Palmer Square Capital BDC

PSBD

Market cap $351M

Palmer Square Capital BDC Inc. (PSBD) Q4 2025 Earnings Call Transcript

Palmer Square Capital BDC Inc. (PSBD) came out with quarterly earnings of $0.41 per share, missing the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.46 per share a year ago.

MISSION WOODS, Kan.--(BUSINESS WIRE)--Palmer Square Capital BDC Inc. (NYSE: PSBD) (“PSBD” or the “Company”), an externally managed business development company, today announced its financial results for the fourth quarter and full year ended December 31, 2025. Financial and Operating Highlights Total investment income of $29.8 million for the fourth quarter of 2025, compared to $34.9 million for the prior year period Net investment income of $13.1 million or $0.41 per share for the fourth quart.

Palmer Square Capital BDC remains a sell due to persistent NAV declines, weak earnings, and lack of near-term catalysts. PSBD trades at a record 23.47% discount to NAV, but I see further downside risk outweighing the appeal of its 14.6% dividend yield. Management's capital allocation favors supplemental distributions over reinvestment, limiting earnings growth and NAV recovery potential.

The market has become worried about BDCs mostly from the credit risk perspective. However, some of the recent earnings reports and BDC examples show that dividend cut risk has not disappeared. In this article, I share two BDC examples that are very likely to slash their dividends soon.

MISSION WOODS, Kan.--(BUSINESS WIRE)--Palmer Square Capital BDC Inc. (NYSE: PSBD) ("Palmer Square" or the "Company"), an externally managed business development company, today announced that it will release its financial results for the fourth quarter and full year ended December 31, 2025, before the market opens on Thursday, February 26, 2026. Palmer Square will host a conference call at 1:00 pm ET that day to review its financial performance and conduct a question-and-answer session. To parti.

Investors have started to question how sustainable BDC dividends are. A lot of this skepticism is logical and justified by valid reasons. My calculus shows that on average BDCs could cut their dividends by 20% in order to avoid NAV erosion.

MISSION WOODS, Kan.--(BUSINESS WIRE)--Palmer Square Capital BDC Inc. (NYSE: PSBD) ("Palmer Square" or the "Company"), an externally managed business development company, today announced that its Board of Directors has declared a fourth quarter 2025 supplemental dividend of $0.07 per share. Shareholders of record as of December 29, 2025, will receive the supplemental dividend, payable on January 14, 2026. The supplemental dividend will be paid out of the excess of the Company's quarterly undistr.

Palmer Square Capital BDC Inc. ( PSBD ) Q3 2025 Earnings Call November 5, 2025 1:00 PM EST Company Participants Jeremy Goff Christopher Long - Chairman, CEO & Portfolio Manager Angie Long - Chief Investment Officer Matthew Bloomfield - President Jeffrey Fox - CFO & Director Conference Call Participants Kenneth Lee - RBC Capital Markets, Research Division Melissa Wedel - JPMorgan Chase & Co, Research Division Cory Johnson - UBS Investment Bank, Research Division Presentation Operator Welcome to Palmer Square Capital BDC's Third Quarter 2025 Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded.

Although the revenue and EPS for Palmer Square Capital BDC Inc. (PSBD) give a sense of how its business performed in the quarter ended September 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.