Pearl Diver Credit Company Inc. Announces Second Quarter 2025 Financial Results
Pearl Diver Credit Company (NYSE: PDCC) reported its Q2 2025 financial results, demonstrating resilience amid market volatility. The company's net asset value per share stood at $18.19 as of June 30, 2025, slightly down from $18.33 in Q1. Key financial metrics include GAAP net income of $3.5 million ($0.52 per share) and net investment income of $3.1 million ($0.46 per share).
The company's CLO portfolio maintained a weighted average effective yield of 12.75%, down from 15.57% in Q1 due to market-wide loan spread compression. Notable portfolio characteristics include 95% of CLOs having reinvestment dates from 2026-2030, with exposure to 1,285 unique corporate obligors. The company's leverage stood at $40.4 million, representing 24.3% of total assets.
Looking ahead, PDCC has declared monthly dividends of $0.22 per share for August, September, and October 2025, with July 2025 NAV showing a 1.6% increase to $18.48 per share.
Pearl Diver Credit Company (NYSE: PDCC) ha pubblicato i risultati finanziari del 2° trimestre 2025, dimostrando resistenza nonostante la volatilità di mercato. Il valore patrimoniale netto per azione era pari a $18,19 al 30 giugno 2025, in lieve flessione rispetto a $18,33 del primo trimestre. Tra gli indicatori principali figurano un utile GAAP di $3,5 milioni ($0,52 per azione) e un reddito da investimenti netto di $3,1 milioni ($0,46 per azione).
Il portafoglio CLO ha mantenuto un rendimento effettivo medio ponderato del 12,75%, in calo dal 15,57% del primo trimestre a causa della compressione degli spread sui prestiti a livello di mercato. Tra le caratteristiche rilevanti del portafoglio, il 95% delle CLO ha date di reinvestimento tra il 2026 e il 2030, con esposizione verso 1.285 obbligati societari distinti. La leva finanziaria della società si è attestata a $40,4 milioni, pari al 24,3% del totale attivo.
Per il futuro, PDCC ha dichiarato dividendi mensili di $0,22 per azione per agosto, settembre e ottobre 2025; il NAV di luglio 2025 ha mostrato un aumento dell'1,6% a $18,48 per azione.
Pearl Diver Credit Company (NYSE: PDCC) presentó sus resultados financieros del 2T 2025, evidenciando resistencia en medio de la volatilidad del mercado. El valor patrimonial neto por acción fue de $18.19 al 30 de junio de 2025, ligeramente por debajo de $18.33 en el 1T. Entre las métricas clave se registró un beneficio GAAP de $3.5 millones ($0.52 por acción) y un ingreso neto por inversiones de $3.1 millones ($0.46 por acción).
La cartera de CLO mantuvo un rendimiento efectivo medio ponderado del 12.75%, por debajo del 15.57% en el 1T debido a la compresión de los diferenciales de préstamos en el mercado. Entre las características destacadas, el 95% de las CLO tiene fechas de reinversión entre 2026 y 2030, con exposición a 1.285 obligados corporativos únicos. El apalancamiento de la empresa fue de $40.4 millones, equivalente al 24.3% del total de activos.
Mirando adelante, PDCC ha declarado dividendos mensuales de $0.22 por acción para agosto, septiembre y octubre de 2025; el NAV de julio 2025 mostró un incremento del 1.6% hasta $18.48 por acción.
Pearl Diver Credit Company (NYSE: PDCC)는 시장 변동성 속에서도 견조한 모습을 보이며 2025년 2분기 실적을 발표했습니다. 주당 순자산가치(NAV)는 2025년 6월 30일 기준 $18.19로 1분기의 $18.33보다 소폭 하락했습니다. 주요 재무 지표로는 GAAP 기준 순이익 $350만($주당 $0.52)과 순투자수익 $310만($주당 $0.46)이 포함됩니다.
