Capital Southwest ( NASDAQ: CSWC ) fiscal Q2 net investment income per share topped the average analyst estimate as the business development company's portfolio performed well and its deal activity remained strong.
Fiscal Q2 net investment income of $0.52 per share , vs. $0.51 consensus, rose from $0.49 per share in its previous quarter and from $0.43 in the year-ago quarter. The company had previously said it expected to report Q2 net investment income of $0.50-$0.53 per share
Net asset value per share of $16.53 at Sept. 30, down a penny from $16.54 on June 30. On Oct. 7, the company estimated its NAV per share of $16.45-$16.60.
Q2 total investment income of $26.8M, exceeding the $25.6M consensus, rose from $22.5M in Q1 and from $20.3M in the year-ago quarter.
Q2 interest expense was $6.6M increased from $5.5M in Q1 and from $5.4M in Q2 2021.
During the quarter ended Sept. 30, 2022, Capital Southwest ( CSWC ) originated $85.7M in new commitments, received full prepayments on two debt investments totaling $13.9M and proceeds from the sale of one debt investment totaling $0.7M.
In the quarter, CSWC raised $26.9M in gross proceeds at 118% of its prevailing NAV per share through its equity at-the-market program.
Conference call on Nov. 1 at 11:00 AM ET.
The company posted preliminar y Q2 operating results earlier this month.
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Capital Southwest fiscal Q2 results grow on portfolio performance, deal activity