Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q3 2024 Earnings Conference Call November 12, 2024 12:00 PM ET

Company Participants

Dan McMahon - Head, 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

Operator

Good day, everyone. And welcome to the Third Quarter 2024 Crescent Capital BDC, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, you’ll have the opportunity to ask questions during the question-and-answer session. [Operator Instructions]

Please note, today’s call will be recorded and we will be standing by if you should need any assistance. It is now my pleasure to turn today’s conference over to Dan McMahon.

Dan McMahon

Good morning. And welcome to Crescent Capital BDC, Inc.’s third quarter ended September 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 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 a guarantee of future results.

This morning, before the market opened, the company issued its earnings press release for the third quarter ended September 30, 2024, 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-Q filed this morning 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. I’ll start today’s call by highlighting our third quarter results. Follow that with some thoughts on our investment approach and touch on our portfolio.

This morning, we reported another quarter of solid earnings with continued strong credit performance across the portfolio. Net investment income or NII was $0.64 per share, which translates into an annualized NII return on equity of 12.6%.