Crescent Capital BDC, Inc. (CCAP) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Crescent PDC 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 on our 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 past performance or market information is not a guarantee of future results. I'll now turn the call over to Dan McNam. Thank you. Yesterday after the market closed, the company issued its earnings press release for the second quarter ended June 30, 2025, and posted a presentation to the Investor Relations section of its website at www.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 is being 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 second quarter results, follow that with some thoughts on the market, and touch on our portfolio. In terms of second quarter earnings, we reported net investment income of $0.46 per share compared to $0.45 per share in the first quarter. Excluding $0.02 per share of one-time accelerated amortization related to deferred financing costs, and I was $0.48 per share. Importantly, earnings remain in excess of our dividend, with 110% base dividend coverage for ...