Capital Southwest estimates pretax investment income of $0.58 to $0.59 a share
Key Facts
Capital Southwest estimated pretax net investment income of $0.58 to $0.59 a share for the quarter ended September 30, 2026, according to its filing with the U.S. Securities and Exchange Commission. The estimates cover the company's second quarter of fiscal 2027, with final results due in November. The company estimated net investment income of $0.56 to $0.57 a share for the same period. That range falls below total declared quarterly dividends of $0.64 a share, according to the company's previous earnings call, as reported by Investing.com. The declared dividends include a supplemental payment of $0.06 a share within the total. Total dividends therefore also exceed the upper end of the quarter's pretax investment income estimates.
Capital Southwest's estimates point to an improvement in pretax investment income from the quarter ended in June, when it stood at $0.57 a share, according to the company's earnings presentation, as reported by Investing.com. On the balance sheet, the company estimated its net asset value at the end of September at $16.62 to $16.67 a share. That compares with net asset value of $16.61 a share at the end of June, putting the entire new estimated range above the previous quarter's level. The weighted average yield on the company's debt investments stood at 10.9% at the end of the June quarter. The company described its September estimates in the filing as "inherently uncertain." It warned that actual results could differ after completion of closing procedures, review and investment valuations.
At Nuveen Churchill Direct Lending, which is also preparing to report September-quarter results, net investment income in the preceding June quarter was $0.41 a share, according to its SEC filing. The company set its September-quarter dividend at $0.38 a share, according to the earnings call, as reported by Investing.com. Nuveen Churchill ended June with net asset value of $17.19 a share, compared with $17.50 at the end of March. The company attributed the year-over-year decline in yields on debt investments and income-producing investments primarily to lower base interest rates. It said in its filing that the decline was "primarily due to lower base interest rates." The forthcoming September results cover Nuveen Churchill's third quarter of 2026, while the same period represents a different fiscal quarter for Capital Southwest.
On Nuveen Churchill's portfolio quality, investments in 9 companies were on non-accrual status at the end of June, according to its earnings presentation, as reported by Investing.com. Those investments represented 1.5% of the portfolio's fair value and 2.7% of its cost. On the financing side, the company closed an additional offering of unsecured notes in July with an aggregate principal amount of $100 million. The notes carry an interest rate of 6.650% and mature in 2030, according to Investing.com's report on the offering's closing. Net proceeds were approximately $99.4 million after underwriting costs and estimated expenses. In premarket trading associated with its previous earnings release on August 6, 2026, the company's shares rose 1.04% to $12.63, according to Investing.com's coverage at the time.
The upcoming reporting schedule begins with Capital Southwest releasing its final results on November 2, 2026, after the market close, according to the earnings schedule reported by Investing.com. Nuveen Churchill will follow with third-quarter results before the market opens on November 3, 2026, according to the company's earnings announcement notice. Nuveen Churchill will hold its conference call the same day at 10 a.m. U.S. Eastern time. Capital Southwest will then hold its earnings call and webcast at 11 a.m. in the same time zone. Capital Southwest's call will discuss results for the second fiscal quarter ended in September. Nuveen Churchill's call will cover third-quarter results for the same year.