Financial Performance - Crescent Capital BDC reported net investment income of $0.45 per share and net income of $0.11 per share for Q1 2025, compared to $0.55 and $0.27 per share in Q4 2024, respectively[2][4]. - Investment income decreased to $42.1 million in Q1 2025 from $46.4 million in Q4 2024, primarily due to a decline in interest income[6]. - Total investment income for Q1 2025 was $42,129 million, a decrease of 16.4% from $50,361 million in Q1 2024[15]. - Net investment income for Q1 2025 was $16,621 million, down 28.7% from $23,317 million in Q1 2024[15]. - The net increase in net assets resulting from operations was $3,904 million for Q1 2025, significantly lower than $28,005 million in Q1 2024[15]. - Net investment income per share for Q1 2025 was $0.45, a decrease of 28.6% from $0.63 in Q1 2024[15]. - Total expenses for Q1 2025 were $25,059 million, down 6.3% from $26,752 million in Q1 2024[15]. Investment Activity - Total investments at fair value increased to $1,620.7 million as of March 31, 2025, from $1,598.9 million as of December 31, 2024, with investments in 191 portfolio companies[4][5]. - Crescent Capital BDC invested $104.7 million across 10 new portfolio companies in Q1 2025, compared to $127.1 million across 14 new companies in Q4 2024[5]. - The net change in unrealized losses was $(6.2) million for Q1 2025, compared to $(7.3) million in Q4 2024[4]. - Net realized and unrealized losses on investments totaled $12,717 million in Q1 2025, compared to gains of $4,349 million in Q1 2024[15]. Income and Yield - The weighted average yield on income-producing securities decreased to 10.4% in Q1 2025 from 10.9% in Q4 2024[4]. - Interest income from non-controlled non-affiliated investments decreased to $36,978 million in Q1 2025 from $43,564 million in Q1 2024, a decline of 15.1%[15]. Dividends and Cash Position - The company declared a second quarter 2025 regular cash dividend of $0.42 per share, consistent with the previous quarter[3]. - Cash and cash equivalents, along with restricted cash, totaled $30.5 million as of March 31, 2025[8]. Debt and Equity - The company's debt to equity ratio was 1.25x as of March 31, 2025, with total liabilities of $939.4 million[8][13]. - The weighted average shares outstanding remained constant at 37,061,547 for both Q1 2025 and Q1 2024[15]. Company Overview - Crescent BDC is focused on providing capital solutions to middle market companies with strong growth prospects[16]. - Crescent BDC has $46 billion in assets under management, emphasizing its significant market presence[17].
Crescent Capital BDC(CCAP) - 2025 Q1 - Quarterly Results