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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Crescent Capital BDC
Crescent Capital BDC (CCAP) investor relations material
Crescent Capital BDC Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary10 Nov, 2026
Executive summary
Q3 net investment income was $13.7m, or $0.37/share; net increase in net assets from operations was $10.1m, or $0.27/share. NAV ended at $17.72/share, down $0.10 QoQ.
Portfolio fair value was $1,555.2m across 190 companies; 91% was invested in senior secured first-lien or unitranche first-lien investments.
Financial highlights
Q3 investment income was $36.9m, down from $41.4m YoY; net investment income was $13.7m, down from $16.9m, or $0.37/share versus $0.46.
Investment income rose from $36.3m QoQ, as interest income increased to $35.6m from $34.7m; net expenses, including income and excise taxes, were $23.2m in both quarters.
Net realized and unrealized investment losses were $3.6m in Q3 versus $9.8m in Q3 2025; net increase in assets from operations was $10.1m versus $7.1m.
NAV declined from $17.82/share in Q2 and $19.10/share at year-end 2025; portfolio fair value was $1,555.2m versus $1,569.4m at year-end.
Q3 NII covered the $0.34/share regular dividend; a $0.03/share special dividend was also paid during the quarter.
Outlook and guidance
Pending portfolio realizations and the planned JV are expected to bring net leverage within the target range by year-end 2026; JV proceeds are intended to reduce leverage and fund share repurchases.
The JV is expected to close in Q4 2026; further organic realizations are expected by year-end, while originations depend on realizations and leverage relative to target.
Management expects deal activity to pick up into 2027, supported by sponsor liquidity needs, but pipeline activity remains light and conversion uncertain.
Q4 2026 regular dividend of $0.34/share declared, payable Jan. 15, 2027; the final previously announced $0.03/share special dividend is payable Dec. 15, 2026.
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Latest events from Crescent Capital BDC
- Net investment income fell to $0.36 per share as NAV declined and risk management remained a focus.CCAP
Q2 2026 - Directors were elected for three-year terms and the auditor was ratified with no shareholder questions.CCAPAGM 2026
- Net investment income and NAV per share declined, with fee reductions and special dividends announced.CCAPQ1 2026
- Virtual meeting to elect directors and ratify auditor, with online voting available.CCAPProxy filing
- Virtual meeting to elect directors and ratify E&Y as auditor, with strong governance oversight.CCAPProxy filing
- Q4 net investment income covered the dividend, with NAV at $19.10 and a strong, diversified portfolio.CCAPQ4 2025
- Net investment income per share was $0.46 for Q3 2025, with NAV per share at $19.28.CCAPQ3 2025
- Q2 2024 NII reached $0.59/share, NAV hit $20.30, with strong liquidity and low nonaccruals.CCAPQ2 2024
- Q4 2024 featured stable NAV, strong liquidity, robust dividends, and a diversified portfolio.CCAPQ4 2024
Next Crescent Capital BDC earnings date
Q4 202625 Feb, 2027
Crescent Capital BDC
Next Crescent Capital BDC earnings date
Q4 202625 Feb, 2027
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Frequently asked questions
Crescent Capital BDC, Inc. is a business development company (BDC) that provides debt financing solutions to private middle-market companies. The company primarily focuses on originating and investing in senior secured loans, unitranche loans, and mezzanine debt, often working with companies in sectors such as healthcare, technology, and industrials. Crescent Capital BDC aims to support the growth and expansion of its portfolio companies while generating income through interest and fees. The company is headquartered in Los Angeles, United States, and its shares are listed on the NASDAQ.