Capital Southwest (NASDAQ:CSWC) Q4 2023 Earnings Conference Call May 23, 2023 11:00 AM ET

Company Participants

Bowen Diehl - Chief Executive Officer

Michael Sarner - Chief Financial Officer

Chris Rehberger - Vice President, Finance

Conference Call Participants

Mickey Schleien - Ladenburg Thalmann

Erik Zwick - Hovde Group

Robert Dodd - Raymond James

Operator

Thank you for joining today's Capital Southwest Fourth Quarter and Fiscal Year 2023 Earnings Call. Participating on the call today are Bowen Diehl, CEO; Michael Sarner, CFO; and Chris Rehberger, Vice President, Finance.

I will now turn the call over to Chris Rehberger.

Chris Rehberger

Thank you. I'd like to remind everyone that in the course of this call we will be making certain forward-looking statements. These statements are based on current conditions, currently available information and management's expectations, assumptions and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from such statements.

For information concerning these risks and uncertainties, see Capital Southwest's publicly available filings with the SEC. The company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release, except as required by law.

I will now hand the call off to our President and Chief Executive Officer, Bowen Diehl.

Bowen Diehl

Thanks Chris, and thank you to everyone for joining us for our fourth quarter and fiscal year 2023 earnings call. We are pleased to be with you this morning and look forward to giving you an update on the performance of our company and our portfolio as we continue to diligently execute our investment strategy as stewards of your capital.

Throughout our prepared remarks, we will refer to various slides in our earnings presentation, which can be found in the Investor Relations page on our website at www.capitalsouthwest.com. You will also find our quarterly earnings press release issued last evening on our website.

Now turning to slide six of the earnings presentation, we will begin with a summary of the key performance highlights for the 2023 fiscal year. During the fiscal year we grew our total portfolio at fair value by 29% year-over-year to over $1.2 billion, from $937 million in the prior year, while increasing our pretax investment income by 21% to $2.30 per share from $1.90 per share in the prior year.