Golub Capital BDC Q1 adjusted net income misses estimates

Overview

• Business development company's fiscal Q1 adjusted net income missed analyst expectations

• Earnings per share for fiscal Q1 decreased compared to the previous quarter

• Company declared quarterly distribution of $0.33 per share, down from $0.39

Result Drivers

• PORTFOLIO PERFORMANCE - Unrealized depreciation and realized loss due to underperformance of certain portfolio companies and restructuring of a portfolio company investment

• DISTRIBUTION REDUCTION - Quarterly distribution reduced from $0.39 to $0.33 per share reflecting outlook on rates, asset spreads, and financing costs

• SHARE REPURCHASE - Company repurchased shares in response to market volatility, impacting financial metrics

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the investment management & fund operators peer group is "hold."

• Wall Street's median 12-month price target for Golub Capital BDC Inc is $15.00, about 17.3% above its February 3 closing price of $12.79

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nBwbyC7Cna

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