Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Q3 2022 Earnings Conference Call November 9, 2022 10:00 AM ET

Corporate Participants

Daniel Hahn - Head, IR

Linda Pace - Chief Executive Officer

Tom Hennigan - Chief Financial Officer

Conference Call Participants

Melissa Wedel - JPMorgan

Operator

Good day and welcome to the Carlyle Secured Lending's Third Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session and instructions will be given at that time. As a reminder, this call maybe recorded.

I would like to turn the call over to Daniel Hahn, Head of Shareholder Relations. You may begin.

Daniel Hahn

Good morning, and welcome to Carlyle Secured Lending's third quarter 2022 earnings call. With me on the call this morning is our Chief Executive Officer, Linda Pace and our Chief Financial Officer, Tom Hannigan. Last night, we issued a press release and earnings presentation outlining our quarterly results, both of which are available on the Investor Relations section on our website. Following our remarks today, we will hold a question-and-answer session for analysts and institutional investors. This call is being webcast and a replay will be available on our website.

Any forward-looking statements made today do not guarantee future performance and any undue reliance should not be placed on them. These statements are based on current management expectations and involve inherent risks and uncertainties, including those identified in the Risk Factors section of our annual report on Form 10-K that could cause actual results to differ materially from those indicated. Carlyle Secured Lending assumes no obligation to update any forward-looking statements at any time.

With that, I'll turn the call over to our Chief Executive Officer, Linda Pace.

Linda Pace

Thank you, Dan. Good morning, everyone, and thank you all for joining us to discuss another strong quarter of performance.

We're extremely pleased with our third quarter results, with growth in core earnings and net asset value, lower level of non-accruals and another 6% increase in our base dividend rate. These results demonstrate the power and resiliency of our platform, and our ability to deliver on our objective of generating sustainable income levels well above our base dividend and a stable NAV.

With that said, I would like to focus my remarks on three areas for today's call. I'll start with an overview of our third quarter financial results. Next, I'll touch on the current market environment. And finally, I'll conclude with a few thoughts on our investment activity and current positioning.