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Palmer Square Capital BDC(PSBD) - 2025 Q2 - Quarterly Results
2025-08-06 21:24
Declares Third Quarter 2025 Base Dividend of $0.36 Per Share with Supplemental Dividend Expected to be Announced in September MISSION WOODS, Kansas, August 06, 2025 — Palmer Square Capital BDC Inc. (NYSE: PSBD) ("PSBD" or the "Company"), an externally managed business development company, today announced its financial results for the second quarter ended June 30, 2025. Exhibit 99.1 Palmer Square Capital BDC Inc. Announces Second Quarter 2025 Financial Results Financial and Operating Highlights "Palmer Squar ...
Palmer Square Capital BDC Inc. (PSBD) Surpasses Q2 Earnings and Revenue Estimates
ZACKS· 2025-08-06 13:21
Company Performance - Palmer Square Capital BDC Inc. reported quarterly earnings of $0.43 per share, exceeding the Zacks Consensus Estimate of $0.41 per share, but down from $0.48 per share a year ago, representing an earnings surprise of +4.88% [1] - The company posted revenues of $31.68 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 4.79%, but down from $36.55 million year-over-year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates just once and topped consensus revenue estimates two times [2] Stock Performance - Palmer Square Capital BDC Inc. shares have declined approximately 7.7% since the beginning of the year, while the S&P 500 has gained 7.1% [3] - The current consensus EPS estimate for the upcoming quarter is $0.42 on revenues of $30.29 million, and for the current fiscal year, it is $1.62 on revenues of $121.86 million [7] Industry Outlook - The Financial - SBIC & Commercial Industry, to which Palmer Square Capital BDC Inc. belongs, is currently ranked in the top 41% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5][6]
Palmer Square's CLO Indices Celebrate 10 Year Anniversary
Prnewswire· 2025-05-29 22:50
Core Insights - Palmer Square Capital Management celebrates the 10-year anniversary of its CLO indices, which were first introduced on May 29, 2015, providing daily performance benchmarks for the CLO market [1][2] Company Overview - Palmer Square Capital Management was founded in 2009 and manages over $34.2 billion in fixed income and credit investments as of March 31, 2025 [7] - The firm focuses on Opportunistic Credit, Income Strategies, Private Credit, and CLOs, offering various investment products including mutual funds and private partnerships [7] Industry Insights - The CLO market has grown significantly from approximately $400 million a decade ago to over $1 trillion in market value, highlighting the rapid expansion of this asset class [4] - Palmer Square's daily performance indices have contributed to the transparency and growth of the CLO market, allowing investors to benchmark performance effectively [4] Performance Data - The Palmer Square CLO Senior Debt Index (CLOSE) has shown varied performance over the years, with a year-to-date return of 1.57% in 2025 and a peak return of 9.01% in 2023 [3] - The Palmer Square CLO Debt Index (CLODI) has also demonstrated strong performance, achieving a return of 13.22% in 2024 and 17.40% in 2023 [3]
Palmer Square Capital BDC(PSBD) - 2025 Q1 - Quarterly Results
2025-05-07 20:15
[First Quarter 2025 Financial Results Announcement](index=1&type=section&id=First%20Quarter%202025%20Financial%20Results%20Announcement) [Overview and Key Highlights](index=1&type=section&id=Overview%20and%20Key%20Highlights) Q1 2025 results show decreased investment income and NAV per share, with a declared Q2 base dividend and expected supplemental dividend - Palmer Square Capital BDC Inc. announced its financial results for the first quarter ended March 31, 2025, and declared a second quarter 2025 base dividend of **$0.36 per share**[1](index=1&type=chunk) Key Financial Highlights | Metric | Q1 2025 | Q1 2024 | Change (YoY) | | :-------------------------------- | :-------- | :-------- | :----------- | | Total Investment Income | $31.2M | $34.8M | -$3.6M | | Net Investment Income | $12.9M | $16.3M | -$3.4M | | Net Investment Income Per Share | $0.40 | $0.52 | -$0.12 | | Net Asset Value Per Share (as of period end) | $15.85 (Mar 31, 2025) | $16.50 (Dec 31, 2024) | -$0.65 (QoQ) | | Total Net Realized & Unrealized | -$21.3M | $6.6M | -$27.9M | | Total Assets (as of period end) | $1.4B | N/A | N/A | | Total Net Assets (as of period end) | $515.8M | N/A | N/A | | Debt-to-Equity (as of period end) | 