Group 1: Earnings Performance - Crescent Capital BDC reported quarterly earnings of $0.46 per share, matching the Zacks Consensus Estimate, but down from $0.59 per share a year ago [1] - The company had a revenue of $42.99 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 2.02%, but down from $48.95 million year-over-year [2] - Over the last four quarters, Crescent Capital BDC has surpassed consensus EPS estimates only once [1] Group 2: Stock Performance and Outlook - Crescent Capital BDC shares have declined approximately 24% since the beginning of the year, contrasting with the S&P 500's gain of 9.6% [3] - The company's earnings outlook will be crucial for future stock performance, with current consensus EPS estimates at $0.46 for the coming quarter and $1.81 for the current fiscal year [4][7] - The Zacks Rank for Crescent Capital BDC is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Group 3: Industry Context - The Financial - SBIC & Commercial Industry, to which Crescent Capital BDC belongs, is currently in the bottom 20% of over 250 Zacks industries, which may negatively impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry outlook can significantly affect stock performance [5][8]

Core Viewpoint - Crescent Capital BDC, Inc. reported its financial results for the quarter ended June 30, 2025, highlighting a net investment income of $0.46 per share and a net income of $0.41 per share, with a net asset value (NAV) per share of $19.55 [1][4]. Financial Performance - Net investment income for the second quarter was impacted by a one-time accelerated amortization of $0.02 per share related to deferred financing costs [1]. - Investment income increased to $43.0 million from $42.1 million in the previous quarter, with interest income rising to $40.1 million [6]. - Total net expenses for the quarter were $26.1 million, compared to $25.5 million in the previous quarter [7]. Dividend Declarations - The Board declared a regular cash dividend of $0.42 per share for the third quarter of 2025, payable on October 15, 2025 [2]. - A special dividend of $0.05 per share will be paid on September 15, 2025 [2]. Share Repurchase Program - The Board authorized a stock repurchase program to buy back up to $20.0 million of common stock in the open market [3]. Investment Portfolio - As of June 30, 2025, the company had investments in 187 portfolio companies with a fair value of $1,600.7 million [5]. - The portfolio comprised various asset types, with the largest being unitranche first lien loans at $1,043.6 million, representing 65.2% of the total investments [5]. Liquidity and Capital Resources - As of June 30, 2025, the company had $26.1 million in cash and cash equivalents and $227.2 million of undrawn capacity on its credit facilities [8]. - The weighted average cost of debt was 6.09%, and the debt to equity ratio stood at 1.23x [8].

Core Insights - Crescent Capital BDC reported net investment income of $0.46 per share and net income of $0.41 per share for the quarter ended June 30, 2025, with a net asset value (NAV) per share of $19.55 [1][4] Financial Performance - Total investment income increased to $43.0 million for the quarter ended June 30, 2025, compared to $42.1 million for the previous quarter [6] - Net investment income for the quarter was $16.9 million, slightly up from $16.6 million in the prior quarter [4][6] - The company experienced net realized losses of $2.9 million and a net change in unrealized gains of $1.0 million for the quarter [4][6] Dividend Declarations - The Board declared a regular cash dividend of $0.42 per share for the third quarter of 2025, payable on October 15, 2025 [2] - A special dividend of $0.05 per share will be paid on September 15, 2025 [2] Share Repurchase Program - The Board authorized a stock repurchase program to buy back up to $20.0 million of common stock in the open market [3] Investment Portfolio - As of June 30, 2025, the company had investments in 187 portfolio companies with a fair value of $1,600.7 million [5] - The portfolio consisted primarily of unitranche first lien loans, making up 65.2% of the total investments [5] Liquidity and Capital Resources - The company had $26.1 million in cash and cash equivalents and $227.2 million of undrawn capacity on its credit facilities as of June 30, 2025 [8] - The weighted average cost of debt was 6.09%, with a debt to equity ratio of 1.23x [8] Upcoming Events - A conference call to discuss the financial results for the quarter ended June 30, 2025, is scheduled for August 14, 2025 [9]

