Golub Capital Middle Market Report
Featuring the Golub Capital Altman Index
Earnings in the U.S. Middle Market Grew by 13% in Q4 2018
Revenue grew by 11% in Q4 2018
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 Q4 2018 (YoY)||Revenue||Earnings|
Lawrence E. Golub, CEO of Golub Capital, said:
The strong earnings growth in our sample of U.S. middle market companies shows American business is still booming. The Golub Capital Altman Index posted the highest rate of earnings growth since its inception, as well as double-digit revenue growth for the fifth consecutive quarter. Our data suggests the market’s concerns about the outlook for growth and profits may be overblown. There is a lot of momentum in the U.S. economy that is offsetting in Q4 the impact of tariffs, the U.S. government shutdown and market volatility. We expect to see Q4 GDP growth of about 3%, beating current estimates.
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.