1.50x | 1.50x (Dec 31, 2024) | Unchanged | | Cash Distributions Paid (Q1 2025) | $0.39/share | N/A | N/A | | Declared Q2 Base Dividend | $0.36/share | N/A | N/A | | PIK Income (% of Total Inv. Income) | 1.63% | N/A | N/A | [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Christopher D. Long highlighted the company's flexible investment strategy and shareholder alignment, seeing value in the current NAV discount - CEO Christopher D. Long stated that Palmer Square Capital BDC's investment strategy, rooted in liquid credit opportunities and senior-secured private credit, demonstrated strength and flexibility in Q1 2025, particularly during macro uncertainty[3](index=3&type=chunk) - The company was established with a focus on shareholder alignment, offering a differentiated fee structure and prioritizing transparency in monthly NAV and quarterly portfolio disclosure[3](index=3&type=chunk) - The CEO believes the current discount to NAV provides great value and that the investment team continues to find opportunities that preserve credit quality, deliver attractive yield, and create long-term shareholder value[3](index=3&type=chunk) [Detailed Financial Performance](index=2&type=section&id=Detailed%20Financial%20Performance) [Per Common Share Operating Performance](index=2&type=section&id=Per%20Common%20Share%20Operating%20Performance) Q1 2025 saw declines in Net Investment Income and NAV per share, with negative total return and decreased net assets Per Common Share Operating Metrics | Metric | Q1 2025 | Q4 2024 | Q1 2024 | Change (QoQ) | Change (YoY) | | :------------------------------------ | :-------- | :-------- | :-------- | :----------- | :----------- | | Net Investment Income Per Share | $0.40 | $0.45 | $0.52 | -$0.05 | -$0.12 | | NAV Per Share (End of Period) | $15.85 | $16.50 | $17.16 | -$0.65 | -$1.31 | | Dividends Earned Per Share | $0.39 | $0.48 | $0.49 | -$0.09 | -$0.10 | | Net Realized & Unrealized Gain (Loss) per Share | -$0.66 | N/A | $0.09 | N/A | -$0.75 | | Net Increase (Decrease) in Net Assets from Operations per Share | -$0.26 | N/A | $0.61 | N/A | -$0.87 | | Distributions to Common Stockholders per Share | -$0.39 | N/A | -$0.49 | N/A | $0.10 | | Total Return (%) | (1.05)% | 2.36% | 3.70% | -3.41% | -4.75% | | Shares Outstanding (End of Period) (count) | 32,534,040 | 32,600,193 | 32,552,794 | -66,153 | -18,754 | | Net Assets (End of Period) | $515,807,254 | $537,844,969 | $558,537,164 | -$22,037,715 | -$42,729,910 | - The ratio of operating expenses to average net assets with waiver remained stable at **13.72%** in Q1 2025 compared to **13.66%** in Q1 2024[16](index=16&type=chunk) - The ratio of net investment income to average net assets with waiver decreased to **9.68%** in Q1 2025 from **12.07%** in Q1 2024[16](index=16&type=chunk) [Consolidated Statement of Assets and Liabilities](index=6&type=section&id=Consolidated%20Statement%20of%20Assets%20and%20Liabilities) Total assets and liabilities decreased in Q1 2025, primarily due to reduced non-affiliated investments, leading to lower net assets Consolidated Assets and Liabilities | Asset/Liability | March 31, 2025 | December 31, 2024 | Change (QoQ) | | :------------------------------------------------ | :------------- | :---------------- | :----------- | | Non-controlled, non-affiliated investments (fair value) | $1,334,314,263 | $1,407,130,945 | -$72,816,682 | | Cash and cash equivalents | $2,872,420 | $2,766,409 | $106,011 | | Total Assets | $1,362,929,722 | $1,431,042,759 | -$68,113,037 | | Credit facilities (net) | $472,325,212 | $501,650,602 | -$29,325,390 | | Notes (net) | $302,126,552 | $302,505,057 | -$378,505 | | Payable for investments purchased | $54,828,596 | $67,460,523 | -$12,631,927 | | Distributions payable | $12,691,089 | $15,649,925 | -$2,958,836 | | Total Liabilities | $847,122,468 | $893,197,790 | -$46,075,322 | | Total Net Assets | $515,807,254 | $537,844,969 | -$22,037,715 | | Net Asset Value Per Common Share | $15.85 | $16.50 | -$0.65 | - The company had **$20.2 million** in unfunded commitments to portfolio companies as of March 31, 2025, a slight decrease from **$21.6 million** at December 31, 2024[22](index=22&type=chunk) [Consolidated Statement of Operations](index=7&type=section&id=Consolidated%20Statement%20of%20Operations) Q1 2025 total investment income and net investment income declined, with significant net realized and unrealized losses impacting net assets Consolidated Statement