Goldman Sachs BDC

Goldman Sachs BDC Inc is a specialty finance company, which engages in the provision of lending services. It provides financing for  middle-market companies in the form of senior secured debt, unitranche debt, junior secured debt, mezzanine debt and equity. It provides financing for acquisitions, refinancing, growth, leveraged buyouts, dividend recapitalization and restructuring with investment size ranging between USD 10-75 million. It invests in companies with EBITDA between USD 5-75 million

Earnings data Q1 2021

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Earnings data Q4 2024

Goldman Sachs BDC reports mixed Q2 results, remains optimistic

Goldman Sachs BDC (GSBD) reported mixed results in Q2 2024, with a notable increase in net investment income per share but a decline in NAV per share. The company remains focused on software investments and declared a dividend for Q3, while addressing asset quality concerns.

Goldman Sachs BDC reports solid Q3 performance amidst market opportunities

Goldman Sachs BDC (GSBD) delivered a strong performance in Q3 2024, marked by robust financial results and consistent dividend payouts.
The company's strategic focus on portfolio management, asset quality, and financial metrics underscores its commitment to long-term value creation.
While facing potential challenges, GSBD remains optimistic about future prospects, driven by a proactive approach to seizing opportunities and managing risks.

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Goldman Sachs BDC Inc is a specialty finance company, which engages in the provision of lending services. It provides financing for  middle-market companies in the form of senior secured debt, unitranche debt, junior secured debt, mezzanine debt and equity. It provides financing for acquisitions, refinancing, growth, leveraged buyouts, dividend recapitalization and restructuring with investment size ranging between USD 10-75 million. It invests in companies with EBITDA between USD 5-75 million.

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When investing for 10%+ BDC yields, investors have to pay extra attention to leverage, dividend coverage, and portfolio quality. Going into Q3, 2024 earnings season, my expectation was that we would see elevated volatility levels and falling NII results. While the actual results have been mostly positive for high-quality BDCs (and even for some speculative picks), many risks remain open.

Investing In BDCs For 10%+ Yields? This Is What Matters Now

Despite attractive 13.9% yield, Goldman Sachs BDC faces credit quality concerns, declining NAV, and top/bottom line erosion, leading me to downgrade them from a buy to a hold. Payment-in-kind income also declined quarter-over-quarter but could see rises in the future due to impacts from declining interest rates. Improvements include higher originations, lower non-accruals, and increased portfolio company count, but persistent headwinds remain a concern for investors.

Goldman Sachs BDC: Important Improvements But Headwinds Warrant Caution (Rating Downgrade)

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We take a look at the action in business development companies through the second week of November and highlight some of the key themes we are watching. BDCs saw a 2% aggregate return on the week; TPVG surged nearly 20%, while PSEC dropped due to a bad quarter and distribution cut. Tax-loss season may pressure some securities; PSEC, HRZN, TPVG, TCPC, OCSL, GSBD, NMFC, and CSWC could weaken further by year-end.

BDC Weekly Review: Tax-Loss Season Is Approaching

Goldman Sachs BDC offers a high 14% yield and trades at a 4% discount to NAV, making it an attractive buy. The BDC's dividend is well-covered by net investment income, with a 78% payout ratio in 3Q24, ensuring dividend sustainability. Improving non-accrual ratio and strong gross originations highlight Goldman Sachs BDC's solid portfolio performance and potential for capital appreciation.

Goldman Sachs BDC: Is This 14% BDC Yield Risky?

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Goldman Sachs BDC (NYSE:GSBD ) Q3 2024 Earnings Conference Call November 8, 2024 9:00 AM ET Company Participants Austin Neri - Investor Relations Alex Chi - Co-Chief Executive Officer and Co-President David Miller - Co-Chief Executive Officer and Co-President Tucker Greene - Chief Operating Officer Stanley Matuszewski - Chief Financial Officer and Treasurer Conference Call Participants Mark Hughes - Truist Derek Hewett - Bank of America Securities Robert Dodd - Raymond James Austin Neri Good morning. This is Austin Neri, a member of the Investor Relations team for Goldman Sachs BDC, Inc. And, I would like to welcome everyone to the Goldman Sachs BDC, Inc. Third Quarter 2024 Earnings Conference Call.

Goldman Sachs BDC (GSBD) Q3 2024 Earnings Call Transcript

Goldman Sachs BDC (GSBD) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.64 per share a year ago.

Goldman Sachs BDC (GSBD) Beats Q3 Earnings Estimates

NEW YORK--(BUSINESS WIRE)--Goldman Sachs BDC, Inc. (“GSBD”, the “Company”, “we”, “us”, or “our”) (NYSE: GSBD) today reported financial results for the third quarter ended September 30, 2024 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. QUARTERLY HIGHLIGHTS Net investment income per share for the quarter ended September 30, 2024 was $0.58. Excluding purchase discount amortization per share of $0.01 from the Merger (as defined below), adjusted net investment income per.

Goldman Sachs BDC, Inc. Reports September 30, 2024 Financial Results and Announces Quarterly Dividend of $0.45 Per Share

GSBD's dividend yield is highly attractive at around 13%, but rising non-accruals and portfolio quality deterioration make it a hold rather than a buy. Despite strong NII coverage of the dividend, the substantial rise in PIK income to over 11% of total interest and dividend income raises concerns. GSBD trades at a slight discount to book value, and a rerating to historic premium levels is unlikely without significant credit quality improvement.

