Investors in Crescent Capital BDC, Inc. (CCAP) need to pay close attention to the stock based on moves in the options market lately. That is because the Sep 19, 2025 $10.00 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It ...

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iREIT+HOYA Capital is the premier income-focused investing service on Seeking Alpha. Our focus is on income-producing asset classes that offer the opportunity for sustainable portfolio income , diversification , and inflation hedging . Get started with a Free Two-Week Trial and take a look at our top ideas across our exclusive income-focused portfolios.A contrarian mindset can be great for picking up bargains, especially for dividend investors who prize higher yields than what the S&P 500 ( SPY ) offers. Fo ...

Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2024 Earnings Conference Call February 20, 2025 ET Company Participants Dan McMahon - Head, IR Jason Breaux - CEO Henry Chung - President Gerhard Lombard - CFO Conference Call Participants Robert Dodd - Raymond James Mickey Schleien - Ladenburg Paul Johnson - KBW Operator Thank you for standing by. My name is Janine, and I will be your lead operator for today's call. At this time, I would like to welcome everyone to the Q4 Crescent Capital BDC, Inc. Earnings Confe ...

Financial Data and Key Metrics Changes - The company reported a net investment income (NII) of $0.55 per share for Q4 2024, down from $0.64 in the prior quarter and $0.61 in Q4 2023, reflecting a decline due to lower investment portfolio yield and non-recurring income [6][26] - The net asset value (NAV) per share decreased by $0.22 to $19.98, with a year-over-year decline of 0.3% [8][28] - Total investment income for Q4 was $46.4 million, compared to $51.6 million in the prior quarter [26] Business Line Data and Key Metrics Changes - The investment portfolio consisted of approximately $1.6 billion across 185 companies, with 90% in first lien loans [9][10] - The weighted average yield of income-producing securities at cost decreased to 10.9% [22] - Non-accruals represented 0.9% of total debt investments at fair value, below the industry average [15] Market Data and Key Metrics Changes - Deal activity increased in Q4 due to lower borrowing costs and a favorable economic outlook, with gross deployment totaling $127 million [17][19] - The weighted average loan-to-value of new investments was 38%, indicating a strong equity cushion [20] Company Strategy and Development Direction - The company continues to focus on non-cyclical industries and maintain a diversified portfolio, with a proactive approach to managing investments [11][14] - The management anticipates increased M&A activity due to favorable conditions, including significant private equity dry powder and a conducive regulatory environment [35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic indicators and the potential for stability in near-term base rates, which could positively impact LBO activity [35][36] - The company remains committed to disciplined credit underwriting and capital preservation [36] Other Important Information - A regular dividend of $0.42 per share was declared for Q1 2025, with special dividends also announced [15][33] - The company has sufficient liquidity with $338 million of undrawn capacity and $39 million in cash equivalents [32] Q&A Session Summary Question: What drove the increase in pre-dated assets? - Management noted that the seven new names added to the watch list had specific company challenges, with attention to thematic or industry indicators [40][41] Question: What is the exposure to tariffs and government contracting? - Management indicated that approximately 12% of the portfolio sources materials from foreign suppliers, and less than 5% derives revenue from government contracts [48][49] Question: What were the drivers of realized and unrealized gains and losses? - The increase in unrealized losses was attributed to a slight increase in three-rated assets and a pickup in non-accruals [65] Question: Are the new non-accruals Crescent originated investments? - One of the three new non-accruals was Crescent originated, while the other two were legacy investments [70] Question: What is the current market spread situation? - Management noted that the weighted average spread of investments was around 500 basis points, with some transactions in the mid to high fours [76][80]

Crescent Capital BDC, Inc. Quarterly Earnings Presentation December 31, 2024 Disclaimer and Forward-Looking Statement This presentation (the "Presentation") has been prepared by Crescent Capital BDC, Inc. (together with its consolidated subsidiaries, "CCAP," "Crescent BDC" or the "Company") and may be used for informational purposes only. This Presentation contains summaries of certain financial and statistical information about the Company and should be viewed in conjunction with the Company's most recent ...