회사의 CLO 포트폴리오는 가중평균 실효수익률 12.75%을 유지했으며, 이는 대출 스프레드 축소로 1분기의 15.57%에서 하락한 수치입니다. 포트폴리오 특징으로는 95%의 CLO가 2026~2030년 사이에 재투자일을 가지고 있고, 1,285개의 개별 기업 채무자에 노출되어 있습니다. 회사의 레버리지는 $40.4백만으로 총자산의 24.3%를 차지했습니다.
향후 PDCC는 2025년 8월, 9월, 10월에 대해 주당 $0.22의 월배당을 선언했으며, 2025년 7월 NAV는 1.6% 상승해 주당 $18.48을 기록했습니다.
Pearl Diver Credit Company (NYSE: PDCC) a publié ses résultats du 2e trimestre 2025, faisant preuve de résilience malgré la volatilité des marchés. La valeur nette d'inventaire par action (NAV) s'élevait à $18,19 au 30 juin 2025, en légère baisse par rapport à $18,33 au T1. Parmi les indicateurs clés figurent un résultat net selon les normes GAAP de $3,5 millions ($0,52 par action) et un revenu net d'investissement de $3,1 millions ($0,46 par action).
Le portefeuille de CLO a maintenu un rendement effectif moyen pondéré de 12,75%, en recul par rapport à 15,57% au T1 en raison de la compression des spreads de prêt sur le marché. Parmi les caractéristiques notables, 95% des CLO ont des dates de réinvestissement entre 2026 et 2030, avec une exposition à 1 285 débiteurs corporatifs distincts. L'effet de levier de la société s'établissait à $40,4 millions, soit 24,3% de l'actif total.
Pour l'avenir, PDCC a déclaré des dividendes mensuels de $0,22 par action pour août, septembre et octobre 2025 ; le NAV de juillet 2025 a affiché une hausse de 1,6% à $18,48 par action.
Pearl Diver Credit Company (NYSE: PDCC) veröffentlichte seine Finanzergebnisse für das zweite Quartal 2025 und zeigte dabei Widerstandskraft trotz Marktvolatilität. Der Nettoinventarwert (NAV) je Aktie lag zum 30. Juni 2025 bei $18,19, leicht unter $18,33 im ersten Quartal. Zu den wichtigsten Kennzahlen zählen ein GAAP-Nettoergebnis von $3,5 Mio. ($0,52 je Aktie) und ein Nettoanlageertrag von $3,1 Mio. ($0,46 je Aktie).
Das CLO-Portfolio erzielte eine gewichtete durchschnittliche Effektivrendite von 12,75%, nach 15,57% im 1. Quartal, bedingt durch die branchenweiten Spreadeinengungen bei Krediten. Hervorzuheben ist, dass 95% der CLOs Reinvestitionsdaten zwischen 2026 und 2030 haben und das Portfolio gegenüber 1.285 einzelnen Unternehmensschuldnern exponiert ist. Der Verschuldungsgrad belief sich auf $40,4 Mio., was 24,3% der Bilanzsumme entspricht.
Ausblick: PDCC hat monatliche Dividenden in Höhe von $0,22 je Aktie für August, September und Oktober 2025 angekündigt; der NAV für Juli 2025 stieg um 1,6% auf $18,48 je Aktie.
- Net asset value increased 1.6% to $18.48 in July 2025
- Strong recurring cash flows of $8.0 million ($1.18 per share) from CLO investments
- Diversified portfolio with exposure to 1,285 unique corporate obligors
- 95% of CLOs have reinvestment flexibility through 2026-2030
- Maintained stable monthly dividend of $0.22 per share
- Net asset value declined from $18.33 to $18.19 in Q2
- Portfolio yield decreased to 12.75% from 15.57% due to loan spread compression
- Leverage ratio increased to 24.3% from 23.2% of total assets
Insights
Pearl Diver delivered stable Q2 results amid market volatility with solid NAV preservation and continued CLO equity investment strategy momentum.