of Operations Summary | Income/Expense Item | Q1 2025 | Q1 2024 | Change (YoY) | | :------------------------------------ | :----------- | :----------- | :----------- | | Interest income | $29,819,663 | $33,259,959 | -$3,440,296 | | Dividend income | $574,336 | $1,254,696 | -$680,360 | | Payment-in-kind interest income | $507,850 | $0 | $507,850 | | Total Investment Income | $31,214,279 | $34,784,943 | -$3,570,664 | | Incentive fees | $1,842,706 | $1,924,752 | -$82,046 | | Interest expense | $12,969,757 | $13,178,830 | -$209,073 | | Management fees | $2,333,675 | $2,416,239 | -$82,564 | | Total Expenses | $18,301,128 | $18,517,225 | -$216,097 | | Net Investment Income (Loss) | $12,913,151 | $16,318,229 | -$3,405,078 | | Net realized gains (losses) | -$5,894,493 | -$1,736,331 | -$4,158,162 | | Net change in unrealized gains (losses) | -$15,407,869 | $8,298,242 | -$23,706,111 | | Total realized and unrealized gains (losses) | -$21,302,362 | $6,561,911 | -$27,864,273 | | Net Increase (Decrease) in Net Assets from Operations | -$8,389,211 | $22,880,140 | -$31,269,351 | | Basic and diluted net investment income per common share | $0.40 | $0.52 | -$0.12 | - The company recorded **$507,850** in Payment-in-kind (PIK) interest income in Q1 2025, compared to none in Q1 2024[24](index=24&type=chunk) [Portfolio and Investment Activity](index=2&type=section&id=Portfolio%20and%20Investment%20Activity) [Portfolio Composition and Characteristics](index=2&type=section&id=Portfolio%20Composition%20and%20Characteristics) The Q1 2025 portfolio, valued at $1.3 billion, comprised 260 investments, mostly floating-rate senior secured debt across 209 companies Portfolio Composition and Key Characteristics | Metric | As of March 31, 2025 | As of December 31, 2024 | As of March 31, 2024 | | :------------------------------------ | :------------------- | :-------------------- | :------------------- | | Total Fair Value of Investments | $1,334,314,000 | $1,407,131,000 | $1,393,192,000 | | Number of Industries | 39 | 38 | 39 | | Number of Portfolio Companies | 209 | 207 | 211 | | Portfolio Yield (%) | 10.37% | 10.65% | 10.11% | | Senior Secured Loan % (%) | 96% | 96% | 96% | | Investments on Non-Accrual % (%) | 0.24% | 0.08% | 0.00% | - As of March 31, 2025, the portfolio's fair value composition included **86.2%** first lien senior secured debt, **5.4%** second lien senior secured debt, **4.3%** short-term investments, **3.3%** CLOs mezzanine and equity, **0.3%** corporate bonds, and **0.5%** equity investments[6](index=6&type=chunk) - **98%** of long-term investments were at floating rates, and **99.76%** of the portfolio at fair value was income producing. The weighted average total yield to maturity of debt and income producing securities at fair value was **10.37%**, and at amortized cost was **8.48%**[7](index=7&type=chunk) [Investment Transaction Details](index=8&type=section&id=Investment%20Transaction%20Details) Q1 2025 saw $104.3 million in new investments, offset by $144.4 million in sales/repayments, resulting in a net decrease in total investments Investment Transaction Summary | Investment Activity | Q1 2025 | Q1 2024 | Change (YoY) | | :------------------------------------ | :----------- | :----------- | :----------- | | Gross investments funded | $104,323,107 | $346,482,823 | -$242,159,716 | | Investments sold/repaid | $144,369,364 | $69,556,336 | $74,813,028 | | Total new investments (net) | -$40,046,257 | $276,926,487 | -$316,972,744 | | Number of new investment commitments (count) | 23 | 36 | -13 | | Average new investment commitment amount (USD) | $3,855,336 | $4,052,057 | -$196,721 | | Weighted average maturity for new commitments (years) | 5.59 years | 6.18 years | -0.59 years | | % of new debt investments at floating rates (%) | 100.00% | 100.00% | 0.00% | | Weighted average interest rate of new commitments (%) | 8.52% | 10.19% | -1.67% | | Weighted average spread over reference rate of new floating rate commitments (%) | 4.21% | 4.81% | -0.60% | | Weighted average interest rate on long-term investments sold/paid down (%) | 8.33% | 7.99% | 0.34% | - New investments funded in Q1 2025 primarily consisted of **$97.4 million** in first-lien senior secured debt investments and **$6.9 million** in common stock[29](index=29&type=chunk) - Sales and repayments in Q1 2025 were predominantly from first-lien senior secured debt investments (**$138.0 million**)[29](index=29&type=chunk) [Liquidity and