Nuveen Churchill Direct Lending Corp. (NCDL), initially formed as a Delaware limited liability company on March 13, 2018, and subsequently restructured into ...
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$0.00 per share
Est. EPS $0.38 · Revenue $43.72M · 3 analysts
Est. EPS $0.38 · Revenue $43.70M · 5 analysts
Est. EPS $1.58 · Revenue $177.98M · 3 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $201.8M | +8.5% | +15.3% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $65.6M | -43.6% | -58.6% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +84.9% | +41.7% | +86.2% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +71.2% | +13.7% | +88.9% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +32.5% | -48.0% | -64.1% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $194.2M | +42.3% | +515.8% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +96.2% | +31.1% | +434.1% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 127.4% | +11.6% | -2.6% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | — | — | — |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $2.1B | -4.2% | -3.0% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 1.30 vs 1.73 | -24.8% | 0.07 vs 0.38 | -81.0% |
| Revenue Surprise | $201.8M vs $207.4M | -2.7% | $33.1M vs $43.7M | -24.4% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| May 15, 2026 | McCally John | officer: Vice President & Secretary | Common Stock | A | 7,500 | $13.27 |
| May 14, 2026 | Vichness Shaul | officer: Chief Financial Off./Treasurer | Common Stock | A | 5,000 | $13.20 |
| May 12, 2026 | Hassen Marissa | officer: Chief Accounting Officer | Common Stock | A | 3,782 | $13.21 |
| Apr 27, 2026 | Vichness Shaul | officer: Chief Financial Off./Treasurer | Common Stock | A | 386 | $14.18 |
| Mar 12, 2026 | Vichness Shaul | officer: Chief Financial Off./Treasurer | Common Stock | A | 5,000 | $13.13 |
Operator: Welcome to Nuveen Churchill Direct Lending Corp.'s Second Quarter 2026 Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded for replay purposes. I'd now like to turn the call over to Robert Paun, Head of Investor Relations for NCDL. Robert, please go ahead. Robert Paun: Good morning, and welcome to Nuveen Churchill Direct Lending Corp.'s Second Quarter 2026 Earnings Call. Today, I'm joined by NCDL's Chairman, President and CEO, Ken Kencel; and Chief Financial Officer and Treasurer, Shai Vichness. Following our prepared remarks, we will be available to take your questions. Today's call may include forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates, and projections about the company, our current and prospective portfolio investments, our industry, our beliefs and opinions and our assumptions. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict. Actual results may differ materially from those expressed or forecasted in the forward-looking statements. We ask that you refer to the company's most recent filings with the SEC for important risk factors. Any forward-looking statements made today do not guarantee future performance, and undue reliance should not be placed on them. The company assumes no obligation to update any forward-looking statements at any time. Our earnings release, 10-Q and supplemental earnings presentation are available on the News and Investors section of our website at ncdl.com. Now I would like to turn the call over to Ken. Kenneth Kencel: Thank you, Robert. Good morning, everyone, and thank you for joining us today. During my prepared remarks, I will start with a discussion of our second quarter results, followed by some comments and thoughts on the current market environment, our portfolio positioning and the strategic initiative that occurred post quarter end. First, I'd like to start by reviewing our financial results for the quarter. Overall, we continue to be pleased with the operating performance of NCDL and our investment portfolio despite a challenging market environment. This morning, we reported second quarter net investment income of $0.41 per share, fully covering our $0.36 per share base quarterly distribution. Based on our results, the Board has declared a total third quarter distribution of $0.38 per share, consisting of a regular quarterly distribution of $0.36 per share and a supplemental distribution of $0.02 per share. During the quarter, gross originations totaled approximately $12 million compared to $83 million in the first quarter of this year. The decline in gross originations quarter-over-quarter was driven …
| Name | Title | Gender | Year Born | Status |
|---|---|---|---|---|
Marc Gonyea | Managing Director of Business Development | Male | — | Active |
Kenneth John Kencel | Chief Executive Officer, President & Chairman | Male | 1959 | Active |
Shaul Nmn Vichness | Chief Financial Officer & Treasurer | Male | 1983 | Active |
Charmagne Beth Kukulka | Chief Compliance Officer | Female | 1990 | Active |
Megan Vogel | Director of Human Resources | Female | — | Active |
William Thomas Huffman | Chief Executive Officer | Male | 1970 | Active |
Jessica K. Tannenbaum | MD and Head of Marketing & Communications | Female | — | Active |
Marissa Hassen | Chief Accounting Officer & Controller | Female | 1984 | Active |
Jason W. Strife | Head of Junior Capital & Private Equity Solutions | Male | — | Active |
Emily Manuel | MD, Investor Relations & Senior Lending | Female | — | Active |
Nuveen Churchill Direct Lending Corp. (NYSE: NCDL - Get Free Report) has been given an average rating of "Hold" by the five brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the
Nuveen Churchill Direct Lending NYSE: NCDL reported second-quarter net investment income of $0.41 per share, covering its $0.36 per-share base quarterly distribution, while credit challenges during the period contributed to a decline in net asset value and an increase in non-accrual investments.
Nuveen Churchill Direct Lending Corp. (NCDL) Q2 2026 Earnings Call Transcript
Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (âNCDLâ or the âCompanyâ), a business development company externally managed by its investment advise
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or the “Company”), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the “Adviser”), and by its sub-adviser, Churchill Asset Management LLC (“Churchill”), today reported financial results for the second quarter ended June 30, 2026. Financial Highlights and Recent Developments for the Quarter Ended June 30, 2026 Net investment income of $0.41 per share Net r.