Pearl Diver Credit Company maintained relative stability in Q2 2025 despite challenging market conditions. The company's NAV per share declined only slightly to
The company generated GAAP net income of
Pearl Diver's CLO portfolio generated recurring cash flows of
The company maintained consistent leverage at
Looking forward, Pearl Diver's portfolio structure provides flexibility with
The diversification across 1,285 unique corporate obligors with the largest representing only
- Company to Host Conference Call and Webcast at 11:00 AM ET Today -
"The Company delivered a solid second quarter, particularly given the ongoing volatility in the macro environment, and our momentum has carried forward into July," said Indranil Basu, Chief Executive Officer of Pearl Diver Credit Company. "For the quarter, we were able to keep our net asset value per share relatively steady, while our differentiated machine learning and data science-driven approach to CLO equity investing enabled us to add select new positions to our portfolio that we believe will produce attractive risk-adjusted returns. Looking ahead, we remain focused on our tried-and-tested CLO equity investment strategy that we believe will continue to deliver value for our shareholders."
Second Quarter 2025 Highlights
- Net asset value per share of common stock was
$18.19 $18.33 - GAAP net income for the quarter was
$3.5 million $0.52 - Net investment income for the quarter was
$3.1 million $0.46 - Investment income for the quarter was
$5.5 million $0.81 - Expenses for the quarter were
$2.4 million $0.35 - Net change in unrealized appreciation on investments was
$0.5 million $0.07 $9.6 million $1.41 - Recurring cash flows from CLO investments for the quarter ended June 30, 2025 were
$8.0 million $1.18 - The Company had leverage of
$40.4 million 24.3% of total assets as of June 30, 2025. As of March 31, 2025, leverage was$40.4 million 23.2% of total assets. - As of June 30, 2025:
- The weighted average effective yield of the Company's collateralized loan obligation ("CLO") portfolio, based on amortized cost, was
12.75% , compared to15.57% as of March 31, 2025, as a result of market-wide loan spread compression caused by loan repricing. 95% of CLOs in the portfolio have reinvestment end dates from 2026 through 2030, resulting in upside potential as CLO managers can take advantage of market volatility to reinvest in loans at favorable prices.
- The weighted average effective yield of the Company's collateralized loan obligation ("CLO") portfolio, based on amortized cost, was
- As of June 30, 2025, on a look-through basis, and based on the most recent trustee reports received by such date:
- The Company, through its CLO investments, had indirect exposure to approximately 1,285 unique corporate obligors and over 1,800 underlying loans, totaling
$24.4 billion - The largest look-through obligor represented
0.7% of the loans underlying the Company's CLO equity portfolio. - The top ten largest look-through obligors together represented
4.7% of the loans underlying the Company's CLO portfolio.
- The Company, through its CLO investments, had indirect exposure to approximately 1,285 unique corporate obligors and over 1,800 underlying loans, totaling
Third Quarter 2025 Update
- Net asset value per share of common stock was
$18.48 1.6% increase compared to June 30, 2025. - Declared monthly dividends of
$0.22
Conference Call
As previously announced, Pearl Diver Credit Company Inc. will host a conference call to discuss its second quarter 2025 results today, August 26, 2025 at 11:00 a.m. Eastern Time / 4:00pm
A replay of the conference call will be available within two hours of the conclusion of the call and can be accessed online on the website.
About Pearl Diver Credit Company Inc.
Pearl Diver Credit Company Inc. (NYSE: PDCC, PDPA) is an externally managed, non-diversified, closed-end management investment company. Its primary investment objective is to maximize its portfolio's total return, with a secondary objective of generating high current income. The Company seeks to achieve these objectives by investing primarily in equity and junior debt tranches of CLOs collateralized by portfolios of sub-investment grade, senior secured floating-rate debt issued by a large number of distinct US companies across several industry sectors. The Company is externally managed by Pearl Diver Capital LLP. For more information, visit www.pearldivercreditcompany.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company's other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Investor Contact:
PR.IR@Pearldivercap.com
US: +1 617 872 0945
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SOURCE Pearl Diver Credit Company Inc.
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