On its third-quarter 2026 earnings call, held on Nov. 4, 2026, Palmer Square Capital (NYSE:PSBD) announced net investment income, which represents net profit earned from portfolio investments after operating expenses, of $0.38 per share. The business development company, an entity that provides loans to middle-market companies, is prioritizing balance sheet flexibility and disciplined capital allocation to protect shareholder value. Three takeaways from management outline its operational direction. Management bought back $5.2 million of common stock during the third quarter because shares traded at a discount to net asset value, which is the total value of assets minus liabilities. Repurchasing equity increases per-share ownership for existing shareholders without forcing capital into lower-yielding new debt. The firm reset its collateralized loan obligation, a debt security backed by a pool of corporate loans, to lower its borrowing spread over the Secured Overnight Financing Rate, a benchmark interest rate. It also reduced unused line capacity on its credit facility to trim fee expenses while preserving borrowing liquidity.
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