Great Elm Capital reports Q1 NII 40c, consensus 38c

Net assets were $132.3M, or $11.46 per share, on March 31, as compared to $136.1M, or $11.79 per share, on December 31, 2024. “The decrease in NAV was primarily driven by unrealized losses in certain investment positions marked down amid broader market volatility, which we expect would reverse over time assuming market conditions stabilize,” the company stated. GECC‘s asset coverage ratio was 163.8% as of March 31, 2025, as compared to 169.7% as of December 31, 2024. “We are pleased to report strong first quarter results, generating record total investment income of $12.5 million, driven by cash flows from our CLO JV and income from new investments, with NII that exceeded our increased quarterly distribution,” said Matt Kaplan, GECC’s CEO. “Looking ahead, we expect NII to increase in the second quarter, and we remain well positioned to cover our distributions over the course of 2025. We continue to closely monitor the uncertain macro environment and will look to thoughtfully deploy capital into opportunities with compelling risk-adjusted returns, with a focus on creating meaningful value for our shareholders.”