Crescent Capital BDC, Inc. (CCAP) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Crescent Capital BDC Inc.' 's fourth quarter and year-ended December 31, 2025 earnings conference call. Please note that Crescent Capital BDC Inc. may be referred to as CCAP, Crescent BDC, or the companies 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 also note that past performance or market information is not guaranteed of future results. I'll now turn the call over to Dan McMahon. Thank you. Yesterday after the market closed, the company issued its earnings press release for the fourth quarter and year ended December 31st, 2025, and posted a presentation to the IR section of its website at www.crescentbdc.com. The presentation should be reviewed in conjunction with the company's Form 10-K 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 results and outlook and follow that up with some commentary on the current market environment. In terms of fourth quarter earnings, we reported net investment income of 45 cents per share, as compared to 46 cents for the prior quarter. Once again...