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

GBDC
  • Golub Capital BDC, Inc. (NASDAQ: GBDC) reported financial results for the third fiscal quarter ended June 30, 2026, declaring a quarterly distribution of $0.33 per share payable on September 29, 2026 to stockholders of record as of September 14, 2026.
  • Net investment income per share remained consistent at $0.33 for the quarter ended June 30, 2026, compared to $0.33 in the prior quarter, with adjusted net investment income per share at $0.34.
  • The company reported a net realized/unrealized loss per share of $(0.11) for the quarter, primarily driven by unrealized depreciation on underperforming portfolio companies & realized losses from restructuring, partially offset by gains on equity exits & reversals of prior depreciation.
  • Earnings per share for the quarter were $0.22, a significant improvement from the $(0.18) loss reported in the quarter ended March 31, 2026.
  • Net asset value (NAV) per share decreased to $14.25 at June 30, 2026 from $14.35 at March 31, 2026.
  • The investment portfolio fair value declined to $8,196.4 million at June 30, 2026 from $8,317.2 million at March 31, 2026, with holdings in 424 portfolio companies.
  • During the three months ended June 30, 2026, the company repurchased approximately 1.11 million shares for $14.4 million, & from July 1, 2026 through August 3, 2026, repurchased approximately 0.4 million shares for $4.9 million.
  • The Golub Capital Employee Grant Program Rabbi Trust purchased approximately $31.4 million worth of shares during the quarter to fund employee incentive compensation.
  • The company issued $500.0 million of unsecured notes maturing in 2031 with a fixed interest rate of 6.250% on May 27, 2026, & amended its JPMorgan revolving credit facility to extend the maturity date to July 2, 2031 on July 2, 2026.
  • As of June 30, 2026, the company had $4,561.8 million in debt outstanding, a GAAP leverage ratio of 1.24x, & remaining availability of approximately $1,725.9 million on its JPMorgan revolving credit facility.
  • Approximately 84.9% of the portfolio's fair value was rated with an internal performance rating of 4, indicating acceptable risk levels similar to origination expectations.
  • An earnings conference call is scheduled for Tuesday, August 4, 2026, at 10:00 am Eastern Time to discuss these results.