Crescent Capital BDC (CCAP) came out with quarterly earnings of $0.55 per share, missing the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.61 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.79%. A quarter ago, it was expected that this company would post earnings of $0.57 per share when it actually produced earnings of $0.64, delivering a surprise of 12.28%.Over the last four quarters, the com ...

LOS ANGELES, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. ("Crescent BDC" or "Company") (NASDAQ:CCAP) today reported net investment income of $2.40 per share and net income of $1.99 per share for the year ended December 31, 2024. For the quarter ended December 31, 2024, net investment income and net income per share were $0.55 and $0.27, respectively. Reported net asset value (NAV) per share was $19.98 at December 31, 2024. The Company announced that its Board of Directors (the "Board") decl ...

Crescent Capital BDC, Inc. Reports Fourth Quarter 2024 Earnings Results; Declares a First Quarter Base Dividend of $0.42 Per Share and Series of Special Dividends LOS ANGELES, February 19, 2025 — Crescent Capital BDC, Inc. ("Crescent BDC" or "Company") (NASDAQ: CCAP) today reported net investment income of $2.40 per share and net income of $1.99 per share, for the year ended December 31, 2024. For the quarter ended December 31, 2024, net investment income and net income per share were $0.55 and $0.27, respe ...

Dividend and Taxation - The company has adopted a dividend reinvestment plan allowing stockholders to reinvest dividends in additional shares of common stock[66]. - The company has elected to be treated as a Regulated Investment Company (RIC) for U.S. federal income tax purposes, which allows it to avoid corporate-level income taxes on distributed income[94]. - To maintain RIC status, the company must distribute at least 90% of its investment company taxable income annually[95]. - The company must derive at least 90% of its gross income from specific sources to qualify as a RIC, including dividends and interest[97]. - The company is subject to a 4% nondeductible federal excise tax on certain undistributed income unless it meets specific distribution requirements[96]. Regulatory Compliance - The company is regulated as a Business Development Company (BDC) under the 1940 Act, primarily investing in private companies[69]. - The company must maintain an asset coverage ratio of at least 150% after borrowing, limiting its ability to use debt[72]. - The company is permitted to invest up to 30% of its portfolio in "non-qualifying assets" under the 1940 Act[75]. - The company is required to provide significant managerial assistance to portfolio companies to count securities as qualifying assets[77]. - The company must adhere to certain regulatory requirements, including having a majority of independent directors[71]. - The company is subject to periodic examinations by the SEC for compliance with the 1940 Act[74]. - The company must disclose its internal control effectiveness and any significant changes in its internal controls over financial reporting[90]. - The company has adopted compliance policies and procedures to prevent violations of federal securities laws[83]. - The company is required to furnish stockholders with annual reports containing audited financial statements and quarterly reports[92]. Financial Performance and Risk Management - As of December 31, 2024, 97.3% of the investments at fair value in the company's portfolio were at variable rates, subject to interest rate floors[395]. - A hypothetical 100 basis point increase in interest rates would result in an increase of $14.7 million in interest income and $5.9 million in interest expense, leading to a net interest income of $8.8 million[396]. - The company has £16.9 million, AUD $44.8 million, and SEK 11.6 million notional exposure to foreign currency forward contracts related to investments totaling £17.2 million, €18.3 million, AUD $29.5 million, and SEK 11.6 million at par[399]. - The company may be required to recognize taxable income without receiving cash, particularly in cases involving Original Issue Discount (OID) on debt obligations[98]. - The company is subject to asset coverage ratio requirements under the 1940 Act, which could restrict its ability to make necessary distributions[99]. - The company may utilize hedging instruments to mitigate interest rate fluctuations, but such strategies may also limit benefits from lower interest rates[398].