Crescent Capital BDC, Inc. (CCAP) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Crescent Capital BDC Inc's first quarter ended March 31st, 2025 earnings conference call. Please note that Crescent Capital BDC Inc may be referred to as CCAP, Crescent BDC, or the company throughout the call. I'll start with some important reminders. Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. The company's actual results could differ materially from those expressed in such forward-looking statements for any reason, including those listed in its SEC filings. The company assumes no obligation to update any such forward-looking statements. Please note that the past performance or market information is not a guarantee of future results. I'll now turn the call over to Dan McMinn. Thank you. Yesterday, after the market closed, the company issued its earnings press release for the first quarter ended March 31, 2025, and posted a presentation to the IR section of its website at crescentbdc.com. The presentation should be reviewed in conjunction with the company's Form 10-Q filed yesterday with the SEC. As a reminder, this call has been recorded for replay purposes. Speaking on today's call will be CCAP's Chief Executive Officer, Jason Breaux, President Henry Chung, and Chief Financial Officer Gerhard Lombard. With that, I'd now like to turn it over to Jason. Thank you, Dan. Hello, everyone, and thank you all for joining us. I'll start today's call by summarizing our first quarter results, follow that with some thoughts on the market, and touch on our portfolio. In terms of first quarter earnings, we reported net investment income of $16.6 million, or 45 cents per share, compared to $20.5 million, or 55 cents per share, in the fourth quarter. ...