Crescent Capital Bdc, Inc. (CCAP)
NASDAQ:CCAP
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Earnings Data
Report Date
Aug 12, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.38Last Year’s EPS
0.46Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a balanced mix of proactive, constructive strategic actions and ongoing credit challenges. Positives included permanent fee reductions to improve long-term earnings resilience, a reset dividend framework with special dividends to address spillover, solid liquidity and a robust platform pipeline, and continued portfolio-level metrics that remained largely stable (86% rated 1 or 2; interest coverage 2.2x). Offsetting these were meaningful near-term headwinds: NAV declined ~4.35% QoQ, core NII declined ~15.6% from the prior quarter (to $0.38 before the waiver), nonaccruals increased (to 5.7% of cost and 3.6% of fair value) with concentration in select health care assets, and leverage sat marginally above target. Management emphasized conservative mark-to-market practices and active portfolio management. Overall, the positives (structural fee/dividend changes, liquidity, deployment opportunities and platform strength) are balanced by credit-related pressures and earnings softness, resulting in a neutral near-term outlook but with steps aimed at longer-term stabilization.Company Guidance
Fee Structure Reduction
Management permanently reduced the base management fee from 1.25% to 1.00% and the incentive fee from 17.5% to 15% effective April 1, 2026, restoring CCAP's fee structure toward the lower end of peers to improve long-term earnings consistency.
Reported and Core NII (with Incentive Fee Waiver)
Reported net investment income (NII) was $0.42 per share for the quarter, which includes a voluntary $0.04 per share incentive fee waiver to ensure full dividend coverage. Core NII before the waiver was $0.38 per share (down from $0.45 in the prior quarter, a decline of $0.07 or ~15.6%).
Dividend Framework Reset and Special Dividends
Board reset the quarterly base dividend from $0.42 to $0.34 per share (a reduction of $0.08 or ~19.0%) and approved three $0.03 per share special dividends to be paid quarterly in calendar 2026 to address the spillover balance.
Strong Liquidity and Financing Capacity
Investment portfolio at fair value totaled approximately $1.6 billion. Available liquidity included roughly $206 million of capacity plus $27 million of cash. Management also announced an expected $100 million upsize to the SPV ABL facility to be closed before the June quarter end (partly to refinance upcoming May unsecured maturities).
Portfolio Quality Metrics Remain Largely Stable
Approximately 86% of investments remained rated 1 or 2 (unchanged quarter-over-quarter). Weighted average portfolio risk rating was ~2.1 and weighted average interest coverage modestly improved to 2.2x, indicating resilience across the majority of the portfolio.
Active Deployment into Attractive Opportunities
Gross deployment totaled $115 million in the quarter, including $57 million across 14 new platform investments at a weighted average spread of ~500 basis points (Crescent led 93% of those transactions). Exits/sales/repayments were ~$93 million, yielding net deployment of ~$22 million. Crescent platform activity remained robust with ~$2.6 billion of private credit commitments in Q1 and ~$7.5 billion LTM pipeline.
Strategic Alignment with Sun Life Strengthens Capital Partnership
Sun Life completed acquisition of Crescent Capital (making it a wholly owned subsidiary of SLC Management). Sun Life holds ~6% of CCAP shares outstanding, ~$72 million of CCAP unsecured notes, and has invested/committed over $1.5 billion across Crescent strategies since 2021, reinforcing a long-term institutional alignment.
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 |
|---|---|---|---|
May 13, 2026 | $13.07 | $11.99 | -8.26% |
Feb 25, 2026 | $12.82 | $12.77 | -0.37% |
Nov 12, 2025 | $13.35 | $12.75 | -4.49% |
Aug 13, 2025 | $13.41 | $13.85 | +3.32% |
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, Inc. (CCAP) report earnings?
Crescent Capital Bdc, Inc. (CCAP) is schdueled to report earning on Aug 12, 2026, Before Open (Confirmed).
What is Crescent Capital Bdc, Inc. (CCAP) earnings time?
Crescent Capital Bdc, Inc. (CCAP) earnings time is at Aug 12, 2026, Before Open (Confirmed).
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What is CCAP EPS forecast?
CCAP EPS forecast for the fiscal quarter 2026 (Q2) is 0.38.