Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q2 2024 Results Conference Call August 13, 2024 12:00 PM ET
Company Participants
Dan McMahon - Head of Investor Relations
Jason Breaux - Chief Executive Officer
Henry Chung - President
Gerhard Lombard - Chief Financial Officer
Conference Call Participants
Robert Dodd - Raymond James
Paul Johnson - KBW
Finian O'Shea - Wells Fargo
Derek Hewett - Bank of America
Operator
Good day, everyone and welcome to the Q2 2024 Crescent Capital BDC Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask question during the question-and-answer session. [Operator Instructions]
It is now my pleasure to turn the conference over to Dan McMahon, Head of Investor Relations. Please go ahead.
Dan McMahon
Good morning, and welcome to Crescent Capital BDC, Inc.'s second quarter ended June 30, 2024, earnings conference call. Please note that Crescent Capital BDC may be referred to as CCAP, Crescent BDC or the Company throughout the call.
Before we begin, I'll start with some important reminders. Comments made over the course of this 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 a guarantee of future results. Yesterday, after the market closed, the Company issued its earnings press release for the second quarter ended June 30, 2024, and posted a presentation to the Investor Relations section of its website at 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.
Jason Breaux
Thank you, Dan. Hello, everyone, and thank you all for joining us today. It was great to see some of you in person at our inaugural Analyst and Investor Day in June.
I'll start today's call by highlighting our second quarter results, follow that with some thoughts on our investment approach and touch on our portfolio. Yesterday evening, we reported another quarter of solid earnings with continued strong credit performance across the portfolio. Net investment income, or NII, was $0.59 per share, which translates into an annualized NII return on equity of 11.7%.