Capital Southwest Announces Preliminary Estimate of Second Quarter 2023 Operating Results and Earnings Release and Conference Call Schedule
07 October 2022 - 11:48PM
Capital Southwest Corporation (“Capital Southwest,” the “Company”
or “we”) (Nasdaq: CSWC), an internally managed business development
company focused on providing flexible financing solutions to
support the acquisition and growth of middle market businesses, is
pleased to announce its preliminary operating results for the
second quarter of its 2023 fiscal year (quarter ended September 30,
2022) and its second quarter 2023 earnings release and conference
call schedule.
Capital Southwest’s preliminary estimate of its
second quarter 2023 pre-tax net investment income is in the range
of $0.52 to $0.54 per share. The preliminary estimate of its net
investment income for the same period is in the range of $0.50 to
$0.53 per share. Additionally, Capital Southwest’s preliminary
estimate of its net asset value per share as of September 30, 2022
is in the range of $16.45 to $16.60.
Capital Southwest will release its finalized
second quarter 2023 results on Monday, October 31, 2022, after the
market closes. In conjunction with the release, Capital Southwest
has scheduled a live webcast on Tuesday, November 1, 2022, at 11:00
a.m. Eastern time. Investors may participate in the webcast.(1)
By Webcast: Connect to the
webcast using the Investor Relations section of Capital Southwest's
website at www.capitalsouthwest.com, or by going to the following
web-page https://edge.media-server.com/mmc/p/gmxd6ax5. Please log
in at least 10 minutes in advance to register and download any
necessary software. A replay of the webcast will be available on
Capital Southwest's website shortly after the call.
Live Call
Participation:Participants who want to join the call and
ask a question must register using the following URL:
https://register.vevent.com/register/BI9cd10387b3354e7095370651b4fef8b3.
Once registered, participants will receive the dial-in numbers and
a unique PIN number. When participants dial in, they will input
their PIN and be placed into the call. Registration is still
possible even after the event has started.
About Capital Southwest
Capital Southwest Corporation (Nasdaq: CSWC) is
a Dallas, Texas-based, internally managed business development
company with approximately $1.0 billion in investments at fair
value as of June 30, 2022. Capital Southwest is a middle market
lending firm focused on supporting the acquisition and growth of
middle market businesses with $5 million to $35 million investments
across the capital structure, including first lien, second lien,
and non-control equity co-investments. As a public company with a
permanent capital base, Capital Southwest has the flexibility to be
creative in its financing solutions and to invest to support the
growth of its portfolio companies over long periods of time.
Forward-Looking Statements
This press release contains forward-looking
statements and provides historical information with respect to the
business and investments of Capital Southwest, including, but not
limited to, the preliminary estimates of its second quarter 2023
fiscal year financial information and results, which are based on
current information available to Capital Southwest as of the date
hereof. The preliminary estimates of the second quarter 2023 fiscal
year financial information and estimated results furnished above
are based on Capital Southwest management’s preliminary
determinations and current expectations, and such information is
inherently uncertain. The preliminary estimates may not align with
Capital Southwest’s actual results of operations for the period,
which will not be known until Capital Southwest completes its
customary quarter-end closing, including the determination of the
fair value of Capital Southwest’s portfolio investments. As a
result, actual results could differ materially from the current
preliminary estimates based on adjustments made during Capital
Southwest’s quarter-end closing and review procedures, and Capital
Southwest’s reported information in its Quarterly Report on Form
10-Q for the quarter ended September 30, 2022 may differ from this
information, and any such differences may be material. In addition,
the information furnished above does not include all of the
information regarding Capital Southwest’s financial condition and
results of operations for the quarter ended September 30, 2022 that
may be important to readers. As a result, readers are cautioned not
to place undue reliance on the information furnished in this press
release and should view this information in the context of Capital
Southwest’s full second quarter 2023 results when such results are
disclosed by Capital Southwest in its Quarterly Report on Form 10-Q
for the quarter ended September 30, 2022. The information furnished
in this press release is based on current Capital Southwest
management expectations that involve substantial risks and
uncertainties that could cause actual results to differ materially
from the results expressed in, or implied by, such information.
Forward-looking statements are statements that
are not historical statements and can often be identified by words
such as "will," "believe," "expect" and similar expressions and
variations or negatives of these words. These statements are based
on management's current expectations, assumptions and beliefs. They
are not guarantees of future results and are subject to numerous
risks, uncertainties and assumptions that could cause actual
results to differ materially from those expressed in any
forward-looking statement. These risks include risks related to:
changes in the markets in which Capital Southwest invests; changes
in the financial, capital, and lending markets; changes in the
interest rate environment; regulatory changes; tax treatment and
general economic and business conditions; our ability to operate
our wholly owned subsidiary, Capital Southwest SBIC I, LP, as a
small business investment company; and uncertainties associated
with impact from the COVID-19 pandemic, including its impact on the
global and U.S. capital markets and the global and U.S. economy,
the length and duration of the COVID-19 outbreak in the United
States as well as worldwide and the magnitude of the economic
impact of that outbreak; the effect of the COVID-19 pandemic on our
business prospects and the operational and financial performance of
our portfolio companies, including our ability and their ability to
achieve their respective objectives, and the effects of the
disruptions caused by the COVID-19 pandemic on our ability to
continue to effectively manage our business.
Readers should not place undue reliance on any
forward-looking statements and are encouraged to review Capital
Southwest's Annual Report on Form 10-K for the year ended March 31,
2022 and subsequent filings, including the "Risk Factors" sections
therein, with the Securities and Exchange Commission for a more
complete discussion of the risks and other factors that could
affect any forward-looking statements. Except as required by the
federal securities laws, Capital Southwest does not undertake any
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events,
changing circumstances or any other reason after the date of this
press release.
Investor Relations Contact:
Michael S. Sarner, Chief Financial Officer214-884-3829
(1) No information contained on our website or
disclosed on the November 1, 2022 conference call, including the
webcast, is incorporated by reference into this press release or
any of our filings with the SEC, and you should not consider that
information to be part of this press release or any other such
filing.
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