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Golub Capital BDC, Inc. Announces Fiscal Year 2026 Second Quarter Financial Results

GBDC
  • Golub Capital BDC, Inc. announced financial results for the second fiscal quarter ended March 31, 2026, including a quarterly distribution declaration of $0.33 per share payable on June 29, 2026, to stockholders of record as of June 15, 2026.
  • Net investment income per share for the quarter was $0.33, while adjusted net investment income per share was $0.34 after excluding purchase premium amortization.
  • Earnings per share for the quarter resulted in a loss of $0.18, driven primarily by a net realized and unrealized loss of $0.51 per share.
  • Net asset value per share decreased to $14.35 at March 31, 2026, from $14.84 at December 31, 2025, due to credit spread widening and fair value adjustments.
  • The investment portfolio fair value declined to $8,317.2 million at March 31, 2026, from $8,639.2 million at December 31, 2025, with 87.0% of investments classified as "One stop" loans.
  • Approximately 69% of the adjusted net realized and unrealized loss per share was attributed to fair value adjustments on investments rated IPR 4 and IPR 5, where the average price declined to 98.5%.
  • The Company repurchased approximately 2.24 million shares for $27.8 million during the quarter ended March 31, 2026, and an additional 0.7 million shares for $8.4 million between April 1, 2026, and May 4, 2026.
  • The Golub Capital Employee Grant Program Rabbi Trust purchased approximately 1.5 million shares for $18.7 million during the quarter to fund employee incentive compensation.
  • Total assets stood at $8,529.7 million at March 31, 2026, with $4,723.9 million in debt outstanding and a GAAP leverage ratio of 1.27x.
  • Remaining availability on the revolving credit facility with JPMorgan was approximately $1,049.8 million, and $300.0 million remained available on the unsecured line of credit with GC Advisors.
  • An earnings conference call is scheduled for May 5, 2026, at 11:00 am Eastern Time to discuss the quarterly results.