[Crescent Capital BDC, Inc. Q2 2025 Earnings Release](index=1&type=section&id=Crescent%20Capital%20BDC%2C%20Inc.%20Q2%202025%20Earnings%20Release) [Financial and Operational Highlights](index=1&type=section&id=Financial%20and%20Operational%20Highlights) Crescent BDC reported Q2 2025 net investment income of **$0.46 per share** and **NAV of $19.55 per share**, declared a **$0.42 dividend**, and authorized a **$20 million stock repurchase program** Q2 2025 Key Per-Share Metrics | Metric | Value ($ per Share) | | :--- | :--- | | Net Investment Income | $0.46 | | Net Income | $0.41 | | Net Asset Value (NAV) | $19.55 | - The Board of Directors declared a third-quarter 2025 regular cash dividend of **$0.42 per share**[3](index=3&type=chunk) - A new stock repurchase program was authorized to buy back up to **$20.0 million** of common stock when trading below NAV[4](index=4&type=chunk) Quarterly Financial Trends | Metric | June 30, 2025 | March 31, 2025 | June 30, 2024 | | :--- | :--- | :--- | :--- | | Net asset value per share | $19.55 | $19.62 | $20.30 | | Net investment income per share | $0.46 | $0.45 | $0.59 | | Investments, at fair value | $1,600.7M | $1,620.7M | $1,610.8M | [Portfolio and Investment Activity](index=1&type=section&id=Portfolio%20and%20Investment%20Activity) The company's Q2 2025 portfolio fair value was **$1.6 billion**, primarily first lien debt, with net investment outflows Portfolio Composition by Asset Type (June 30, 2025) | Investment Type | Fair Value ($M) | Percentage | | :--- | :--- | :--- | | Senior secured first lien | $381.3 | 23.8% | | Unitranche first lien | $1,043.6 | 65.2% | | Unitranche first lien - last out | $26.2 | 1.6% | | Senior secured second lien | $23.4 | 1.5% | | Other (Unsecured, Equity, etc.) | $126.2 | 7.9% | | **Total investments** | **$1,600.7** | **100.0%** | Q2 2025 Investment Activity | Activity | Amount ($M) | | :--- | :--- | | New Investments & Fundings | $57.5 | | Exits, Sales & Repayments | $92.7 | [Results of Operations](index=2&type=section&id=Results%20of%20Operations) Q2 2025 total investment income increased to **$43.0 million** sequentially, driven by higher dividend income, with total net expenses also rising Investment Income Comparison (QoQ) | Income Type | Q2 2025 ($M) | Q1 2025 ($M) | | :--- | :--- | :--- | | Interest Income | $40.1 | $39.7 | | Dividend Income | $1.8 | $1.5 | | Other Income | $1.0 | $0.9 | | **Total Investment Income** | **$43.0** | **$42.1** | - Total net expenses for the three months ended June 30, 2025, were **$26.1 million**, compared to **$25.5 million** for the quarter ended March 31, 2025[9](index=9&type=chunk) [Liquidity and Capital Resources](index=2&type=section&id=Liquidity%20and%20Capital%20Resources) Crescent BDC maintained **$26.1 million** in cash and **$227.2 million** undrawn credit capacity, with a stable **1.23x** debt-to-equity ratio Liquidity and Leverage (June 30, 2025) | Metric | Value | | :--- | :--- | | Cash and Cash Equivalents | $26.1 million | | Undrawn Credit Facility Capacity | $227.2 million | | Weighted Average Cost of Debt | 6.09% | | Debt to Equity Ratio | 1.23x | [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) Consolidated financial statements show total net assets of **$724.7 million** and Q2 net investment income of **$16.9 million** [Consolidated Statements of Assets and Liabilities](index=6&type=section&id=Consolidated%20Statements%20of%20Assets%20and%20Liabilities) The balance sheet shows total assets of **$1.65 billion** and total liabilities of **$929.7 million**, with total net assets at **$724.7 million** Balance Sheet Summary (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Assets | $1,654,444 | $1,656,274 | | Total Liabilities | $929,728 | $915,637 | | **Total Net Assets** | **$724,716** | **$740,637** | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) Q2 2025 operations generated **$43.0 million** in total investment income and **$16.9 million** in net investment income, with a **$15.0 million** net increase in net assets Income Statement Summary (Three Months Ended June 30, in thousands) | Account | 2025 | 2024 | | :--- | :--- | :--- | | Total Investment Income | $42,992 | $48,951 | | Net Expenses | $25,705 | $26,815 | | **Net Investment Income** | **$16,887** | **$21,703** | | Net Realized/Unrealized Losses | $(1,874) | $(1,499) | | **Net Increase in Net Assets** | **$15,013** | **$20,385** | [Corporate Information and Events](index=2&type=section&id=Corporate%20Information%20and%20Events) Crescent BDC will host a conference call on August 14, 2025, to discuss Q2 results, managed by Crescent Capital Group with **$47 billion** in AUM - The company will host a conference call and webcast on Thursday, August 14, 2025, at 12:00 p.m. (Eastern Time) to discuss the quarterly results[11](index=11&type=chunk) - Crescent BDC is externally managed by Crescent Cap Advisors, LLC, a subsidiary of Crescent Capital Group, which has **$47 billion** of assets under management[18](index=18&type=chunk)[19](index=19&type=chunk)

