NASDAQ$CSWC
Capital Southwest Corporation · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported pre-tax net investment income of $0.54 per share.
Capital Southwest Corporation announced financial results for the second fiscal quarter ended September 30, 2022. The company reported a total investment portfolio of $1.1 billion and pre-tax net investment income of $15.0 million, or $0.54 per weighted average share outstanding. The Board of Directors has declared an increase in the regular quarterly dividend to $0.52 per share and a supplemental dividend of $0.05 per share for the December quarter.
- Total Investment Portfolio: $1.1 billion.
- Pre-Tax Net Investment Income: $15.0 million, or $0.54 per weighted average share outstanding.
- Paid $0.50 per share Regular Dividend with 106% LTM Pre-Tax NII Regular Dividend Coverage.
- Net Realized and Unrealized Depreciation on Investments: $5.0 million.
Headline financials
Revenue & EPS history
Capital Southwest · Revenue · Quarterly
$8.66M
Revenue by segment
Capital Southwest · $18.3M total across 2 segments · Q1 2023
- Non-control/Non-affiliate Investments$15.7M—86.2%
- Affiliate Investments$2.51M—13.8%
Forward guidance
The Board of Directors declared an increase in the regular quarterly dividend to $0.52 per share and a supplemental dividend of $0.05 per share for the December quarter. The company feels confident in its ability to continue to grow Pre-Tax Net Investment Income.
Tailwinds
- Portfolio performing well, producing $0.54 of Pre-Tax Net Investment Income.
- Deal activity remained strong, with new commitments of approximately $86 million during the quarter.
- Programmatically raised equity through equity ATM program, raising $26.9 million in gross proceeds.
- Reduced regulatory leverage from 1.23x to 1.11x as of the current quarter end.
- Board of Directors has declared an increase in our regular quarterly dividend to $0.52 per share.
Headwinds
- Future dividend declarations are at the discretion of the Board of Directors.
- Net Realized and Unrealized Depreciation on Investments: $5.0 million.
- Net depreciation related to the credit portfolio of $8.4 million.
- The decrease in NAV per share from the prior quarter is primarily due to net realized losses on investments
- Total net realized and unrealized losses on investments of $5.0 million
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 2023
+0.7%
Avg return
Earnings day
+2.4%
Avg return
5 days after
+1.6%
Avg return
30 days after
62%
26 / 42 earnings
Positive
+9.7%
Q2 2021
Best reaction
-13.0%
Q1 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +2.4% | -1.5% | +0.3% | |
| Q3 2026 | +0.5% | +0.2% | -3.0% | |
| Q2 2026 | -2.3% | +1.7% | +7.0% | |
| Q4 2025 | -0.2% | +2.5% | -1.4% | |
| Q3 2025 | +2.2% | +3.1% | +0.8% | |
| Q2 2025 | -4.5% | -6.4% | -8.9% | |
| Q1 2025 | -0.7% | -2.5% | +2.5% | |
| Q4 2024 | -1.3% | -2.0% | -2.3% | |
| Q3 2024 | +2.7% | -2.0% | -4.8% | |
| Q2 2024 | +4.0% | +3.8% | +7.2% | |
| Q1 2024 | +4.3% | +2.0% | +1.3% | |
| Q4 2023 | +1.1% | +1.6% | +6.1% | |
| Q3 2023 | +3.6% | +2.6% | -2.4% | |
| Q2 2023 | +3.5% | +3.5% | -2.7% | |
| Q1 2023 | +0.6% | +1.4% | -2.4% | |
| Q4 2022 | +3.2% | +5.5% | -15.0% | |
| Q3 2022 | +7.6% | +6.3% | +0.5% | |
| Q2 2022 | -8.1% | -2.6% | -6.0% | |
| Q1 2022 | +6.9% | +5.9% | +8.9% | |
| Q4 2021 | +3.0% | +5.2% | -2.5% | |
| Q3 2021 | +3.5% | +8.5% | +22.0% | |
| Q2 2021 | +9.7% | +17.9% | +33.8% | |
| Q1 2021 | +5.7% | +9.5% | +10.3% | |
| Q4 2020 | +3.6% | +9.2% | -3.1% | |
| Q3 2020 | -1.1% | -2.0% | -9.8% | |
| Q2 2020 | -4.2% | -5.0% | -0.3% | |
| Q1 2020 | +0.5% | +4.0% | +1.7% | |
| Q4 2019 | -0.2% | +0.4% | -3.1% | |
| Q3 2019 | +1.6% | +0.5% | +0.9% | |
| Q1 2019 | +0.3% | +1.8% | +5.4% | |
| Q4 2018 | +0.0% | +10.9% | +8.1% | |
| Q3 2018 | +0.1% | +0.7% | +7.5% | |
| Q1 2017 | +0.9% | -0.3% | +0.2% | |
| Q4 2017 | +1.7% | +2.3% | +1.4% | |
| Q3 2016 | -0.7% | -2.5% | -1.1% | |
| Q3 2013 | — | — | — | |
| Q2 2013 | +2.9% | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | +0.6% | — | — | |
| Q3 2012 | -0.2% | — | — | |
| Q2 2012 | -3.0% | — | — | |
| Q1 2012 | -13.0% | — | — | |
| Q4 2011 | -1.0% | — | — | |
| Q4 2010 | -5.5% | — | — |
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