NASDAQ$GBDC

Golub Capital BDC Inc · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Announced fiscal year 2024 first quarter financial results with second consecutive quarter of highest-ever adjusted net investment income.

Golub Capital BDC, Inc. reported net investment income per share of $0.49 and adjusted net investment income before accrual for capital gain incentive fee of $0.50 for the quarter ended December 31, 2023. Net asset value per share increased to $15.03. The company also declared a supplemental distribution of $0.07 per share in addition to the previously declared $0.39 per share quarterly distribution.

  • Net investment income per share was $0.49 for the quarter ended December 31, 2023.
  • Adjusted Net Investment Income Before Accrual for Capital Gain Incentive Fee was $0.50 for the quarter ended December 31, 2023.
  • Net asset value per share increased to $15.03 at December 31, 2023.
  • A supplemental distribution of $0.07 per share was declared in addition to the previously declared $0.39 per share quarterly distribution.

Headline financials

Total Revenue

$84.9M

Previous: $67.1M+26.6%
EPS

$0.45

Previous: $0.37+21.6%
NAV per Share

$15.03

Previous: $14.71+2.2%
Capital Expenditures

$0.00

No prior period
Free Cash Flow

$75.8M

Previous: $25.6M+196.2%
Net Income

$75.8M

Previous: $25.6M+196.2%
Operating Income

$68.4M

Previous: $29.5M+131.4%
Gross Profit

$84.9M

Previous: $67.1M+26.6%
Cash & Equivalents

$70.7M

Previous: $96.4M-26.7%
Total Assets

$5.7B

Previous: $5.67B+0.6%

Revenue & EPS history

Golub Capital BDC · Revenue · Quarterly

$84.9M

Q1 2024+26.6%vs Q1 2023
Beat estimate in 3 of 13 quarters(23%)
ActualEstimate

Revenue by segment

Golub Capital BDC · $5.52B total across 4 segments · Q4 2023

  • One Stop
    $4.68B+0.2%
  • Senior Secured
    $504M+6.6%
  • Equity
    $297M+7.1%
  • Junior Debt
    $37.1M+37.1%

Forward guidance

The company increased GBDC’s quarterly base distribution by over 5% and declared a quarterly distribution of $0.39 per share, which is payable on March 29, 2024, to stockholders of record as of March 1, 2024.

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 Q1 2024

Historical avgQ1 2024

-0.1%

Avg return

Earnings day

+0.1%

Avg return

5 days after

-2.2%

Avg return

30 days after

42%

8 / 19 earnings

Positive

+2.9%

Q4 2022

Best reaction

-3.8%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026-2.0%-3.8%-3.7%
Q1 2026+1.5%-1.3%-5.2%
Q4 2026-0.1%+2.1%-0.7%
Q2 2025+0.6%+2.3%+6.4%
Q1 2025-2.3%+0.1%-4.1%
Q4 2024-1.9%-1.4%-4.1%
Q3 2024-0.8%-2.2%+1.2%
Q2 2024-0.4%-0.9%-4.6%
Q1 2024-1.0%+0.5%+3.3%
Q4 2023+2.0%+1.9%+0.5%
Q3 2023+2.4%+5.2%+0.9%
Q2 2023-1.0%-1.7%+0.8%
Q1 2023-3.8%-2.1%-10.6%
Q4 2022+2.9%+6.0%-2.8%
Q3 2022-1.2%-0.1%-5.2%
Q2 2022-0.1%-4.5%-9.3%
Q1 2022+0.8%-0.6%-7.0%
Q4 2021+1.1%+2.4%+2.8%
Q4 2020+1.3%-0.6%-1.3%

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