Golub Capital BDC (NASDAQ: GBDC) reported Q4 EPS of $0.35, $0.03 better than the analyst estimate of $0.32.

Fourth Fiscal Quarter 2019 Highlights

• Net investment income per share for the quarter ended September 30, 2019 was $0.37 per share as compared to $0.32 per share for the quarter ended June 30, 2019. Excluding $0.02 per share in purchase premium amortization from the GCIC acquisition and a ($0.06) per share reversal in the accrual for the capital gain incentive fee, adjusted net investment income per share1 for the quarter ended September 30, 2019 was $0.33 per share. This compares to adjusted net income per share1 of $0.32 per share for the quarter ended June 30, 2019 when excluding an accrual for the capital gain incentive fee of less than $0.01 per share.
• Net realized and unrealized loss per share for the quarter ended September 30, 2019 was ($1.39) per share that was comprised of (i) $0.02 per share of net realized and unrealized gain on investments and foreign currency, (ii) a ($1.43) loss per share of net unrealized depreciation resulting from the one-time write-down of the unamortized purchase premium allocated to the GCIC assets acquired and (iii) a $0.02 reversal of unrealized loss resulting from the amortization of the purchase premium. Adjusted net realized and unrealized gain per share1 was $0.02 per share when excluding the ($1.43) loss per share of net unrealized depreciation resulting from the write-down of the GCIC acquisition purchase premium and the $0.02 reversal of unrealized loss resulting from the amortization of purchase premium. This compares to net realized and unrealized loss per share of less than ($0.01) per share during the quarter ended June 30, 2019.
• Earnings per share for the quarter ended September 30, 2019 was a loss of ($1.02) per share as compared to earnings per share of $0.32 per share for the quarter ended June 30, 2019. Adjusted earnings per share1 for the quarter ended September 30, 2019 was $0.35 per share, which is calculated as the sum of adjusted net investment income per share and adjusted net realized and unrealized gain/(loss) per share.
• Net asset value per share increased from $15.95 per as of June 30, 2019 to $16.76 as of September 30, 2019, primarily due to the GCIC acquisition.
• Our board of directors declared on November 22, 2019, a quarterly distribution of $0.33 per share and a special distribution of $0.13 per share both of which are payable on December 30, 2019 to stockholders of record as of December 12, 2019.

For earnings history and earnings-related data on Golub Capital BDC (GBDC) click here.