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Crescent Capital BDC (CCAP)
NASDAQ:CCAP
Earnings Data
Report Date
May 13, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.42Last Year’s EPS
0.45Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a balanced but constructive view: management highlighted durable portfolio fundamentals (diversified, predominantly first-lien, sponsor-backed, strong interest coverage), proactive balance-sheet actions (extended debt maturities, ample liquidity), meaningful spillover income and continued origination activity. Headwinds included modest NAV decline, a small uptick in nonaccruals (partially remediated in January), and pressure on yields and NII from lower base rates. Management is proactively reviewing dividend and fee frameworks to bolster long-term earnings durability, and expects to provide a fuller update next quarter.Company Guidance
Net Investment Income and Dividend Coverage
Reported net investment income (NII) of $0.45 per share in Q4 2025 vs $0.46 prior quarter (≈-2.2%). NII covered the base dividend by 107%; Board declared quarterly cash dividend of $0.42 per share for Q1 2026.
Strong Spillover Income
Spillover income approximately $1.16 per share, nearly 3x the base dividend, providing meaningful supplemental support to earnings during the rate transition.
Portfolio Size and Diversification
Investment portfolio at fair value ≈ $1.6 billion across 184 companies; average investment ≈0.6% of portfolio. 91% first lien, 99% sponsor-backed, weighted average LTV at origination ≈40%, and 71% of portfolio includes covenants.
Deployment and Deal Economics
Gross deployment in Q4 totaled $71 million (5 new platform investments totaling $29 million; $42 million incremental investments). New platform investments carried a weighted average spread of ~490 bps, with Crescent acting as lead or agent.
Yield and Coverage Trends
Weighted average yield on income-producing securities at cost fell by 40 bps Q/Q to 10% (driven by lower base rates), while weighted average interest coverage improved to 2.2x, indicating underlying portfolio earnings resiliency.
Capital Structure and Liquidity Enhancements
Proactively priced $185 million of senior unsecured notes (delayed draw); first $135 million closed in Feb, final $50 million to fund in May. Pro forma, >90% of committed debt now matures 2028 or later, extending maturity profile.
Prudent Leverage and Liquidity
Net debt-to-equity ~1.20x (quarter-end debt-to-equity 1.25x, or 1.2x net of cash), inside target range (1.1x–1.3x). Available liquidity includes ~$242 million undrawn capacity and >$30 million cash.
Active Origination Platform
Crescent private credit platform committed >$6.5 billion in 2025 (including >$1.7 billion in Q4). Existing portfolio served as an active origination channel with add-ons representing over half of transactions.
Realized Gains and Nonaccrual Remediation
Recorded a realized gain from sale of a previously nonaccrual investment (MTS) sold above cost in Q4. Subsequent January actions (one restructure, one sale) materially reduced pro forma nonaccruals.
Sector Expertise—Software & Services
Software & services represent ~20% of the portfolio; long track record (15+ years) with disciplined, cash-flow driven underwriting (first lien only, no ARR loans), and portfolio showing revenue/EBITDA growth and deleveraging.
CCAP 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
CCAP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $13.27 | $13.22 | -0.38% |
Nov 12, 2025 | $14.23 | $13.59 | -4.50% |
Aug 13, 2025 | $14.29 | $14.76 | +3.29% |
May 14, 2025 | $15.62 | $14.94 | -4.35% |
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 Crescent Capital BDC (CCAP) report earnings?
Crescent Capital BDC (CCAP) is schdueled to report earning on May 13, 2026, Before Open (Confirmed).
What is Crescent Capital BDC (CCAP) earnings time?
Crescent Capital BDC (CCAP) earnings time is at May 13, 2026, Before Open (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 CCAP EPS forecast?
CCAP EPS forecast for the fiscal quarter 2026 (Q1) is 0.42.