Golub Capital BDC (NASDAQ:GBDC) Q2 2022 Earnings Conference Call May 11, 2022 3:00 PM ET
Company Participants
David Golub - Chief Executive Officer
Greg Robbins - Senior Managing Director
Jon Simmons - Managing Director
Chris Ericson - Chief Financial Officer
Conference Call Participants
Finian O'Shea - Wells Fargo Securities
Ryan Lynch - KB
Robert Dodd - Raymond James
Operator
Hello everyone and welcome to GBDC's Earnings Call for the Quarter Ended March 31st. Before we begin, I'd like to take a moment to remind our listeners that remarks made during this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Statements other than statements of historical facts made during this call may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors including those described from time-to-time in GBDC's SEC filings.
For materials we intend to refer to on today's earnings call, please visit the Investor Resources tab on the home page of our website, which is www.golubcapitalbdc.com and click on the Events Presentations link. As a reminder this call is being recorded for replay purposes.
I'll now turn the call over to David Golub, Chief Executive Officer of GBDC. David?
David Golub
Thanks Jon. Hello everybody. Thanks for joining us today. I'm joined here by Chris Ericson, our Chief Financial Officer; Greg Robbins, Senior Managing Director; and Jon Simmons, Managing Director here at Golub Capital.
Yesterday, we issued our earnings press release for the quarter ended March 31st and we posted an earnings presentation on our website. We're going to be referring to this presentation throughout the call today.
For those of you who are not familiar with GBDC, our investment strategy is to focus on providing first-lien senior secured loans to healthy resilient middle-market companies that are backed by strong partnership-oriented private equity sponsors.
The headline for this quarter is that GBDC had another strong consistent performance and that came despite a very challenging macro backdrop, which included rising interest rates, continuing supply chain issues, the Russia-Ukraine war, and the significant downdraft in equity and fixed income markets.
For the March 31 quarter, adjusted NII per share before the capital gain incentive fee accrual was $0.30, adjusted EPS was $0.39, and ending NAV grew from $15.26 per share to $15.35 per share.