Great Elm Capital Corporation (GECC)
NASDAQ:GECC
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.36Last Year’s EPS
0.51Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a constructive operational response to recent headwinds: management has prioritized protecting and rebuilding NAV through decisive actions — fee waivers, targeted deleveraging, a shift toward first‑lien secured positions, opportunistic share repurchases, and improved coverage/leverage metrics. These positives are counterbalanced by a quarter‑over‑quarter NAV decline driven by unrealized CLO and one private investment loss, CLO market volatility, and an underlying earnings run‑rate that benefits materially from incentive fee waivers. On balance, the company has strengthened its liquidity and capital structure and put in place measures to stabilize and rebuild NAV, but near‑term valuation and mark volatility remain risks.Company Guidance
Net Investment Income (NII) Growth
NII was $5.0M or $0.36 per share in Q1 2026 versus $4.4M or $0.31 per share in Q4 2025, a ~13% quarter‑over‑quarter increase (partially driven by the incentive fee waiver).
Incentive Fee Waiver and Direct NAV Benefit
The investment adviser waived all accrued/unpaid incentive fees through June 30, 2026; the waiver totaled approximately $2.8M or ~$0.20 per share as of March 31, 2026 (third consecutive quarterly waiver), immediately accretive to NAV and signaling alignment with shareholders.
Deleveraging and Elimination of Near-Term Refinancing Risk
Called and repurchased $57.5M of GECCO notes due later in 2026; once the remaining 2026 paper is retired the company will have no funded debt maturities until 2029. Total debt outstanding was $174M with full availability on a $50M revolver and cash/money market investments of ~$10M (plus $4M in liquid exchange‑traded assets).
Improved Credit Mix and Portfolio Quality
First‑lien investments now comprise nearly 75% of the corporate portfolio (the highest level in recent history), reflecting a deliberate shift toward senior secured positions. Fair value of investments on nonaccrual was under 1% at quarter end.
Active Deployment and Sourcing Momentum
During the quarter GECC deployed ~ $22M across 12 investments while exiting higher‑risk positions. Closed 3 institutional partnership transactions (~$15M committed) and one proprietary private investment in April, with additional pipeline activity expected.
Great Elm Specialty Finance (GESF) Profitability
All three GESF verticals (Commercial Finance, Healthcare Finance, Prestige invoice financing) are profitable and generating cash distributions, contributing diversification to assets and income.
Share Repurchases at Deep Discounts
Under the $10M repurchase program authorized Oct 2025, GECC repurchased ~1% of shares through May 1, 2026 at an average ~36% discount to March 31 NAV, with ~ $9.5M remaining capacity—demonstrating opportunistic capital allocation to support NAV.
Stronger Coverage and Leverage Metrics
Asset coverage ratio improved to 161.8% from 158.1% and debt‑to‑equity improved to 1.62x from 1.72x quarter‑over‑quarter, reflecting improved capitalization and deleveraging progress.
Dividend Approved at Attractive Yield
Board approved a Q2 2026 quarterly dividend of $0.25 per share, which equates to an 18% annualized yield based on GECC's May 1, 2026 closing price of $5.56.
GECC 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
GECC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 04, 2026 | $5.53 | $5.68 | +2.71% |
Mar 02, 2026 | $5.88 | $5.67 | -3.70% |
Nov 04, 2025 | $6.72 | $6.94 | +3.35% |
Aug 04, 2025 | $9.52 | $9.57 | +0.55% |
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 Great Elm Capital Corporation (GECC) report earnings?
Great Elm Capital Corporation (GECC) is schdueled to report earning on Jul 30, 2026, Before Open (Confirmed).
What is Great Elm Capital Corporation (GECC) earnings time?
Great Elm Capital Corporation (GECC) earnings time is at Jul 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is GECC EPS forecast?
GECC EPS forecast for the fiscal quarter 2026 (Q2) is 0.36.