladstone Capital Corporation reported a net investment income of $11.0 million, or $0.28 per share, for the quarter ended September 30, 2023. Total investment income increased by $0.9 million, or 4.1%, compared to the prior quarter. The net increase in net assets resulting from operations was $13.1 million, or $0.33 per share.
Total investment income increased by $0.9 million, or 4.1%, for the quarter ended September 30, 2023.
Net investment income for the quarter ended September 30, 2023 was $11.0 million, or $0.28 per share.
The net increase in net assets resulting from operations was $13.1 million, or $0.33 per share, for the quarter ended September 30, 2023.
Invested $27.4 million in existing portfolio companies.
Forward Guidance
Gladstone Capital anticipates growth in earning assets, net interest income, and shareholder distributions, capitalizing on the growing private credit opportunity across the lower middle market.
Positive Outlook
- Underlying portfolio continued to perform well generating an 8% increase in net interest income
- ROE of 13.7% for the period.
- Achieved 9% asset growth
- 27% NII growth which supported the 22% increase in the common distribution rate
- NAV growth of 3.4%.
Challenges Ahead
- Net originations moderated last quarter negatively impacting fee income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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