Capital Resources](index=2&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company held $2.9 million in cash and $229.5 million in available liquidity against $20.2 million in undrawn investment commitments Liquidity and Capital Resources Overview | Metric | As of March 31, 2025 | As of December 31, 2024 | | :------------------------------------ | :------------------- | :-------------------- | | Cash and cash equivalents | $2.9 million | $2.8 million | | Total aggregate principal debt outstanding | $774.5 million | N/A | | Available liquidity (cash + undrawn credit) | $229.5 million | N/A | | Undrawn investment commitments | $20.2 million | $21.6 million | [Recent Developments](index=2&type=section&id=Recent%20Developments) The Board declared a Q2 2025 base dividend of $0.36 per share, payable July 14, 2025, with an additional supplemental dividend expected - On May 07, 2025, PSBD's Board of Directors declared a Q2 2025 regular base dividend of **$0.36 per share**, payable on July 14, 2025, to shareholders of record as of June 27, 2025[9](index=9&type=chunk) - The company expects to announce an additional quarterly supplemental dividend distribution for the second quarter of 2025 in June[9](index=9&type=chunk) [Additional Information](index=4&type=section&id=Additional%20Information) [About Palmer Square Capital BDC Inc.](index=4&type=section&id=About%20Palmer%20Capital%20BDC%20Inc.) PSBD is an externally managed BDC aiming to maximize total return through corporate debt loans in syndicated and direct large-cap private credit - PSBD is an externally managed, non-diversified closed-end management investment company regulated as a BDC[12](index=12&type=chunk) - The company's investment objective is to maximize total return, comprising current income and capital appreciation[12](index=12&type=chunk) - PSBD primarily invests in corporate debt loans, including large private U.S. companies in the broadly syndicated loan market and direct large-cap private credit market, and to a lesser extent, other debt securities like CLO debt and equity[12](index=12&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) The press release contains forward-looking statements on future performance and dividends, subject to risks, not guarantees, and not updated unless legally required - The press release includes forward-looking statements about future base and supplemental dividend distributions and the prospects of portfolio companies[13](index=13&type=chunk) - These statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially[13](index=13&type=chunk) - PSBD undertakes no duty to update any forward-looking statement unless required by law[13](index=13&type=chunk) [Earnings Conference Call & Contacts](index=4&type=section&id=Earnings%20Conference%20Call%20%26%20Contacts) An earnings conference call is scheduled for May 07, 2025, at 1:00 pm ET, with online registration and contact details provided - A conference call to review financial performance and conduct a Q&A session will be held on Wednesday, May 07, 2025, at 1:00 pm ET[11](index=11&type=chunk) - Participants can register online via the Palmer Square Investor Relations website, and a replay will be available after the event[11](index=11&type=chunk) - Contact details for investor relations (Matt Bloomfield and Jeremy Goff) and media (Josh Clarkson of Prosek Partners) are provided[14](index=14&type=chunk)
Palmer Square Capital BDC Inc. (PSBD) Reports Q1 Earnings: What Key Metrics Have to Say
ZACKS· 2025-05-07 14:36
Core Insights - Palmer Square Capital BDC Inc. reported a revenue of $31.21 million for the quarter ended March 2025, reflecting a year-over-year decline of 10.3% and an EPS of $0.40, down from $0.52 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $32.5 million by 3.95%, while the EPS also missed the consensus estimate of $0.44 by 9.09% [1] Financial Performance - Investment income from non-controlled, non-affiliated investments showed varied results: Other income was $0.31 million against an estimate of $0.41 million, Dividend income was $0.57 million compared to an estimate of $0.58 million, and Interest income was $29.82 million versus an estimate of $30.83 million [4] - Over the past month, shares of Palmer Square Capital BDC Inc. returned +4%, while the Zacks S&P 500 composite increased by +10.6% [3]
Palmer Square Capital BDC Inc. (PSBD) Misses Q1 Earnings and Revenue Estimates
ZACKS· 2025-05-07 13:10