Goldman Sachs BDC: Payments-In-Kind And Portfolio Quality Are A Concern (Rating Downgrade)

Goldman Sachs BDC faces credit quality issues but maintains strong fundamentals, including a solid balance sheet and high dividend coverage, making it a buy. Despite a recent share price decline and rising non-accruals, the company's first-lien loan exposure and spillover income ensure dividend safety. GSBD's portfolio grew to 155 companies with increased first-lien exposure, enhancing confidence in future credit quality improvements.

Goldman Sachs BDC: Rising Concerns, But I'm Confident Dividend Remains Secure

Goldman Sachs BDC has experienced a price drop due to rising non-accrual rates. However, it now trades at an attractive discount to NAV, presenting a buying opportunity. GSBD's portfolio is diversified, with 92.3% in senior secured debt, protecting against defaults. The high dividend yield of 13.3% is well-covered by earnings, ensuring stability for income-focused investors even in a changing interest rate environment.

Goldman Sachs BDC: Strong Dividend Coverage But Some Portfolio Concerns

NEW YORK--(BUSINESS WIRE)--Goldman Sachs BDC, Inc. (“GS BDC”) (NYSE: GSBD) announced today that it will report its third quarter ended September 30, 2024 financial results after the market closes on Thursday, November 7, 2024. GS BDC will also host an earnings conference call on Friday, November 8, 2024 at 9:00 am Eastern Time to discuss its financial results. All interested parties are invited to participate via telephone or the audio webcast, which will be hosted on the Investor Resources sec.

Goldman Sachs BDC, Inc. Schedules Earnings Release and Conference Call to Announce Third Quarter 2024 Results

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The BDC sector faces headwinds such as spread compression, potential Fed rate cuts, and increased corporate distress. Despite these challenges, BDC market indices like VanEck BDC Income ETF and Putnam BDC Income ETF show only minor corrections. Yet, the small, illiquid nature of the BDC sector means ETFs may not fully capture overall sector dynamics.

3 Lessons Learned From Struggling BDCs After Q2 Earnings

Goldman Sachs BDC's Q2'24 results showed a sharp increase in non-accrual percentage. Despite solid dividend coverage of 1.31x in Q2, growing non-performing loan risks and potential Federal Reserve rate cuts pose challenges for future net investment income. GSBD's valuation is below its 3-year average price-to-NAV ratio, reflecting negative sentiment from the Q2 earnings report.

Goldman Sachs BDC: Risks Are Growing (Rating Downgrade)

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Goldman Sachs BDC stock price dropped, now at an 8% discount to book value. Factors for decline include U.S. recession concerns and increase in non-accruals and investment losses. Despite credit quality deterioration, the dividend is well-covered, making it a potentially beneficial purchase at a discount.

Goldman Sachs BDC: Time To Buy The Crash, Lock In A 13% Yield

Goldman Sachs BDC (NYSE:GSBD ) Q2 2024 Earnings Conference Call August 9, 2024 9:00 AM ET Company Participants Austin Neri – IR Alex Chi – Co-CEO and Co-President David Miller – Co-CEO and Co-President Tucker Greene – COO Stanley Matuszewski – CFO and Treasurer Conference Call Participants Finian O'Shea - Wells Fargo Securities Mark Hughes – Truist Derek Hewett - Bank of America Securities Austin Neri Good morning. This is Austin Neri, a member of the Investor Relations team for Goldman Sachs BDC, Inc., and I would like to welcome everyone to the Goldman Sachs BDC, Inc. Second Quarter 2024 Earnings Conference Call.

Goldman Sachs BDC (GSBD) Q2 2024 Earnings Call Transcript

Goldman Sachs BDC (GSBD) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.58 per share a year ago.

Goldman Sachs BDC (GSBD) Beats Q2 Earnings Estimates

NEW YORK--(BUSINESS WIRE)--Goldman Sachs BDC, Inc. (“GSBD”, the “Company”, “we”, “us”, or “our”) (NYSE: GSBD) today reported financial results for the second quarter ended June 30, 2024 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. QUARTERLY HIGHLIGHTS Net investment income per share for the quarter ended June 30, 2024 was $0.59. Excluding purchase discount amortization per share of $0.02 from the Merger (as defined below), adjusted net investment income per share wa.

Goldman Sachs BDC, Inc. Reports June 30, 2024 Financial Results and Announces Quarterly Dividend of $0.45 Per Share

Goldman Sachs BDC maintains a high distribution rate of 11.9%. The dividend has never been cut, which makes this a reliable income investment. Portfolio consists of 149 companies, the majority on first lien senior secured basis, with improving credit quality. Non-accruals have decreased quarter over quarter. Current valuation of GSBD is attractive with potential for price recovery due to future interest rate cuts.

Goldman Sachs BDC: Decreasing Non-Accruals And Increased Investment Activity (Upgrade)

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NEW YORK--(BUSINESS WIRE)--Goldman Sachs BDC, Inc. (“GS BDC”) (NYSE: GSBD) announced today that it will report its second quarter ended June 30, 2024 financial results after the market closes on Thursday, August 8, 2024. GS BDC will also host an earnings conference call on Friday, August 9, 2024 at 9:00 am Eastern Time to discuss its financial results. All interested parties are invited to participate via telephone or the audio webcast, which will be hosted on the Investor Resources section of.

Goldman Sachs BDC, Inc. Schedules Earnings Release and Conference Call to Announce Second Quarter 2024 Results

News for Goldman Sachs BDC ETF (GSBD)