NYSE$BBDC

Barings Bdc Inc · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Reported strong first quarter results, with the highest NAV since 2022, driven by investment appreciation.

Barings BDC reported a strong first quarter with a net investment income of $29.4 million, or $0.28 per share, and a net increase in net assets resulting from operations of $44.0 million, or $0.41 per share. The NAV per share increased to $11.44, primarily due to net unrealized appreciation on the investment portfolio.

  • Delivered highest NAV since 2022, primarily driven by investment appreciation.
  • Net investment income was $29.4 million, or $0.28 per share.
  • Made 10 new investments totaling $63.5 million and investments in existing portfolio companies totaling $78.9 million.
  • Repurchased a total of 115,911 shares of its common stock in the open market at an average price of $9.56 per share.

Headline financials

Total Revenue

$1.38M

Previous: $1.25M+10.0%
EPS

$0.28

Previous: $0.25+12.0%
Net Asset Value Per Share

$11.44

No prior period
Debt-to-Equity Ratio

1.21

Previous: 1.24-2.4%
Net Debt-to-Equity Ratio

1.17

Previous: 1.19-1.7%
Free Cash Flow

$44M

Previous: $39.7M+11.0%
Net Income

$44M

Previous: $39.7M+11.0%
Operating Income

-$18.6M

Previous: -$19.8M+6.0%
Gross Profit

$1.08M

Previous: $1.05M+2.4%
Total Assets

$2.7B

Previous: $2.73B-1.0%

Revenue & EPS history

Barings BDC · Revenue · Quarterly

$1.38M

Q1 2024+10%vs Q1 2023
Beat estimate in 5 of 13 quarters(38%)
ActualEstimate

Revenue by segment

Barings BDC · $32.1M total across 3 segments · Q1 2022

  • Non-Control / Non-Affiliate
    $31.6M
  • Control Investments
    $273K
  • Affiliate Investments
    $172K

Forward guidance

No specific forward guidance was provided in the document.

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 Q1 2024

Historical avgQ1 2024

+1.3%

Avg return

Earnings day

+0.9%

Avg return

5 days after

-1.2%

Avg return

30 days after

71%

15 / 21 earnings

Positive

+6.0%

Q2 2024

Best reaction

-3.9%

Q3 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.2%-3.2%-6.2%
Q4 2025+0.9%-2.3%-10.5%
Q3 2025-0.7%-1.5%-2.1%
Q1 2025+1.0%+3.1%+3.3%
Q4 2024+2.7%-3.0%-8.7%
Q3 2024+3.1%+2.7%+2.7%
Q2 2024+6.0%+3.7%+3.5%
Q1 2024-1.9%+0.9%+2.2%
Q4 2023+5.8%+8.6%-0.8%
Q3 2023-3.9%-3.8%-6.2%
Q2 2023+5.8%+7.1%+5.1%
Q1 2023-2.4%-3.2%+7.1%
Q4 2022+0.3%+0.7%-9.9%
Q3 2022+2.9%+1.1%-3.1%
Q2 2022+2.1%+2.7%-5.0%
Q1 2022+1.5%+0.4%+1.1%
Q4 2021+0.6%+0.8%-3.3%
Q3 2021+0.7%+0.0%-4.6%
Q2 2021+2.7%+2.9%+3.5%
Q1 2021+1.3%+0.4%+3.2%
Q4 2020-0.2%+0.9%+3.8%

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