Investcorp Credit Management BDC reported a quarterly earnings miss on Thursday, with adjusted earnings per share declining $0.12 below analyst estimates. The business development company cited weaker net investment income as the primary driver of the shortfall.
Revenue also trailed expectations, reflecting broader market volatility and reduced deal flow in the credit markets. The company did not provide updated guidance in its earnings release.
Investcorp Credit Management BDC, which focuses on middle-market lending, has faced pressure from rising interest rates and a slowdown in refinancing activity. The earnings miss follows a period of elevated volatility in corporate credit, with spreads widening in recent months.
Shares of the BDC were down modestly in after-hours trading following the release. The company’s portfolio remains exposed to higher-yielding credit assets, which have come under pressure as borrowing costs rise.
