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Great Elm Capital Corp (GECC)
:GECC
Earnings Data
Report Date
May 01, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.35Last Year’s EPS
0.43Same Quarter Last Year
Moderate Buy
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 27, 2025
|% Change Since: 0.89%
|Next Earnings Date:May 01, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant achievements, including record investment income, successful debt refinancing, and positive developments in the CLO joint venture. However, challenges were noted in the specialty finance segment and an expected decline in NII for the next quarter. Overall, the positive aspects and strategic advancements outweigh the challenges faced by the company.Company Guidance
During the third quarter of 2024, Great Elm Capital Corp. (GECC) demonstrated robust financial performance, marked by several key metrics. The company reported a record net investment income (NII) of $0.39 per share, up from $0.32 in the previous quarter, exceeding its quarterly distribution of $0.35. This growth was primarily attributed to increased cash flows from its CLO joint venture, which contributed approximately $3 million in distributions on a $33 million investment. GECC's net asset value (NAV) remained stable at $12.04 per share as of September 30, 2024. The company's asset coverage ratio stood at 166.2%, while total debt outstanding was approximately $235 million, which was adjusted to $195 million following refinancing activities. GECC further strengthened its financial position by issuing $36 million of 8.125% notes due 2029, extending its debt maturity profile and enhancing financial flexibility. Additionally, the company maintained a cash distribution of $0.35 per share for the fourth quarter, representing an annualized dividend yield of 11.6% based on its September 30 NAV.Record Investment Income
GECC reported its highest ever investment income, marking the highest cash income quarter in the company's history.
Successful Debt Refinancing
GECC issued $36 million of 8.125% GECCH notes due 2029, extending the debt maturity profile into 2026 and beyond, enhancing financial flexibility.
Strong NII Growth
Net Investment Income (NII) grew to $0.39 per share from $0.32 in Q2, exceeding the quarterly distribution of $0.35.
CLO Joint Venture Success
The CLO joint venture deployed $33 million through Q3 2024, generating approximately $3 million in distributions, with expectations of high teens to 20% returns over time.
Decline in Nonaccruals
Nonaccruals declined to $1.3 million, less than 1% of portfolio fair value, down from $9.4 million or 3% in the previous quarter.
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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
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GECC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 27, 2025 | $11.20 | $11.20 | 0.00% |
| Oct 31, 2024 | $9.65 | $9.31 | -3.52% |
| Aug 01, 2024 | $10.01 | $9.52 | -4.90% |
| May 02, 2024 | $9.20 | $9.17 | -0.33% |
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.
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FAQ
When does Great Elm Capital Corp (GECC) report earnings?
Great Elm Capital Corp (GECC) is schdueled to report earning on May 01, 2025, TBA Not Confirmed.
What is Great Elm Capital Corp (GECC) earnings time?
Great Elm Capital Corp (GECC) earnings time is at May 01, 2025, TBA Not 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 GECC EPS forecast?
GECC EPS forecast for the fiscal quarter 2025 (Q1) is 0.35.
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