Golub Capital Middle Market Report
Featuring the Golub Capital Altman Index
Earnings in the U.S. Middle Market Grew by nearly 10% in Q1 2019
Revenue grew by 9% in Q1 2019
The Golub Capital Altman Index can provide early insight into financial performance of public companies and GDP in advance of earnings season
Golub Capital Altman Index Highlights
|Year-Over-Year ("YoY") Growth||Revenue||Earnings|
|Key Sectors Q1 2019 (YoY)||Revenue||Earnings|
Lawrence E. Golub, CEO of Golub Capital, said:
U.S. businesses selling primarily in the domestic market are in great shape. The Golub Capital Altman Index posted nearly double-digit revenue and earnings growth in Q1, despite the U.S. government shutdown for most of January. The Technology sector, which for us consists primarily of business-to-business software companies, remains the standout, extending a nine-quarter streak of double-digit revenue growth and a four-quarter streak of double-digit earnings growth. These signs of fundamental strength, together with low unemployment, stable inflation and a moderating pace of wage growth, suggest the U.S. economy may not need additional support from the Fed in 2019.
About the Golub Capital Altman Index
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- The Golub Capital Altman Index (GCAI) data for Q2 2021 are presented solely for the purpose of continuity. Readers are encouraged to interpret the data from those periods with caution. The GCAI is designed to offer early insight into the performance of the U.S. economy, based on data from the first two months of each calendar quarter. GCAI results for Q2 2021 were based on data from April and May 2021 compared to April and May 2020, when many businesses were affected by lockdowns and other restrictions.
- Effective Q2 2022, the Golub Capital Altman Index (GCAI) excludes Golub Capital portfolio companies that have recurring revenue-based credit facilities. The data referenced herein may not reflect all companies in the loan portfolio of Golub Capital during the time periods indicated.