Great Elm Capital Q1 NII per share rises qtr/qtr

Great Elm Capital

04/05/2026 21:34

Overview

US business development company reported Q1 net investment income per share up 13% qtr/qtr

Q1 net asset value per share fell to $7.74 from $8.07 at prior quarter end

Company repurchased about 1% of shares at 36% discount to March 31 NAV

Outlook

Company declares Q2 2026 dividend of $0.25 per share

Company says it maintains strong liquidity with $10 mln cash and $50 mln credit facility

Company says capital deployment remains measured amid tight spread environment

Result Drivers

INCENTIVE FEE WAIVER - NII increased qtr/qtr despite lower investment income, mainly due to the investment adviser waiving $2.8 mln in accrued incentive fees through March 31, 2026

LOWER CLO DISTRIBUTIONS - Cash distributions from the CLO JV fell to $2.5 mln from $4.3 mln in the prior qtr, contributing to lower total investment income

UNREALIZED LOSSES - Decline in NAV per share from previous quarter was mainly driven by unrealized losses from mark-to-market volatility, partially offset by realized gains and the incentive fee waiver

Company press release: ID:nGNX56Frq1

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.05
Q1 Net Asset Value Per Share
$7.74


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the closed end funds peer group is "hold"

Wall Street's median 12-month price target for Great Elm Capital Corp is $7.75, about 39.4% above its May 1 closing price of $5.56

The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 5 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)