Core Viewpoint - Crescent Capital BDC, Inc. will release its financial results for the second quarter ended June 30, 2025, on August 13, 2025, after market close, followed by a conference call on August 14, 2025, at 12:00 p.m. Eastern Time to discuss these results [1]. Group 1: Financial Results Announcement - Crescent BDC will announce its second-quarter financial results on August 13, 2025, after market close [1]. - A conference call to discuss these results is scheduled for August 14, 2025, at 12:00 p.m. Eastern Time [1]. Group 2: Conference Call Information - The conference call will be available live on Crescent BDC's Investor Relations website [2]. - Participants can join the call by dialing a toll-free number and using a specific conference ID [2]. Group 3: Company Overview - Crescent BDC is a business development company focused on maximizing total returns for stockholders through capital solutions for middle market companies [4]. - The company is externally managed by Crescent Cap Advisors, LLC, a subsidiary of Crescent Capital Group LP [4]. - Crescent Capital Group LP manages $46 billion in assets and specializes in below investment grade credit [5].

Group 1 - Crescent Capital BDC, Inc. (NASDAQ: CCAP) is a business development company that is currently underappreciated despite having an above-average non-accrual ratio [1] - The company focuses on high-tech and early growth sectors, indicating a strategy that emphasizes innovation and disruption [1] Group 2 - The article highlights the importance of research and investment opportunities in the context of the current market landscape [1]

Core Insights - Business Development Companies (BDCs) are publicly-traded firms that lend to small businesses and are mandated to return at least 90% of taxable income to shareholders as dividends [3][4] - BDCs offer high yields, with some providing returns up to nearly 13% [2] - The article highlights three specific BDCs that are trading below their net asset value (NAV) while offering substantial dividends [3] BDC Overview - BDCs were created by Congress to serve as new lenders to small businesses, similar to Real Estate Investment Trusts (REITs) [3] - They are characterized by their requirement to distribute a significant portion of their income as dividends, making them attractive for income-focused investors [3] High-Yield BDC 1: BlackRock TCP Capital Corp. (TCPC) - TCPC focuses on middle-market companies with enterprise values between $100 million and $1.5 billion and has a diverse portfolio of 146 companies [4] - The investment mix is primarily in first-lien debt (83%), with 94% of its debt being floating-rate [5] - TCPC has faced challenges, including a recent dividend cut and a high level of non-accrual loans at 12.6% [10][9] High-Yield BDC 2: Crescent Capital BDC (CCAP) - CCAP is associated with Crescent Capital Group and invests in 191 portfolio companies, primarily in first-lien debt (91%) [11][12] - The company has a complex dividend history, with recent changes in special dividends and a focus on undistributed taxable income [13][14] - CCAP is currently trading at a 23% discount to NAV, with an 11% yield on the base dividend [16] High-Yield BDC 3: PennantPark Floating Rate Capital (PFLT) - PFLT targets midsized companies with annual EBITDA between $10 million and $50 million and has a portfolio of 190 companies [17][18] - Approximately 90% of PFLT's portfolio consists of floating-rate first-lien debt [19] - The company pays monthly dividends with a yield of nearly 12%, but its dividend coverage is tight, with a 97% payout ratio [21][20]

Group 1 - Roberts Berzins has over a decade of experience in financial management, assisting top-tier corporates in shaping financial strategies and executing large-scale financings [1] - Significant efforts have been made to institutionalize the REIT framework in Latvia to enhance the liquidity of pan-Baltic capital markets [1] - Development of national SOE financing guidelines and frameworks for channeling private capital into affordable housing stock has been a focus area [1] Group 2 - Roberts Berzins is a CFA Charterholder and holds an ESG investing certificate, indicating a strong background in investment analysis and sustainable finance [1] - Active involvement in "thought-leadership" activities supports the development of pan-Baltic capital markets, showcasing a commitment to industry advancement [1]

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The service offers a free two-week trial for potential investors to explore exclusive income-focused portfolios [1] Group 2 - Bargain hunting for income stocks is highlighted as a rewarding strategy, though it comes with inherent risks [2] - Investors are encouraged to assess whether market headwinds are temporary or indicative of structural flaws in the stocks [2] Group 3 - The article emphasizes the importance of due diligence and personal judgment in making investment decisions [4] - It clarifies that past performance does not guarantee future results, and no specific investment recommendations are provided [5]

Group 1 - Crescent Capital BDC, Inc. (CCAP) held its Q1 2025 earnings conference call on May 15, 2025, to discuss financial results and company performance [1][3] - The earnings press release for Q1 2025 was issued after market close on the previous day, along with a presentation available on the company's investor relations website [3] - The call featured key company executives including CEO Jason Breaux, President Henry Chung, and CFO Gerhard Lombard [1][3] Group 2 - The company emphasized the importance of reviewing the earnings presentation in conjunction with the Form 10Q filed with the SEC [3] - The call was recorded for replay purposes, indicating the company's commitment to transparency and investor communication [2][3]