Golub Capital Middle Market Report
Featuring the Golub Capital Altman Index
Earnings in the U.S. Middle Market Grew by nearly 13% in Q2 2018, According to the Golub Capital Middle Market Report
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 Q2 2018 (YoY)||Revenue||Earnings|
Lawrence E. Golub, CEO of Golub Capital, said:
The last three quarters in a row have set three records in a row for the highest revenue growth since inception of the Golub Capital Altman Index in 2012. Q4 2017 was the best fourth quarter, Q1 2018 was the best first quarter and now Q2 2018 was the best second quarter. In the second quarter of 2018, all sectors showed accelerating earnings growth compared to the first quarter, even as they maintained revenue growth at or near double-digit rates. This suggests middle market companies’ efforts to control costs are paying off in the form of better margins. Our data gave early insight into the pickup of economic growth that began last year and today’s results suggest the U.S. economy is on track for second quarter GDP growth of 3.5% to 4.0%.
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.