NASDAQ$FDUS

Fidus Investment Corporation · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Announced financial results for the second quarter ended June 30, 2023.

Fidus Investment Corporation reported a total investment income of $30.6 million and net investment income of $16.8 million, or $0.67 per share, for the second quarter ended June 30, 2023. The company's board of directors declared total dividends of $0.72 per share for the third quarter of 2023.

  • Total investment income of $30.6 million
  • Net investment income of $16.8 million, or $0.67 per share
  • Adjusted net investment income of $15.6 million, or $0.62 per share
  • Net asset value (“NAV”) of $483.3 million, or $19.13 per share, as of June 30, 2023

Headline financials

Total Revenue

$23.2M

Previous: $21.2M+9.5%
EPS (adj)

$0.62

Previous: $0.43+44.2%
NAV per share

$19.13

Previous: $19.80-3.4%
Repayments and Realizations

$60.6M

Previous: $44.8M+35.3%
Investment Activity

$95.8M

Previous: $45.7M+109.6%
Free Cash Flow

-$5.87M

No prior period
Net Income

-$5.87M

Previous: $11M-153.3%
Operating Income

$9.34M

Previous: $11.1M-15.6%
Gross Profit

$23.2M

No prior period
Cash & Equivalents

$38M

Previous: $72.5M-47.6%
Total Assets

$982M

Previous: $909M+8.1%

Revenue & EPS history

Fidus Investment · Revenue · Quarterly

$23.2M

Q2 2023+9.5%vs Q2 2022
Beat estimate in 7 of 12 quarters(58%)
ActualEstimate

Revenue by segment

Fidus Investment · $30.6M total across 5 segments · Q2 2023

  • Interest income
    $26.2M+35.1%
  • Fee income
    $2.24M+67.4%
  • Payment-in-kind interest
    $1.24M+236.5%
  • Interest on idle funds
    $615K+61400.0%
  • Dividend income
    $304K+300.0%

Forward guidance

The volume of deal activity in the lower middle market offers opportunities to invest selectively in high-quality companies, and Fidus intends to remain focused on long-term goals of growing NAV over time, preserving capital and generating attractive risk-adjusted returns for shareholders.

Historical earnings impact

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

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2023

Historical avgQ2 2023

+1.7%

Avg return

Earnings day

+1.6%

Avg return

5 days after

+2.9%

Avg return

30 days after

63%

15 / 24 earnings

Positive

+16.1%

Q2 2020

Best reaction

-9.9%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.8%+1.5%-0.6%
Q4 2025-3.8%+1.1%-8.0%
Q3 2025-0.7%-5.4%-5.1%
Q1 2025+1.5%+7.7%+8.1%
Q4 2024+1.3%-2.3%-13.8%
Q3 2024-0.2%-2.0%+9.3%
Q2 2024-1.4%-1.6%+2.9%
Q1 2024-2.4%-3.0%-2.3%
Q4 2023-0.2%-1.7%+0.1%
Q3 2023+4.6%+4.5%+5.0%
Q2 2023-1.8%-3.8%-8.4%
Q1 2023+2.5%+1.9%+4.3%
Q4 2022+0.2%-0.1%-12.5%
Q3 2022+3.1%+4.7%-0.2%
Q2 2022+6.0%+3.5%+4.0%
Q1 2022+1.0%-3.5%+0.0%
Q4 2021+6.4%+5.7%+9.4%
Q3 2021+1.2%+0.8%-0.6%
Q2 2021+4.7%+8.2%+9.7%
Q1 2021+5.5%+1.5%+5.1%
Q4 2020+2.4%+5.4%+4.9%
Q3 2020+4.4%+9.6%+40.6%
Q2 2020+16.1%+21.3%+16.3%
Q1 2020-9.9%-15.4%+0.5%

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