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TCG BDC Earnings Calls
| Release date | May 11, 2026 |
| EPS estimate | $0.350 |
| EPS actual | $0.360 |
| EPS Surprise | 2.86% |
| Revenue estimate | 65.784M |
| Revenue actual | 64.079M |
| Revenue Surprise | -2.59% |
| Release date | Feb 24, 2026 |
| EPS estimate | $0.380 |
| EPS actual | $0.330 |
| EPS Surprise | -13.16% |
| Revenue estimate | 66.642M |
| Revenue actual | 66.913M |
| Revenue Surprise | 0.407% |
| Release date | Nov 04, 2025 |
| EPS estimate | $0.390 |
| EPS actual | $0.380 |
| EPS Surprise | -2.56% |
| Revenue estimate | 67.256M |
| Revenue actual | 48.822M |
| Revenue Surprise | -27.41% |
| Release date | Aug 05, 2025 |
| EPS estimate | $0.390 |
| EPS actual | $0.390 |
| Revenue estimate | 66.701M |
| Revenue actual | 64.453M |
| Revenue Surprise | -3.37% |
Last 4 Quarters for TCG BDC
Below you can see how CGBD performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Aug 05, 2025 |
| Price on release | $13.74 |
| EPS estimate | $0.390 |
| EPS actual | $0.390 |
| Date | Price |
|---|---|
| Jul 30, 2025 | $13.98 |
| Jul 31, 2025 | $13.79 |
| Aug 01, 2025 | $13.70 |
| Aug 04, 2025 | $13.71 |
| Aug 05, 2025 | $13.74 |
| Aug 06, 2025 | $13.60 |
| Aug 07, 2025 | $13.66 |
| Aug 08, 2025 | $13.93 |
| Aug 11, 2025 | $13.82 |
| 4 days before | -1.72% |
| 4 days after | 0.582% |
| On release day | -1.02% |
| Change in period | -1.14% |
| Release date | Nov 04, 2025 |
| Price on release | $12.47 |
| EPS estimate | $0.390 |
| EPS actual | $0.380 |
| EPS surprise | -2.56% |
| Date | Price |
|---|---|
| Oct 29, 2025 | $12.79 |
| Oct 30, 2025 | $12.56 |
| Oct 31, 2025 | $12.64 |
| Nov 03, 2025 | $12.62 |
| Nov 04, 2025 | $12.47 |
| Nov 05, 2025 | $12.13 |
| Nov 06, 2025 | $11.93 |
| Nov 07, 2025 | $11.98 |
| Nov 10, 2025 | $11.87 |
| 4 days before | -2.50% |
| 4 days after | -4.81% |
| On release day | -2.73% |
| Change in period | -7.19% |
| Release date | Feb 24, 2026 |
| Price on release | $11.45 |
| EPS estimate | $0.380 |
| EPS actual | $0.330 |
| EPS surprise | -13.16% |
| Date | Price |
|---|---|
| Feb 18, 2026 | $11.79 |
| Feb 19, 2026 | $11.64 |
| Feb 20, 2026 | $11.54 |
| Feb 23, 2026 | $11.10 |
| Feb 24, 2026 | $11.45 |
| Feb 25, 2026 | $11.37 |
| Feb 26, 2026 | $11.58 |
| Feb 27, 2026 | $11.12 |
| Mar 02, 2026 | $11.16 |
| 4 days before | -2.88% |
| 4 days after | -2.53% |
| On release day | -0.699% |
| Change in period | -5.34% |
| Release date | May 11, 2026 |
| Price on release | $11.38 |
| EPS estimate | $0.350 |
| EPS actual | $0.360 |
| EPS surprise | 2.86% |
| Date | Price |
|---|---|
| May 05, 2026 | $12.09 |
| May 06, 2026 | $11.88 |
| May 07, 2026 | $11.78 |
| May 08, 2026 | $11.52 |
| May 11, 2026 | $11.38 |
| May 12, 2026 | $11.25 |
| May 13, 2026 | $11.12 |
| May 14, 2026 | $11.21 |
| May 15, 2026 | $11.20 |
| 4 days before | -5.87% |
| 4 days after | -1.58% |
| On release day | -1.14% |
| Change in period | -7.36% |
TCG BDC Earnings Call Transcript Summary of Q1 2026
Carlyle Secured Lending (CGBD) reported Q1 2026 results with solid origination activity across the Carlyle Direct Lending platform despite market volatility. CGBD funded $217M directly and platform commitments exceeded $1.2B, with platform originations up 14% year-over-year while U.S. PE deal activity declined. New deal spreads widened roughly 50 bps versus Q4 (average Q4 ~475bps) and first‑lien deals launched with lower leverage. Repayments and $153M of sales to the MMCF JV reduced CGBD’s held investments from $2.5B to $2.3B during the quarter, but management expects portfolio growth in Q2 given a strong pipeline. Net investment income was $0.36 per share (GAAP and adjusted); NAV fell to $15.89 from $16.26 primarily from market-related valuation moves. The board reset the base dividend to $0.35/share for Q2 (from $0.40) while maintaining a supplemental dividend policy to pay at least 50% of excess earnings. Management highlighted stable credit metrics: nonaccruals at 0.9% of fair value, portfolio diversification (171 companies, >25 industries), 94% senior secured loans, and median EBITDA of $100M. CGBD is prioritizing ramping two JVs—MMCF (now >$1B invested and achieving ~15% dividend yield) and SCP (structured credit/CLO JV with $600M equity commitments and CGBD $150M commitment)—which management expects to drive earnings upside as they scale. Leverage is conservative (statutory 1.25x, net ~1.06x after adjustments), debt is 100% floating-rate, and the company repurchased $19M of stock in Q1 at a ~26% discount (plus $8M additional repurchases in Q2 to date). Management expects earnings to trough in Q2 as JV ramping and portfolio dynamics play out, then recover in subsequent quarters.
