Portman Ridge Finance (PTMN) Q1 2025 Earnings Call May 09, 2025 10:00 AM ET Company Participants Ted Goldthorpe - CEO & DirectorPatrick Schafer - Chief Investment Officer & DirectorBrandon Satoren - Chief Financial Officer, Secretary & TreasurerErik Zwick - Managing Director, Equity ResearchChristopher Nolan - Senior VP - Equity ResearchSteven Martin - President Conference Call Participants None - Analyst Operator Welcome to Apartment Ridge Finance Corporation's First Quarter Ended 03/31/2025 Earnings Confe ...

Portman Ridge Finance (PTMN) Q1 2025 Earnings Call May 09, 2025 10:00 AM ET Speaker0 Welcome to Apartment Ridge Finance Corporation's First Quarter Ended 03/31/2025 Earnings Conference Call. An earnings press release was distributed yesterday, 05/08/2025, after the close of the market. A copy of the release, along with an earnings presentation, is available on the company's website at www.courtmanridge.com in the Investor Relations section and should be reviewed in conjunction with the company's Form 10 Q f ...

The market has been rebounding during earnings season as tariff and trade pressure seem to be less concerning than they once were. The Fed kept rates unchanged but is expected to start cutting this summer. I am looking for opportunities to front-runI am focused on growth and dividend income. My personal strategy revolves around setting myself up for an easy retirement by creating a portfolio which focuses on compounding dividend income and growth. Dividends are an intricate part of my strategy as I have str ...

Group 1 - The article discusses the performance of Gladstone Capital (NASDAQ: GLAD) and the impact of interest rates on its net investment income, suggesting a pause in adding to GLAD positions due to concerns over declining interest rates [1] - The author emphasizes a long-term investment strategy focused on stocks with strong growth potential and stable dividend yields, highlighting the importance of patience in allowing investments to compound over time [1] - The focus is primarily on financial stocks, including banks and Business Development Companies (BDCs), which are selected based on strong fundamentals and a consistent history of dividend payouts [1]

Great Elm Capital (GECC) Q1 2025 Earnings Call May 06, 2025 08:30 AM ET Company Participants Peter Sceusa - Investor Relations Senior AssociateMatt Kaplan - CEO & PresidentKeri Davis - CFO & TreasurerMichael Keller - President - Specialty Finance BusinessMickey Schleien - Managing Director, Equity ResearchErik Zwick - Managing Director, Equity ResearchMitchel Penn - Managing Director Operator Greetings and welcome to the Great Elm Capital Corp First Quarter twenty twenty five Financial Results Call. At this ...

Group 1 - The article presents a bullish perspective on investing in high-quality Business Development Companies (BDCs), highlighting their attractive double-digit yields and uncorrelated income streams [1] - Roberts Berzins has over a decade of experience in financial management, focusing on helping top-tier corporates with financial strategies and large-scale financings [1] - Berzins has contributed to the institutionalization of the REIT framework in Latvia, aiming to enhance the liquidity of pan-Baltic capital markets [1] Group 2 - The article mentions Berzins' involvement in developing national SOE financing guidelines and frameworks to channel private capital into affordable housing [1] - Berzins holds a CFA Charter and an ESG investing certificate, indicating a strong background in investment analysis and sustainable investing [1] - His experience includes an internship at the Chicago Board of Trade, showcasing a diverse financial background despite residing in Latvia [1]

Earnings season has reached the business development sector and one of the first BDCs that reported earnings for Q1 2025 was Ares Capital Corp. (NASDAQ: ARCC ) , the biggest BDC in the industry by market capitalization.A financial researcher and avid investor with a keen eye for innovation and disruption, as well as growth buy-outs and value stocks. Keeping an eye on the pace of high tech and early growth companies, I write about current events and the biggest news surrounding the industry, and strive to pr ...

