Carlyle Secured Lending, Inc. (CGBD) Earnings Call Transcripts
Carlyle Secured Lending, Inc.'s Latest Earnings Call - Q1 FY2026
In the first quarter of 2026, Carlyle Secured Lending, Inc. (CGBD) reported a net investment income of $25 million, or $0.36 per share, which aligns with expectations but reflects a decrease from the previous quarter. The company funded $217 million in investments and closed over $1.2 billion in commitments, indicating a strong origination performance despite market volatility. Management has reset the base dividend to $0.35 per share, down from $0.40, to enhance financial flexibility and support a stable NAV, while maintaining a supplemental dividend policy.
Reported metrics
| Metric | Value |
|---|---|
| Net Investment Income | $25 million (inline) |
| Net Investment Income per Share | $0.36 (inline) |
| Total Investment Income | $64 million (miss) |
| Total Expenses | $39 million (positive) |
| Net Asset Value | $15.89 (negative) |
| Dividend per Share | $0.35 (negative) |
Guidance from management
Management expects earnings to trough in Q2 2026, with a rebound anticipated in subsequent quarters as joint ventures ramp up and the investment environment improves.
What management said
Sure. So those I'd say are primarily late 2025 originations, regular course deals, the deals in the typically the 450, 475 spread. So those transactions when we originate across our platform throughout 2025, those lower spread transactions typically with a 4 handle, we would really weren't considering to maintain long term on the CGBD balance sheet. We're always working in concert with PSP with the thought that we ...
What analysts pressed on
Analysts expressed concerns regarding the reset of the dividend and the potential impact of lower investment yields on future earnings. There were questions about the timing and selection of assets sold to the credit fund, as well as the sustainability of the current credit quality amidst market volatility.
Main topics on the call
- Investment Activity — CGBD funded $217 million in investments and closed over $1.2 billion in commitments, reflecting a 14% year-over-year increase in platform originations despite a 25% decline in U.S. private equity deal activity. Managemen...
- Dividend Reset — The base dividend has been reset to $0.35 per share for Q2 2026, down from $0.40, to support a stable NAV and provide financial flexibility. Management stated, 'This change will enable us to support a stable NAV in the n...
- Credit Quality — Despite market volatility, credit quality remains stable with nonaccruals decreasing to 0.9% of investments at fair value. Management expressed confidence, stating, 'we remain confident in the quality and stability of ou...
- Future Earnings Outlook — Management anticipates earnings to trough in Q2 2026, with a rebound expected in subsequent quarters as joint ventures ramp up. They noted, 'we expect to see portfolio growth in the second quarter.'
Read the full Carlyle Secured Lending, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Carlyle Secured Lending, Inc.
Carlyle Secured Lending, Inc. (CGBD) is a publicly listed company in the Capital Markets industry, within the Financials sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 27 calls on record spanning February 26, 2020 to August 7, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 27 Carlyle Secured Lending, Inc. earnings call transcripts on record, spanning February 26, 2020 to August 7, 2026. Based on this history, Carlyle Secured Lending, Inc. reports quarterly. The most recent call on file is dated August 7, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- CGBD
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Financials
- Industry
- Capital Markets
- Calls on record
- 27
- First call
- February 26, 2020
- Most recent
- August 7, 2026
- Reporting cadence
- quarterly