Barings BDC (BBDC) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 30, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.25

Last Year’s EPS

0.25

Same Quarter Last Year

Analyst Consensus

―

Based on 0 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 19, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed a cautiously constructive tone: key credit and liquidity metrics are strong (stable NAV, 96% Barings-originated portfolio, 2.4x interest coverage, net leverage 1.15x inside target), legacy holdings have been materially reduced, and capital-return initiatives (dividend and repurchases) continue. Offsetting these positives are meaningful declines in quarterly and annual NII driven by lower base rates and portfolio sales/repayments, a forecast that dividend levels may compress in 2026, and remaining legacy CSA/JV complexity and modest realized losses. Overall, the balance of evidence points to a company with durable credit performance and solid balance-sheet positioning that faces near-term earnings pressure from lower rates and ongoing portfolio rotation.

Company Guidance

The call’s guidance was measured: management reaffirmed a through‑the‑cycle posture while warning that declining base rates are likely to put downward pressure on net investment income and that the regular dividend (current quarterly $0.26/$1.04 annual) “may decrease” in 2026; however, Q4 NAV was $11.09, Q4 NII was $0.27 (vs. $0.32 prior quarter; $1.12 for 2025 vs. $1.24 in 2024), Q4 NII covered the $0.26 regular dividend and over‑earned it by $0.01, and spillover income of roughly $0.80 per share (≈75% of the regular dividend) provides flexibility. Portfolio and balance‑sheet metrics underpinning the view include a weighted average yield at fair value of 9.6%, weighted average interest coverage of 2.4x, Barings‑originated positions at 96% of the portfolio (up from 76% in 2022), non‑accruals (ex‑Sierra CSA) at 0.2% (0.4% prior), risk‑rating 4+5 at 7%, regulatory net leverage of 1.15x (down from 1.26x; target 0.90–1.25x), ~84% of debt unsecured, and diversified liquidity/near‑term maturities limited. Operational actions and capital‑allocation guidance include continued legacy portfolio rotation (≈$50M Sierra exits in Q4; Sierra generated $24.3M sales/repayments and $21.9M JV return of capital in Q4; Sierra CSA valuation rose ~$7.7M to $60.5M), repayment of $112.5M private‑placement notes in 2025 (and $50M repaid Feb 26), issuance of $300M senior unsecured notes, share repurchases (450k in Q4; >700k in 2025; $0.02/share NAV benefit) and a new $30M 2026 buyback; management said deployment will remain selective, with potential tactical opportunities in BSLs/CLOs and continued focus on core middle‑market, first‑lien, senior‑secured investments.

Stable Net Asset Value

NAV per share was $11.09 at quarter end, essentially unchanged from the prior quarter ($11.10), representing less than a 0.1% quarter-over-quarter decline.

Dividend Coverage and Yield

Quarterly net investment income (NII) of $0.27 per share covered the declared quarterly dividend of $0.26 per share (Q1 dividend), over-earning by $0.01. The declared dividend equates to a 9.4% yield on NAV ($11.09).

Portfolio Yield and Interest Coverage

Weighted average yield at fair value was 9.6% (slightly down due to lower base rates). Weighted average interest coverage remained strong at 2.4x, above industry averages and consistent with the prior quarter.

High Share of Barings-Originated Assets & Legacy Reduction

Barings-originated positions comprised 96% of the portfolio at fair value (up from 76% at the beginning of 2022). The company accelerated rotation of legacy holdings, exiting approximately $50.0M of legacy Sierra/MVC positions in the quarter and reducing the Sierra portfolio by roughly 75% year-over-year.

Improved Credit Metrics and Low Non-Accruals

Risk ratings 4 and 5 combined were 7% (unchanged q/q). Non-accruals excluding Sierra CSA fell to 0.2% of assets at fair value from 0.4% in the prior quarter (a 50% reduction). During the quarter BBDC exited one non-accrual, restructured one (removed from non-accrual), and moved one asset onto non-accrual.

Strong Liquidity and Diversified Funding

Net regulatory leverage was 1.15x (down from 1.26x at 9/30), inside the long-term target range of 0.90x–1.25x. The company repaid $112.5M of private placement notes in 2025, issued $300M senior unsecured notes in September, maintains ~84% of outstanding debt as unsecured, and has undrawn revolver capacity plus JV liquidity.

Capital Return and Share Repurchases

Share repurchases contributed $0.02 per share to NAV in 2025 (over 700,000 shares repurchased for the year; ~450,000 in Q4). The Board authorized a new $30.0M repurchase program for 2026.

Strategic / High-Return Platform Investments

Strategic platform investments (Eclipse Business Capital and Rocade Holdings) and the Jocassee JV continue to generate meaningful income and diversification. Management intends to prioritize redeploying proceeds into productive assets including potential increased activity at Jocassee.

Barings BDC (BBDC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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BBDC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2026	2026 (Q1)	0.25 / -	0.25	―	―	―
Feb 19, 2026	2025 (Q4)	0.26 / 0.27	0.28	-3.57% (-0.01)
Nov 06, 2025	2025 (Q3)	0.27 / 0.32	0.29	10.34% (+0.03)
Aug 07, 2025	2025 (Q2)	0.26 / 0.28	0.4	-30.00% (-0.12)
May 08, 2025	2025 (Q1)	0.28 / 0.25	0.28	-10.71% (-0.03)
Feb 20, 2025	2024 (Q4)	0.29 / 0.28	0.31	-9.68% (-0.03)
Nov 06, 2024	2024 (Q3)	0.30 / 0.29	0.31	-6.45% (-0.02)
Aug 07, 2024	2024 (Q2)	0.30 / 0.40	0.31	29.03% (+0.09)
May 07, 2024	2024 (Q1)	0.30 / 0.28	0.25	12.00% (+0.03)
Feb 22, 2024	2023 (Q4)	0.30 / 0.31	0.34	-8.82% (-0.03)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BBDC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 19, 2026	$9.08	$9.18	+1.10%
Nov 06, 2025	$8.74	$8.70	-0.46%
Aug 07, 2025	$8.64	$9.03	+4.51%
May 08, 2025	$7.91	$7.78	-1.64%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Barings Bdc (BBDC) report earnings?

Barings Bdc (BBDC) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).

What is Barings Bdc (BBDC) earnings time?

Barings Bdc (BBDC) earnings time is at Apr 30, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is BBDC EPS forecast?

BBDC EPS forecast for the fiscal quarter 2026 (Q1) is 0.25.