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Goldman Sachs BDC (GSBD)
NYSE:GSBD
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.33Last Year’s EPS
0.42Same Quarter Last Year
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a primarily positive tone driven by substantial progress in portfolio quality (median EBITDA +84%), reduced ARR exposure, strong origination activity ($14.6B platform commits in 2025), effective use of the Goldman Sachs ecosystem (Clearwater) and disciplined active management including meaningful repayments and accretive buybacks. Offsetting items included modest NAV and NII pressure, slight yield compression, higher leverage (net debt/equity up to 1.27x), and a small rise in nonaccruals and legacy software/AI-related credit actions. Overall, the positive operational and structural improvements outweigh the near-term earnings and leverage headwinds.Company Guidance
Meaningful Portfolio Quality Improvement
Median portfolio EBITDA increased 84% from year-end 2021 to $71.8M at year-end 2025; first-lien exposure rose to 97% of the portfolio from 89% since 2021, reflecting a shift to higher-quality, top-of-capital-structure investments.
Material Reduction in ARR Exposure
ARR exposure across the BDC complex fell from a peak of 36.5% in Q3 2022 to ~5% at year-end 2025; within GSBD specifically, ARR loans declined from ~39% to 11% over the same period, driven by strategic exits and conversion to EBITDA-based investments.
Strong Origination and Platform Scale
Direct Lending Americas committed ~$14.6B in 2025 (up from $13B in 2024 and >2x 2023); GSBD committed ~ $1.2B in new commitments in 35 new deals during the year and ~$394.9M across 27 companies in the quarter, with GS leading ~75% of new-company commitments and 100% of quarterly originations as first-lien.
Demonstrated Active Portfolio Management
Total repayments in 2025 were $1.1B with $251.6M in sales/repayments in Q4; over 78% of 2025 repayment activity came from pre-2022 vintages, showing proactive de-risking and rotation of legacy assets.
Software Diligence and Strategic Deal Execution (Clearwater)
Leveraged Goldman Sachs ecosystem to commit $75M to GSBD's allocation of the $3.5B Clearwater unitranche; platform retained $1.235B overall, demonstrating differentiated origination, proprietary diligence and ability to structure large bilateral financings.
Capital Markets Access and Funding Execution
Subsequent to quarter-end, borrowed $505M under revolver to refinance notes and issued $400M of 3-year unsecured notes at a 5.1% coupon (hedged to floating); the deal saw a 7.3x peak order book on $300M starting size, indicating strong investor demand.
Share Repurchases and NAV Accretion
Repurchased >1.5M shares for ~$15M in the quarter and ~$52.2M (4.7M shares) since June 2025 under the 10b5-1 plan; repurchases were accretive to NAV by $0.04 per share.
GSBD 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
GSBD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $9.26 | $9.17 | -0.97% |
Nov 06, 2025 | $9.70 | $9.84 | +1.44% |
Aug 07, 2025 | $10.47 | $10.68 | +2.01% |
May 08, 2025 | $9.63 | $9.80 | +1.77% |
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 Goldman Sachs BDC (GSBD) report earnings?
Goldman Sachs BDC (GSBD) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).
What is Goldman Sachs BDC (GSBD) earnings time?
Goldman Sachs BDC (GSBD) earnings time is at Apr 30, 2026, After Close (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 GSBD EPS forecast?
GSBD EPS forecast for the fiscal quarter 2026 (Q1) is 0.33.