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Goldman Sachs BDC Q1 2025 Earnings Report
Goldman Sachs BDC reported its Q1 2025 earnings, showing a decrease in total investment income and net income compared to the previous year, primarily due to investments being placed on non-accrual status and restructuring activities.
Key Takeaways
Goldman Sachs BDC, Inc. reported a total investment income of $96.94 million for Q1 2025, a decrease from $111.54 million in Q1 2024. Net income after taxes also saw a decline to $49.61 million from $60.86 million in the prior year. The decrease was mainly attributed to investments being placed on non-accrual status and the restructuring of certain debt investments.
Total investment income decreased to $96.94 million in Q1 2025 from $111.54 million in Q1 2024.
Net investment income after taxes declined to $49.61 million in Q1 2025 from $60.86 million in Q1 2024.
Net realized losses on investments were $44.47 million in Q1 2025, compared to losses of $16.99 million in Q1 2024.
The net change in unrealized appreciation on investments was $27.49 million in Q1 2025, a significant improvement from depreciation of $3.07 million in Q1 2024.
Goldman Sachs BDC
Goldman Sachs BDC
Goldman Sachs BDC Revenue by Segment
Goldman Sachs BDC Revenue by Geographic Location
Revenue by Segment
Professional Services Revenue
CapyFin.comChemicals Revenue
CapyFin.comConstruction & Engineering Revenue
CapyFin.comIT Services Revenue
CapyFin.comAerospace & Defense Revenue
CapyFin.comBroadline Retail Revenue
CapyFin.comCommercial Services & Supplies Revenue
CapyFin.comFinancial Services Revenue
CapyFin.comSoftware Revenue
CapyFin.comContainers & Packaging Revenue
CapyFin.comDiversified Consumer Services Revenue
CapyFin.comElectrical Equipment Revenue
CapyFin.comHealth Care Equipment & Supplies Revenue
CapyFin.comHealth Care Providers & Services Revenue
CapyFin.comHealth Care Technology Revenue
CapyFin.comHotels, Restaurants & Leisure Revenue
CapyFin.comIndependent Power and Renewable Electricity Producers Revenue
CapyFin.comInsurance Revenue
CapyFin.comInteractive Media & Services Revenue
CapyFin.comLeisure Products Revenue
CapyFin.comMachinery Revenue
CapyFin.comMedia Revenue
CapyFin.comPharmaceuticals Revenue
CapyFin.comReal Estate Mgmt. & Development Revenue
CapyFin.comSpecialty Retail Revenue
CapyFin.comTrading Companies & Distributors Revenue
CapyFin.comTextiles, Apparel & Luxury Goods Revenue
CapyFin.comWireless Telecommunication Services Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comCanada Revenue
CapyFin.comUnited Kingdom Revenue
CapyFin.comGermany Revenue
CapyFin.comSingapore Revenue
CapyFin.com Forward Guidance
The company expects to generate cash primarily from future offerings of securities, borrowings, and cash flows from operations. It anticipates maintaining adequate financial resources to satisfy unfunded commitments and plans to evaluate additional investment opportunities.
Positive Outlook
- Ability to issue and sell shares of common stock through public or ATM offerings to raise capital.
- Flexibility to enter into credit facilities or issue other senior securities to take advantage of investment opportunities.
- Regular evaluation of unfunded commitments using proprietary risk management framework to ensure liquidity.
- Potential for additional investment opportunities if market conditions for debt financing are attractive.
- Continued focus on generating cash from operations to fund investments and distributions.
Challenges Ahead
- Dependence on market conditions for debt financing and equity offerings, which can be volatile.
- Potential for increased expenses if additional capital is raised or new credit facilities are utilized.
- Uncertainty regarding the timing and amount of future cash distributions, as they are subject to available funds and Board approval.
- Compliance with asset coverage ratio requirements may limit borrowing capacity.
- Risk of adverse changes in foreign exchange rates affecting investments denominated in non-U.S. dollars.