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Great Elm Capital Corporation (GECC)
NASDAQ:GECC
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.32Last Year’s EPS
0.4Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a balanced picture: management acknowledged a significant NAV decline (roughly 19% q/q) driven by market volatility, CLO mark compression, restructurings and specific stressed investments, and disclosed realized losses on certain DIP positions. Offsetting those negatives were clear remediation efforts — an incentive fee waiver (~$2.3M), active portfolio derisking (nearly 30% of corporate credits repositioned), strong quarter-over-quarter NII growth (>50% in NII per share), low nonaccruals (<1%), improved liquidity actions (note repurchases and revolver availability), a strengthened credit team, and continued CLO JV cash generation. Given the material NAV headwinds but decisive governance and portfolio actions to stabilize earnings and protect capital, the overall tone is cautious and constructive.Company Guidance
Net Investment Income Growth
NII increased to $4.4M (or $0.31 per share) in Q4, up from $2.4M (or $0.20 per share) — a greater than 50% quarter-over-quarter increase in NII per share driven primarily by higher cash income and stronger distributions from the CLO joint venture.
Proactive Management Actions and Fee Alignment
Great Elm Capital Management waived all accrued and unpaid incentive fees through 03/31/2026 (~$2.3M or $0.16 per share), an immediate accretive action to NAV demonstrating economic alignment with shareholders.
Portfolio Repositioning and Credit Risk Reduction
During the quarter the team sold or reduced 18 corporate credit positions (nearly 30% of the corporate credit portfolio by number), reduced higher-risk exposures (e.g., second lien to ~7% of the corporate portfolio), added 12 new broadly syndicated credits (average size ~$2.0M) and materially reduced exposure to problem investments such as First Brands to de minimis.
Enhanced Credit Oversight and Team Strengthening
Added Chris Croteau as Head of Credit Research, bringing 25+ years of leveraged credit experience and a reinforced underwriting framework focused on downside protection, portfolio granularity and durable underwriting edge.
CLO JV Contribution and Relative Outperformance
CLO investments generated positive returns through 2025 and outperformed the broader CLO equity market in Q4; the broader market ranged from -6% to -13% in Q4, while the CLO JV provided meaningful cash flows that supported NII and income diversification.
Improved Liquidity and Capital Structure Actions
Repurchased approximately $18.7M of GECCO notes in Q4 (at or below par plus accrued interest), called ~half of remaining GECCO bonds, leaving pro forma debt-to-equity at ~1.5x; as of late Q4 the company had $16M cash, $50M revolver capacity (unused), and $14M liquid exchange-traded assets.
Low Nonaccruals and Cleaner Portfolio
Nonaccruals were less than 1% of portfolio fair value at year-end, and the company emphasized a shift toward performing, more liquid, cash-generative investments.
Dividend Policy and Shareholder Yield
Board approved a quarterly dividend of $0.30 per share for 2026, which equates to a 19.2% annualized yield based on the 02/27/2026 closing stock price of $6.26.
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 |
|---|---|---|---|
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% |
May 05, 2025 | $8.42 | $8.89 | +5.69% |
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 Apr 30, 2026, Before Open (Confirmed).
What is Great Elm Capital Corporation (GECC) earnings time?
Great Elm Capital Corporation (GECC) earnings time is at Apr 30, 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 GECC EPS forecast?
GECC EPS forecast for the fiscal quarter 2026 (Q1) is 0.32.