Q2 2020 Golub Capital BDC Inc Earnings Call

Q1 2020 Golub Capital BDC Inc Earnings Call

Golub Capital BDC, Inc. (NASDAQ: GBDC) ("we," "us," "our," "GBDC" or the "Company") announced the expiration of its transferable rights offering, which entitled holders of rights to purchase one share of common stock for every right held at a subscription price of $9.17 per share. The rights offering expired on May 6, 2020 at 5:00 p.m., New York City time. Wells Fargo Securities, LLC acted as lead dealer manager for the offering. J.P. Morgan and Morgan Stanley & Co. LLC acted as co-dealer managers for the offering.

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Shares of Golub Capital BDC (NASDAQ:GBDC) were unchanged at $10.80 after the company reported Q2 results.Quarterly Results Earnings per share were up 3.13% year over year to $0.33, which beat the estimate of $0.32.Revenue of $75,124,000 up by 79.70% from the same period last year, which missed the estimate of $82,780,000.Looking Ahead Earnings guidance hasn't been issued by the company for now.Revenue guidance hasn't been issued by the company for now.Conference Call Details Date: May 11, 2020View more earnings on GBDCTime: 08:03 PM ETWebcast URL: https://golubcapitalbdc.com/investor-resources/eventspresentationsTechnicals 52-week high: $19.1452-week low: $9.08Price action over last quarter: down 40.89%Company Profile Golub Capital BDC Inc is an externally managed, closed-end, non-diversified management investment company. The company's investment objective is to generate current income and capital appreciation by investing in senior secured and one stop loans in United States middle-market companies. It also invests in second lien and subordinated loans, warrants and minority equity securities in United States middle-market companies. The company's competitors in providing financing to middle-market companies include public and private funds, other business development companies, commercial and investment banks, and commercial financing companies.See more from Benzinga * Univar: Q1 Earnings Insights * Scorpio Bulkers: Q1 Earnings Insights * Cleveland-Cliffs: Q1 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

High-yielding business development corporations are exposed to some of the small to midsize U.S. businesses expected to be hardest hit by the coronavirus crisis, leading some to pare dividends or offer payouts in shares. Some BDCs, however, are positioned to handle the distress.

Golub Capital BDC, Inc. (NASDAQ: GBDC) ("we," "us," "our," "GBDC" or the "Company") announced today that its Board of Directors has approved the terms of a transferable rights offering to purchase shares of its common stock. Wells Fargo Securities, LLC will act as the Dealer Manager for the offering.

Prospects Look Gloomy for SBIC & Commercial Finance Industry

Golub Capital BDC (GBDC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Golub Capital BDC, Inc. (NASDAQ: GBDC) ("we," "us," "our," "GBDC" or the "Company"), announced today that on April 9, 2020 GBDC's Board of Directors ("Board") declared a quarterly distribution of $0.29 per share, payable on June 29, 2020 to holders of record as of June 9, 2020. In addition, the Company announced its preliminary estimates of certain financial results for its second fiscal quarter ended March 31, 2020.1

Golub Capital BDC, Inc. (NASDAQ: GBDC) (the "Company") announced the final results of its transferable rights offering, which entitled holders of rights to purchase one share of common stock for every right held at a subscription price of $9.17 per share. The rights offering expired on May 6, 2020 at 5:00 p.m., New York City time and on May 13, 2020 all closing conditions were met, including final review and approval of the transferable rights offering by the Pricing Committee established by the Company's Board of Directors. Wells Fargo Securities, LLC acted as lead dealer manager for the offering. J.P. Morgan and Morgan Stanley & Co. LLC acted as co-dealer managers for the offering.

Golub Capital BDC, Inc., a business development company (NASDAQ: GBDC, www.golubcapitalbdc.com), announced today that it will report its financial results for the quarter ended March 31, 2020 on Monday, May 11, 2020 before the open of the financial markets.

Business development companies (BDC) feeling the squeeze from the economic shutdown caused by the coronavirus pandemic are likely to pass that pressure onto shareholders over the next two quarters through dividend cuts. BDCs, which invest in small and mid-sized businesses, make distribution payments to shareholders quarterly. Dividends are one reason investors add BDCs to their portfolio, and slashing payouts removes that incentive.

Must be nice to be cash-heavy right now. The wealthy investors who comprise Tiger 21, a coalition of 750 members worth in excess of $75 billion, raised their cash positions last year to 12% of their portfolio, a level not seen since 2013.

Golub Capital BDC, Inc., a business development company (Nasdaq: GBDC), today announced its financial results for its first fiscal quarter ended December 31, 2019.

Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Golub Capital BDC, Inc.'s filings with Securities and Exchange Commission. Golub Capital BDC's earnings release is also available on the Company's website in the Investor Resources section.

Years of sustained private debt fundraising and the growth of credit funds have allowed direct lenders to offer loans that are increasingly growing larger in size. Known as unitranches, these facilities combine different loans into one, and pay an interest rate that sits in between the highest and lowest rate on the individual loans. As a borrowing tool in the middle market, unitranches had stayed below the US$300m mark.

A provision that loosens restrictions on a private equity-owned company’s ability to remedy an event of default is raising concerns among many in the private debt market. It is an addition to documentation highlighting the continued weakening of lenders’ protections. Auto-cures allow private equity sponsors to put more capital into a company in the event of a default outside the traditional default cure period.

Restaurant Brands (QSR) delivered earnings and revenue surprises of 2.74% and 1.26%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?

Golub Capital BDC, Inc., a business development company (Nasdaq: GBDC), today announced its financial results for its second fiscal quarter ended March 31, 2020.