Financial Performance - Palmer Square Capital BDC Inc. reported quarterly earnings of $0.40 per share, missing the Zacks Consensus Estimate of $0.44 per share, and down from $0.52 per share a year ago, representing an earnings surprise of -9.09% [1] - The company posted revenues of $31.21 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 3.95%, and down from $34.79 million year-over-year [2] - Over the last four quarters, the company has not surpassed consensus EPS estimates and has topped consensus revenue estimates only twice [2] Stock Performance - Shares of Palmer Square Capital BDC Inc. have lost about 16.4% since the beginning of the year, compared to a decline of -4.7% for the S&P 500 [3] - The current consensus EPS estimate for the coming quarter is $0.43 on revenues of $32.01 million, and for the current fiscal year, it is $1.75 on revenues of $128.35 million [7] Industry Outlook - The Financial - SBIC & Commercial Industry, to which Palmer Square Capital BDC Inc. belongs, is currently in the bottom 37% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the company's stock performance may be influenced by these revisions [5]
Palmer Square Capital BDC(PSBD) - 2025 Q1 - Quarterly Report
2025-05-07 11:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 814-01334 Palmer Square Capital BDC Inc. (Exact name of registrant as specified in its charter) | Maryland | 84-3665200 | | --- | --- | | (State or Other Jurisdiction of | (I.R.S ...
Palmer Square Capital BDC(PSBD) - 2024 Q4 - Earnings Call Transcript
2025-02-28 22:25
Financial Data and Key Metrics Changes - Total investment income for Q4 2024 was $34.9 million, up 16.9% from $29.8 million in the prior year period [34] - Net investment income for Q4 2024 was $14.8 million or $0.45 per share, compared to $15.4 million or $0.58 per share for the same period last year [35] - NAV per share at the end of Q4 was $16.50, down from $16.61 at the end of Q3 2024 [36] Business Line Data and Key Metrics Changes - The total investment portfolio as of December 31, 2024, had a fair value of approximately $1.41 billion, reflecting a small increase of approximately 1.2% from $1.39 billion at the end of Q3 2024 [25] - New private credit loans comprised 17% of overall new investments, funded at a weighted average spread of 489 basis points over the reference rate [32] Market Data and Key Metrics Changes - The company reported an 11.6% yield as of December 31, 2024, which remains highly attractive by historical measures [23] - The weighted average total yield to maturity of debt and income-producing securities at fair value was 10.65% [30] Company Strategy and Development Direction - The company aims to maintain a competitive dividend yield while being disciplined in capital deployment for better opportunities in the future [40] - The investment philosophy focuses on delivering attractive risk-adjusted returns through a diversified portfolio that spans both liquid bank loans and private credit loans [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to navigate the evolving macroeconomic backdrop, emphasizing the importance of floating rate senior secured credit in the current environment [16][17] - The company is positioned to act quickly and efficiently when attractive opportunities arise, despite ongoing uncertainty around interest rates [12][20] Other Important Information - The Board and management team recalibrated the base dividend to $0.36 beginning in Q1 2025 to support NAV stability [28] - The company has a stock repurchase plan approved by the Board, allowing for the acquisition of up to $20 million of PSBD stock [39] Q&A Session Summary Question: Outlook for dividends and sustainability - Management indicated that the new dividend level was set conservatively based on various scenarios and the current deal environment [44][46] Question: Potential investment sales or prepayments outlook - Management noted elevated repayment and refinancing activity in Q4, with expectations for continued refinancing rather than new M&A activity in the near term [48][50] Question: Impact of cautious deal opportunities on leverage - Management confirmed that while they would not actively reduce leverage, they would be patient in waiting for more attractive investment opportunities [54] Question: Optimal mix between liquid investments and private credit loans - Management stated that they do not have a prescribed mix but will seek the best opportunities available at any given time [56] Question: Exposure to tariffs and potential impacts - Management assessed that tariff exposure in the portfolio is minimal, with a low single-digit percentage across the portfolio [65][66]
