Hercules Capital (NYSE: HTGC ) remains an impressive and strategic BDC that's the source of flexible loans to innovative private and public companies. As I wrote last year in my first piece on the company :I am a writer with diverse interests from creative writing to physics to tennis and music. Another interest is markets/investing. I live on the Israeli Golan Heights.I believe in research as a critical component of any investing decision. I find company dynamics and adjustments to market conditions a very ...

For income investors, who want to prioritize high yield without sacrificing quality and overall growth potential, there are not so many choices. The most immediate segments that come into my mind are MLPs ( AMLP ), REITs ( VNQ ), andRoberts Berzins has over a decade of experience in the financial management helping top-tier corporates shape their financial strategies and execute large-scale financings. He has also made significant efforts to institutionalize REIT framework in Latvia to boost the liquidity o ...

Group 1 - The article provides a weekly review of the Business Development Company (BDC) sector, discussing both individual news and broader market trends [1] - It highlights the importance of yield and risk management in investment portfolios, specifically within the BDC market [1] - The article encourages the use of interactive tools for navigating various investment markets, including BDCs, closed-end funds (CEFs), and preferred securities [2] Group 2 - The company offers investor guides to assist in understanding different investment vehicles, including CEFs and preferreds [2] - A promotional offer for a two-week free trial is mentioned, allowing potential investors to explore the services without risk [2]

EARNINGS RESULTS February 2025 4TH QUARTER 2024 Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements Our commentary and responses to your questions may contain forward-looking statements, including our outlook for the first quarter of 2025 and beyond. Forward-looking statements include projections of sales, earnings, general economic conditions, market conditions, working capital, market shares, free cash flow, pricing levels, and effective tax rates. Belden disclaims any ob ...

Financial Data and Key Metrics Changes - For Q4 2024, revenue totaled $666 million, up 21% year-over-year, and earnings per share (EPS) was $1.92, exceeding guidance [8][29] - Adjusted EBITDA margins were 17.1%, an increase of 110 basis points compared to the prior year [8][31] - Full year free cash flow was strong at $223 million, slightly ahead of prior performance [11][40] Business Line Data and Key Metrics Changes - Automation Solutions segment revenue increased by 15% year-over-year, with EBITDA margins at 20.6% [34] - Smart Infrastructure Solutions segment revenue grew 27% year-over-year, with EBITDA margins at 13.3% [36] - Organic revenue growth for the full year was down 6%, with Automation Solutions down 6% and Smart Infrastructure Solutions down 5% [32] Market Data and Key Metrics Changes - The Americas showed organic growth of 23% in Q4, driven by strong performance in energy and process manufacturing [10][49] - Orders for the full year were up 9%, reaching nearly $2.5 billion [9][48] - EMEA markets remained weak, but there was double-digit organic growth in discrete markets [35][79] Company Strategy and Development Direction - The company is focused on strengthening its leadership in automation and infrastructure technologies through strategic acquisitions and product enhancements [15][19] - There is a commitment to advancing solutions capabilities and expanding partnerships, particularly with AWS [16][18] - The company aims to capitalize on re-industrialization trends in the U.S. and improve its competitive positioning in key growth verticals [52][53] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the business environment improving, with expectations for record performance in 2025 [50][54] - There are short-term uncertainties due to policy evaluations, but management believes these will resolve positively [62][104] - The company anticipates a currency exchange headwind impacting revenue and EPS in 2025 [44][56] Other Important Information - The company repurchased approximately 1.3 million shares for $133 million in 2024, reducing share count by 10% over three years [12][41] - The next debt maturity is not until 2027, with all debt fixed at an average rate of 3.5% [43] Q&A Session Summary Question: Clarification on Q1 guidance and order patterns - Management indicated that Q1 guidance does not require a pickup in activity, as it is based on typical seasonality [62][66] Question: Impact of currency on $8 EPS target - Management acknowledged that achieving the $8 EPS target will depend on business conditions improving beyond Q1, with FX being a potential headwind [70][72] Question: Market conditions and customer posture - Management noted that while customers are currently in a neutral posture, sectors like energy and process manufacturing are expected to remain stable [79][80] Question: Solutions business performance - Solutions as a percentage of sales was approximately 10% to 12% for the year, with expectations for continued growth in 2025 [82][86] Question: Order backlog and visibility - The order backlog remains stable at just over $500 million, with no significant changes expected for Q1 [95][96]

Group 1: Earnings Performance - Belden reported quarterly earnings of $1.92 per share, exceeding the Zacks Consensus Estimate of $1.67 per share, and up from $1.46 per share a year ago, representing an earnings surprise of 14.97% [1] - The company posted revenues of $666.04 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2%, and compared to year-ago revenues of $551.24 million [2] Group 2: Stock Performance and Outlook - Belden shares have increased approximately 3.3% since the beginning of the year, outperforming the S&P 500's gain of 3.1% [3] - The current consensus EPS estimate for the upcoming quarter is $1.64 on revenues of $624 million, and for the current fiscal year, it is $7.76 on revenues of $2.73 billion [7] Group 3: Industry Context - The Wire and Cable Products industry, to which Belden belongs, is currently ranked in the top 12% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Exhibit 99.1 Belden Reports Fourth Quarter and Full Year 2024 Results St. Louis, Missouri – February 6, 2025 - Belden Inc. (NYSE: BDC) ("Belden" or the "Company"), a leading global supplier of complete connection solutions, today reported fiscal fourth quarter and full year results for the period ended December 31, 2024. Fourth Quarter 2024 Highlights Full Year 2024 Highlights "I am proud of our team for delivering an excellent quarter and ending the year on a high note," said Ashish Chand, President and CE ...

BDCs are meant to be relatively stable income producers with a clear emphasis on the yield-driven returns. The price appreciation is secondary and usually account for an immaterial part of the total return performance. This is becauseRoberts Berzins has over a decade of experience in the financial management helping top-tier corporates shape their financial strategies and execute large-scale financings. He has also made significant efforts to institutionalize REIT framework in Latvia to boost the liquidity ...

Welcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company ("BDC") sector from both the bottom-up - highlighting individual news and events - as well as the top-down - providing an overview of theCheck out Systematic Income and explore our Income Portfolios, engineered with both yield and risk management considerations. Use our powerful Interactive Investor Tools to navigate the BDC, CEF, OEF, preferred and baby bond markets.Read our ...

When we have entered a phase of a retirement or, in general, a phase in which we start to use portfolio income to fund our living expenses, the things become serious. Usually, when there is a shift from a financial asset accumulation toRoberts Berzins has over a decade of experience in the financial management helping top-tier corporates shape their financial strategies and execute large-scale financings. He has also made significant efforts to institutionalize REIT framework in Latvia to boost the liquidit ...