Aug 21, 2026 earnings call — Valley Electric sale and AI profit plans
Closed sale of Valley Electric for approximately $328 million, with realized gross annualized IRR of 20.5% and 4.8x multiple.
Revenue $0.2B (est $0.1B) · EPS $0.15 (est $0.11)
Key quotes
"Our middle market lending strategy is the primary focus of our company with such strategy as of June representing 85% of our investments at cost."
"We believe our prudent leverage, diversified access to matched book funding, substantial majority of unencumbered assets, weighting toward unsecured fixed rate debt and avoidance of unfunded asset commitments all demonstrate balance sheet strength as well as substantial liquidity to capitalize on attractive opportunities."
"We view artificial intelligence as a transformational once-in-a-generation opportunity to enhance profitability and build on our long-standing culture of innovation and first-to-market leadership in the alternative asset management, direct lending and business development company industries."