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EarningsQ2 2026 Earnings Report
CCAP Q2 2026 EPS Results
Actual EPS$0.36
Consensus EPS$0.37
Beat/MissMissed by -$0.01
One Year Ago EPS$0.46
CCAP Q2 2026 Revenue Results
Actual Revenue$18.60M
Expected Revenue$37.12M
Beat/MissMissed by -$18.52M
YoY Revenue Growth-54.13%
Earnings Announcement Details
QuarterQ2 2026
Date08/10/2026
TimeAfter Close
Conference CallMonday, August 10, 2026
CCAP Upcoming Earnings
Crescent Capital BDC's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
CCAP Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call balanced meaningful structural and operational progress (competitive fee structure, enhanced liquidity, strong origination pipeline, stable senior-first-lien portfolio composition, no new non-accruals and reduction in non-accruals) with persistent near-term headwinds (eight consecutive quarters of NAV declines, notable realized/unrealized QoQ losses, reduced investment income, elevated leverage and a slightly higher watch list). Management has clear priorities — rotating legacy assets and deleveraging — and has taken concrete actions, but NAV pressure and credit-specific challenges remain material near-term risks.Company Guidance
Net Investment Income Exceeds Base Dividend
NII of $0.36 per share in Q2 2026, above the $0.34 base dividend. Excluding a prior-quarter one-time $0.04 incentive fee waiver, NII declined from $0.38 to $0.36 per share (≈ -5.3% QoQ).
Conservative Dividend Framework and Special Dividend
Board declared a Q3 regular dividend of $0.34 per share and paid the first of three previously announced special dividends of $0.03 per share during Q2; second special dividend of $0.03 scheduled for Sept 15.
Improved Fee Structure and Alignment with Sponsor
Implemented reduced management and incentive fees effective April 1, 2026 to enhance long-term earnings power; Sun Life remains a supportive long-term holder (~6% ownership) and Crescent has >$1.5 billion invested/committed from Sun Life since 2021.
Strong Origination Activity and Access to Pipeline
Crescent committed >$2.5 billion across private credit transactions in Q2 and >$8.7 billion over the last 12 months, providing CCAP access to a deep pipeline of investment opportunities.
Healthy Portfolio Composition and Coverage Metrics
Investment portfolio ~$1.6 billion FV across 192 companies; 91% invested in senior first-lien loans, average investment ≈0.5% of portfolio, ~85% of investments rated 1 or 2, weighted average portfolio risk rating 2.1 and interest coverage stable at 2.2x.
Progress on Legacy Portfolio Rotation
Acquired portfolio reduced from >70 to 27 investments (~7% of CCaaS portfolio FV); completed restructurings including one legacy First Eagle restructuring and one exit at par during the quarter.
Enhanced Liquidity and Extended Debt Maturities
Approximately $200 million of available borrowing capacity and $36 million cash at quarter end; upsized SPV facility by $100M to $500M and SMBC facility by $25M to $335M; funded $50M tranche of 2025 notes and extended unsecured debt maturities to 2028+ after repaying $162M maturing fixed-rate debt.
Controlled Deployment with Attractive Spreads
Gross deployment of $57 million in Q2 (including $28M across 3 new platform investments) at weighted average spreads ≈550 bps; exits/sales/repayments ≈$36M produced net deployment ≈$21M.
Stability in Non‑Accrual Trend During Quarter
No new non-accruals in Q2; completed 3 restructurings that contributed to a decline in non-accruals from 5.7% to 4.8% of debt investments at cost.
CCAP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed