Gladstone Investment Q3 NII $0.28; NAV $13.01; realized gain $43.5M

GLADSTONE INVESTMENT CORPORATION\DE

2024-Q3 EPS reported $0.49

Net investment income of $9.7M ($0.28/share) vs $(0.05)/share prior quarter; adjusted NII $0.26/share, up 8.3%.
Realized gain of $43.5M from exit of Counsel Press; net unrealized depreciation of $46.6M drove NAV down 7.3% to $13.01.
Total investment income $23.1M (+13.8% QoQ); cash distributions totaled $1.24/share ($0.43 NII + $0.81 realized gains).
Invested $64.7M in SFEG Holdings add-on; raised $20.8M via ATM at $14.51/share; credit facility increased to $200M post-quarter.
Stockholders approved new advisory agreement; voting trust established for David Gladstone succession.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GLADSTONE INVESTMENT CORPORATION\DE reported third fiscal quarter ended December 31, 2023 results: revenue $23.1 million, net income $9.7 million, EPS $0.28 per weighted-average common share.

Period: third fiscal quarter ended December 31, 2023
Revenue: $23.1 million
Net income: $9.7 million
EPS: $0.28 per weighted-average common share
Result: reported results

Exact text from the filing

Net investment income for the quarter ended December 31, 2023 was $9.7 million, or $0.28 per weighted-average common share, compared to net investment loss of $1.7 million, or $(0.05) per weighted-average common share, for the quarter ended September 30, 2023. This increase was a result of a decrease in total expenses, net of credits, primarily due to a decrease in accruals for capital gains-based incentive fees, and an increase in total investment income in the current quarter. Total investment income for the quarters ended December 31, 2023 and September 30, 2023 was $23.1 million and $20.3 million, respectively.

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Source: SEC EDGAR

accession 0001321741-24-000006

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