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Stellus Capital Investment
Stellus Capital Investment (SCM) investor relations material
Stellus Capital Investment Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary12 May, 2026
Executive summary
Net investment income for Q1 2026 was $7.5 million ($0.26 per share), with core net investment income at $0.27 per share and net realized income at $0.29 per share.
Portfolio at fair value was $990 million across 116 companies, with 90% in first lien debt and 9% in equity investments.
Net asset value per share was $12.54 at March 31, 2026, down from $12.82 at year-end 2025, reflecting dividend payments exceeding earnings and net realized/unrealized losses.
Distributions declared for Q1 2026 totaled $0.34 per share, with regular monthly dividends declared for Q2 2026.
Realized gains of $0.8 million were recorded, with total realized income of $0.29 per share.
Financial highlights
Total investment income for Q1 2026 was $23.3 million, primarily from interest on portfolio investments.
Operating expenses (net of fee waivers) were $15.8 million, with management fees at $4.4 million and borrowing-related fees at $8.9 million.
Invested $18 million in 3 new companies and had $9 million in other investment activity at par in Q1 2026; funded $28 million in new investments and received $42 million in repayments.
Net change in unrealized depreciation was $(6.5) million, compared to $1.2 million appreciation in Q1 2025.
Net increase in net assets from operations was $1.7 million ($0.06 per share), down from $5.0 million ($0.18 per share) in the prior year period.
Outlook and guidance
Portfolio expected to remain around $970 million for Q2 2026, with repayments matching new fundings.
Estimated $9 million in realizations for the remainder of 2026, with $6 million in realized gains.
Regular monthly dividends of $0.1133 per share declared for April, May, and June 2026.
Dividend expected to align with net investment income plus realized gains, likely at a lower level than current dividend.
Management continues to observe macroeconomic uncertainty due to labor shortages, inflation, fluctuating rates, and geopolitical instability.
Explain the 30 bps decline in debt portfolio yield
Drivers of the 50% year-over-year PIK income drop
Factors behind the $6.5M unrealized depreciation
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Latest events from Stellus Capital Investment
- Shareholders can vote by phone for the June 16, 2026 meeting, with board-backed proposals.SCM
Proxy filing4 May 2026 - Shareholders can securely vote online for the June 16, 2026 meeting using unique credentials.SCMProxy filing24 Apr 2026
- Shareholders to vote on director re-election and unchanged advisory agreement after adviser change.SCMProxy filing16 Apr 2026
- Q4 2025 net investment income was $8.4M, with a $20M share repurchase program announced.SCMQ4 202515 Apr 2026
- Shareholders to vote on director re-election and unchanged advisory agreement after advisor acquisition.SCMProxy filing27 Mar 2026
- Net investment income was $0.32/share as portfolio hit $1.01B and NAV per share reached $13.05.SCMQ3 202516 Mar 2026
- Q2 net investment income exceeded dividends as portfolio and NAV grew, with stable asset quality.SCMQ2 20242 Feb 2026
- Net assets and portfolio value grew, with robust income and a $0.40 dividend declared.SCMQ3 202415 Jan 2026
- Q4 2024 net investment income was $0.35/share, portfolio value reached $953.5 million, and NAV rose to $13.46.SCMQ4 202428 Dec 2025
Next Stellus Capital Investment earnings date
Q2 20266 Aug, 2026
Stellus Capital Investment
Next Stellus Capital Investment earnings date
Q2 20266 Aug, 2026
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