Palmer Square Capital BDC Inc. (PSBD)
NYSE:PSBD
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Earnings Data
Report Date
Aug 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.36Last Year’s EPS
0.43Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mixed but balanced picture. Positives include strong portfolio credit metrics (96% senior secured exposure, low nonaccruals), attractive yields (11.73% YTM at fair value), ample liquidity (~$325 million), active capital deployment and share repurchases, and early signs of market stabilization in April. Negatives include a meaningful NAV decline (~-10.4%), a reduction in portfolio fair value (~-4.1%), lower investment income (total investment income down 16% YoY), and substantial realized and unrealized losses ($48.3 million) driven largely by software/tech dislocation and macro/geopolitical volatility. Management emphasized transparency, conservative underwriting, and opportunistic positioning should spreads remain wider, while acknowledging near-term pressures on earnings and NAV.Company Guidance
Capital Deployment and Deal Activity
Deployed $109.4 million of capital in Q1 (42 new commitments at an average of ~$2.1 million), realized approximately $79.9 million through repayments and sales, and reported early signs of a pickup in new-issue and refinancing activity in April. Board confirmed a Q2 base dividend of $0.36 per share.
Attractive Dividend and Yield Profile
Paid a $0.37 per share total dividend in Q1 (includes $0.01 supplemental and ~ $0.02 spillover). Dividend yields were reported at 11.1% on NAV and 13.5% on the stock price as of 04/30/2026, presenting a strong yield spread versus NAV.
Portfolio Composition and Strong Credit Metrics
Portfolio fair value of approximately $1.15 billion diversified across 44 industries; 96% of the portfolio is senior secured. Top 10 positions represent 10.64% of the portfolio; average hold size ~$4.4 million. On a fair value-weighted basis first-lien borrowers have average EBITDA of $452 million, senior secured leverage of 5.5x and interest coverage of 2.4x. Nonaccruals are low at <1 basis point (fair value) and 90 basis points (at cost).
Yield and New-Investment Spread Profile
Weighted average total yield to maturity on debt and income-producing securities at fair value was 11.73% (8.26% at amortized cost). New private credit loans comprised 22.3% of new investments at a weighted average spread of ~486 basis points over the reference rate.
Liquidity and Capital Flexibility
Available liquidity (cash + undrawn capacity) of approximately $325.3 million (up from $311.3 million at end of 2025). Management has flexibility to manage leverage (paid down ~$14 million on credit facilities in Q1), CLO issued in 2024 exits non-call period in July 2026, and share repurchases remain active (140,149 shares repurchased for ~$1.6 million; manager bought 67,875 shares for ~$0.8 million; remaining repurchase availability ~$4.2 million).
Transparency and Early Signs of Market Stabilization
Continued monthly NAV disclosures based on third-party, actionable market prices to provide transparency. Management reported early April stabilization and partial reversals in mark-to-market prices for software and other AI-impacted loans, indicating the beginning of improved market pricing in those areas.
Low Reliance on PIK and Conservative Internal Ratings
PIK income represented ~1.64% of total investment income (noted as well below peers), and the portfolio carried an average internal rating of 3.6 (fair value-weighted), supporting a conservative credit posture.
PSBD 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
PSBD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 06, 2026 | $11.15 | $10.75 | -3.59% |
Feb 26, 2026 | $10.63 | $10.28 | -3.36% |
Nov 05, 2025 | $11.30 | $11.39 | +0.74% |
Aug 06, 2025 | $12.63 | $12.70 | +0.57% |
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 Palmer Square Capital BDC Inc. (PSBD) report earnings?
Palmer Square Capital BDC Inc. (PSBD) is schdueled to report earning on Aug 06, 2026, Before Open (Confirmed).
What is Palmer Square Capital BDC Inc. (PSBD) earnings time?
Palmer Square Capital BDC Inc. (PSBD) earnings time is at Aug 06, 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 PSBD EPS forecast?
PSBD EPS forecast for the fiscal quarter 2026 (Q2) is 0.36.