Barings BDC (BBDC)
NYSE:BBDC
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Earnings Data
Report Date
Aug 12, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.24Last Year’s EPS
0.28Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveys a largely positive and constructive tone: the company demonstrated resilience with strong portfolio yields (10.1%), a stable dividend ($0.26), conservative leverage (1.17x), ample liquidity (> $600M), low non-accruals relative to peers, and progress on winding down legacy Sierra assets (CSA up ≈ $5.3M and $16.4M returned). Headline negatives were modest: a small NAV decline (-0.6%), NII decline (-7.4% QoQ), $10.8M of realized losses, and three smaller non-accruals. Management emphasized disciplined underwriting, portfolio rotation, and balance sheet strength to mitigate industry headwinds. Overall, highlights materially outweigh the lowlights and the company appears well positioned to manage near-term volatility.Company Guidance
Stable Quarterly Dividend and Attractive Yield
Board declared Q2 dividend of $0.26 per share, unchanged from prior quarter; annualized dividend equals a ~9.4% yield on NAV of $11.02.
High Portfolio Yield
Weighted average yield on debt and other income-producing securities at fair value was 10.1%, supporting recent dividend levels.
Strong Liquidity and Dry Powder
Ended Q1 with ~$95 million cash and foreign currency plus over $530 million available on credit facility, totaling well over $600 million of available financing capacity for deployment.
Conservative, Well-Structured Portfolio
75% of portfolio in secured investments with ~70% first-lien; weighted average interest coverage of 2.6x (above industry averages); risk ratings 4 & 5 combined at 6% (down from 7%).
Low Non-Accruals Relative to Peers
Non-accruals excluding Sierra CSA were 0.6% of the portfolio at fair value (up from 0.2% prior quarter but still modest); inclusive non-accruals ~1% at fair value and ~2% at cost — among the lowest in the industry.
Sierra CSA Progress and Redeployable Capital
Sierra CSA valuation increased by ~$5.3 million to $65.8 million (approx +8.8% QoQ); Sierra JV exited remaining investments and returned $16.4 million; expect potential CSA termination this year, which could free ~ $65 million for redeployment.
Robust Balance Sheet and Funding Profile
Net leverage at 1.17x (within target range 0.9x–1.25x), a high proportion (~80%) of long-term unsecured debt, and a new 30 million share repurchase authorization to opportunistically return capital.
Active Legacy Portfolio Rotation
Originated $109 million and exited legacy Sierra/MVC positions of approximately $19 million during the quarter, reflecting continued rotation toward Barings-originated middle market assets.
Expense and Funding Efficiency
Interest expense declined approximately 10% quarter-over-quarter due to lower average debt outstanding; base management fee stable and incentive fee accrual lower this quarter.
Executive Leadership and Discipline Emphasis
New CEO (Tom McDonald) emphasized nearly 30 years of credit experience, underwriting discipline, and focus on senior secured middle-market lending as a differentiator amid increasing manager dispersion.
BBDC Earnings History
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 |
|---|---|---|---|
May 07, 2026 | $8.90 | $8.87 | -0.34% |
Feb 19, 2026 | $8.80 | $8.90 | +1.10% |
Nov 06, 2025 | $8.47 | $8.44 | -0.44% |
Aug 07, 2025 | $8.38 | $8.75 | +4.45% |
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 Aug 12, 2026, After Close (Confirmed).
What is Barings BDC (BBDC) earnings time?
Barings BDC (BBDC) earnings time is at Aug 12, 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 (Q2) is 0.24.