Palmer Square Capital BDC(PSBD) - 2024 Q4 - Annual Results
2025-02-28 11:13
Investment Income - Total investment income for Q4 2024 was $34.9 million, up from $29.8 million in Q4 2023, representing a 17.1% increase[4] - Net investment income for Q4 2024 was $14.8 million or $0.45 per share, compared to $15.4 million or $0.58 per share in Q4 2023, reflecting a decrease of 3.9% in income and 22.4% in per share earnings[4] - Investment income from non-controlled, non-affiliated investments rose to $143,513,299 in 2024, up from $112,223,607 in 2023, marking an increase of about 27.9%[26] - The company reported a net investment income of $62,600,382 for 2024, compared to $57,987,520 in 2023, reflecting an increase of approximately 8.8%[26] Asset and Liability Overview - As of December 31, 2024, total assets were $1.4 billion, and total net assets were $537.8 million[4] - Total assets increased to $1,431,042,759 in 2024 from $1,121,814,718 in 2023, representing a growth of approximately 27.6%[21] - Total liabilities increased to $893,197,790 in 2024 from $659,859,325 in 2023, reflecting a rise of approximately 35.3%[21] - The debt-to-equity ratio as of December 31, 2024, was 1.50x, slightly down from 1.52x as of September 30, 2024[4] Investment Activity - The principal amount of new investments funded in Q4 2024 was $171.8 million, with $176.4 million in aggregate principal amount in sales and repayments[8] - New investments totaled $773,809,544 in 2024, significantly higher than $273,733,424 in 2023, indicating a growth of about 183.5%[30] - The principal amount of investments sold or repaid was $468,762,595 in 2024, compared to $247,083,117 in 2023, which is an increase of approximately 89.7%[30] - The number of new investment commitments increased to 94 in 2024 from 67 in 2023, representing a growth of approximately 40.3%[30] - The weighted average interest rate of new investment commitments was 9.12% in 2024, down from 10.22% in 2023[30] Portfolio Composition - The portfolio consisted of 85.7% first lien senior secured debt investments, with a total fair value of investments at approximately $1.4 billion[7] - The weighted average total yield to maturity of debt and income-producing securities at fair value was 10.65% as of December 31, 2024[8] Dividend Information - The company declared a first quarter regular base dividend of $0.36 per share, payable on April 10, 2025, with a supplemental dividend expected to be announced in March[10] Net Asset Value - Net asset value (NAV) per share decreased to $16.50 as of December 31, 2024, down from $17.04 at the end of 2023, a decline of 3.2%[16] - The net asset value per common share decreased to $16.50 in 2024 from $17.04 in 2023[24] Unfunded Commitments - The company had $21.6 million of unfunded commitments to provide debt financing to its portfolio companies as of December 31, 2024, compared to $20.1 million in 2023[22] Realized and Unrealized Losses - Total net realized and unrealized losses for Q4 2024 were $2.9 million, contrasting with gains of $6.6 million in Q4 2023[4]
Compared to Estimates, Palmer Square Capital BDC Inc. (PSBD) Q4 Earnings: A Look at Key Metrics
ZACKS· 2025-02-27 15:36
Core Insights - Palmer Square Capital BDC Inc. (PSBD) reported revenue of $34.87 million for the quarter ended December 2024, reflecting a 17% increase year-over-year [1] - The earnings per share (EPS) for the quarter was $0.46, down from $0.58 in the same quarter last year [1] - The reported revenue was slightly below the Zacks Consensus Estimate of $34.89 million, resulting in a revenue surprise of -0.05% [1] - The company experienced an EPS surprise of -4.17%, with the consensus EPS estimate being $0.48 [1] Performance Metrics - Investment income from non-controlled, non-affiliated investments showed varied results: - Other income was reported at $0.28 million, below the average estimate of $0.40 million [4] - Dividend income was $0.66 million, compared to the average estimate of $0.70 million [4] - Interest income was reported at $33.25 million, slightly below the average estimate of $33.65 million [4] - Over the past month, shares of Palmer Square Capital BDC Inc. returned -1.9%, compared to a -2.2% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]