Sixth Street Specialty Lending (TSLX) Q1 2025 Earnings Call May 01, 2025 08:30 AM ET Company Participants Cami VanHoard - Head of Investor RelationsJoshua Easterly - Chairman, CEO & Co-CIO of the AdviserRobert Stanley - Vice PresidentIan Simmonds - CFOFinian O'shea - Director, WFS ResearchBrian Mckenna - Director - Equity ResearchMickey Schleien - Managing Director, Equity ResearchKenneth Lee - Vice PresidentMaxwell Fritscher - Equity Research AssociateMelissa Wedel - Vice President, U.S. Equities ResearchR ...

Sixth Street Specialty Lending (TSLX) Q1 2025 Earnings Call May 01, 2025 08:30 AM ET Speaker0 Good day, and thank you for standing by. Welcome to the Sixth Street Specialty Lending, Inc. First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear automated message if your han ...

Financial Data and Key Metrics Changes - The company reported GAAP net income per share of $0.56 for Q1 2025, down from $0.76 in Q1 2024 and $0.55 in the previous quarter [19] - Core earnings per share were $0.50, compared to $0.59 a year ago and $0.55 in the prior quarter, primarily due to a decline in portfolio yields [19][20] - The total portfolio at fair value increased to $27.1 billion from $26.7 billion in the previous quarter and $23.1 billion a year ago [21] Business Line Data and Key Metrics Changes - The company originated $3.5 billion in new investment commitments during Q1 2025, with approximately 60% coming from existing borrowers [26] - The weighted average yield on debt and other income-producing securities at amortized cost was 11.1% at the end of Q4 2024, down to 10.1% by the end of Q1 2025 [20] - The average debt to EBITDA ratio for portfolio companies was 5.7 times, the lowest since Q1 2020, indicating improved leverage [29] Market Data and Key Metrics Changes - New transaction activity in the liquid loan market dropped significantly as banks became more cautious, while the direct lending market remained stable [10][11] - The company noted increased volatility and widening spreads in secondary loan markets, with banks transitioning to a risk-off position [10][11] - The company has a significant amount of available capital totaling nearly $6.8 billion, positioning it well for new investments [14] Company Strategy and Development Direction - The company aims to capitalize on opportunities arising from market volatility, leveraging long-standing relationships to source deals [12][13] - The focus remains on service-oriented businesses that are more insulated from tariff impacts, with proactive engagement with portfolio companies to mitigate risks [15][17] - The company declared a quarterly dividend of $0.48 per share, marking the 63rd consecutive quarter of stable or increasing dividends [17][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating future market conditions, citing a strong investment team and a healthy portfolio [12][13] - The company anticipates a slower M&A environment but believes long-term drivers for M&A remain intact [11] - Management highlighted the importance of proactive communication with market participants to ensure readiness for new opportunities [12] Other Important Information - The company has a low non-accrual rate of 1.5% at cost, down from 1.7% in the previous quarter, indicating strong credit quality [29] - The company has a significant taxable income spillover estimated at $883 million or $1.29 per share available for distribution in 2025 [24] Q&A Session Summary Question: Impact of private BDCs on pricing and competitive position - Management noted that spreads have already begun to widen, indicating a shift in the market dynamics, and expressed confidence in outperforming competitors [35][36] Question: Analysis of tariff exposure - Management conducted a thorough analysis of portfolio companies' exposure to tariffs, finding a mid-single-digit percentage of companies potentially impacted [39][41] Question: Outlook on M&A deal volume - Management acknowledged the slowdown in M&A activity but emphasized their ability to capture market share in the current environment [45][47] Question: Strategies for managing rising costs of liabilities - Management highlighted their historical ability to maintain consistent ROE and mentioned potential strategies such as leveraging and utilizing spillover income [51][54] Question: Backlog and deal closure uncertainty - Management indicated that while there may be some uncertainty regarding the backlog due to market volatility, they remain optimistic about closing existing deals [75][77]