NASDAQ$CCAP

Crescent Capital BDC Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Crescent Capital BDC reported net investment income and adjusted net investment income for the quarter ended June 30, 2021.

Crescent Capital BDC reported a net investment income of $11.0 million, or $0.39 per share, and an adjusted net investment income of $14.8 million, or $0.53 per share, for the quarter ended June 30, 2021. The net asset value per share was $20.98 as of June 30, 2021. The Board of Directors declared a regular cash dividend for the third quarter 2021 of $0.41 per share.

  • Net investment income was $11.0 million, or $0.39 per share.
  • Adjusted net investment income was $14.8 million, or $0.53 per share.
  • Net asset value per share was $20.98.
  • A regular cash dividend for the third quarter 2021 of $0.41 per share was declared.

Headline financials

Total Revenue

$23.8M

Previous: $19.3M+23.1%
EPS (adj)

$0.53

Previous: $0.46+15.2%
Floating Rate Debt %

99.6%

Previous: 96.9%+2.8%
Net Income

$11M

Previous: $13M-15.3%
Cash & Equivalents

$25.8M

Previous: $11.6M+123.1%
Total Assets

$1.13B

Previous: $926M+21.8%

Revenue & EPS history

Crescent Capital BDC · Revenue · Quarterly

$23.8M

Q2 2021+23.1%vs Q2 2020
Beat estimate in 5 of 8 quarters(63%)
ActualEstimate

Revenue by segment

Crescent Capital BDC · $991M total across 5 segments · Q2 2021

  • Unitranche First Lien
    $494M
  • Senior Secured First Lien
    $371M
  • Senior Secured Second Lien
    $65.3M
  • LLC/LP Equity Interests
    $55.6M
  • Unsecured Debt
    $5.5M

Forward guidance

The Company provided forward-looking statements regarding its future financial or business performance, strategies, or expectations.

Tailwinds

  • Crescent BDC seeks to maximize the total return of its stockholders.
  • Crescent BDC aims to provide capital solutions to middle market companies.
  • Crescent BDC targets companies with sound business fundamentals.
  • Crescent BDC focuses on companies with strong growth prospects.
  • Crescent BDC utilizes the experience and origination capabilities of Crescent Capital Group LP.

Headwinds

  • Forward-looking statements are subject to numerous assumptions, risks, and uncertainties.
  • Actual results could differ materially from those anticipated in forward-looking statements.
  • Future results could differ materially from historical performance.
  • Dependence on the general economy and its impact on the industries in which Crescent BDC invests.
  • Changes and volatility in political, economic, or industry conditions.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

+0.4%

Avg return

Earnings day

+0.4%

Avg return

5 days after

+0.4%

Avg return

30 days after

57%

13 / 23 earnings

Positive

+5.4%

Q4 2022

Best reaction

-4.7%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.1%-16.1%-14.9%
Q4 2025-0.5%+1.1%-7.2%
Q3 2025-4.5%-6.3%+5.1%
Q1 2025-4.5%-5.2%-11.2%
Q4 2024-4.7%-8.6%-11.8%
Q3 2024+3.1%+4.2%+9.3%
Q2 2024-0.2%+2.0%+1.5%
Q1 2024+2.5%+2.5%+7.3%
Q4 2023+3.5%+2.6%+7.4%
Q3 2023-0.2%+1.2%+1.6%
Q2 2023+0.1%+2.4%-0.2%
Q1 2023+0.5%+1.6%+4.1%
Q4 2022+5.4%+7.3%-5.8%
Q3 2022-0.5%-2.9%-5.4%
Q2 2022+1.8%+6.4%+4.9%
Q1 2022-4.0%-3.8%-2.7%
Q4 2021-2.5%-0.9%+1.5%
Q3 2021+2.8%+2.7%-6.4%
Q2 2021+1.3%+0.5%-0.1%
Q1 2021+0.6%+7.6%+5.4%
Q4 2020+0.9%+5.6%+8.6%
Q3 2020+5.2%+1.3%+10.4%
Q2 2020+3.6%+3.2%+7.2%
Q4 2019
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q3 2015
Q2 2015

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