NEW YORK, Jan. 8, 2025 /PRNewswire/ -- Blue Owl Capital Corporation (NYSE: OBDC) and Blue Owl Capital Corporation III (NYSE: OBDE) today announced that each company obtained shareholder approval of all proposals related to the previously announced merger between the two companies at their respective shareholder meetings held today. Shareholders voted overwhelmingly in favor of the proposed transaction, with over 97% of OBDC votes cast and nearly 100% of OBDE votes cast, respectively, voting in favor of the ...

NEW YORK, Jan. 3, 2025 /PRNewswire/ -- Blue Owl Capital Corporation (NYSE: OBDC) and Blue Owl Capital Corporation III (NYSE: OBDE) today announced that leading independent proxy advisory firms, Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis"), have recommended that OBDE shareholders vote "FOR" the pending merger between OBDC and OBDE, and that OBDC shareholders vote "FOR" both proposals associated with the merger at upcoming special meetings on January 8, 2025. In its report ...

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Core Viewpoint - Blue Owl Capital Corporation reported weaker-than-expected third-quarter 2024 earnings, primarily due to increased expenses and lower interest income from non-controlled investments, despite a slight increase in total investment income [1][2]. Financial Performance - Earnings per share (EPS) for Q3 2024 was 47 cents, missing the Zacks Consensus Estimate by 1 cent and declining by 2 cents year-over-year [1]. - Total investment income reached $406.03 million, reflecting a year-over-year increase of 1.8% and surpassing the Zacks Consensus Estimate by 1.6% [1]. - Net investment income decreased by 2.7% year-over-year to $184.9 million, falling short of the estimate of $188.9 million [3]. - The company recorded a net income of $135.4 million in Q3 2024, down from $206.9 million in the same period last year [5]. Investment and Portfolio - Blue Owl Capital had total new investment commitments of $1.2 billion across 23 new portfolio companies and 14 existing ones [3]. - As of September 30, 2024, the company had investments in 219 portfolio companies with an aggregate fair value of $13.4 billion, resulting in an average investment size of $61.4 million per company [4]. Expenses and Cash Flow - Total expenses increased by 5.5% year-over-year to $217.6 million, exceeding the estimate of $208.9 million, driven by higher interest expenses, management fees, and general administrative expenses [4]. - Net cash used in operating activities for the first nine months of 2024 was $285.74 million, compared to $721.75 million in the prior year [7]. Balance Sheet and Debt - The company ended Q3 2024 with a cash balance of $481.3 million, down from $658.7 million at the end of 2023 [6]. - Total assets rose to $14.09 billion from $13.51 billion at the end of 2023, while debt increased to $7.74 billion from $7.08 billion [6]. Dividend and Share Repurchase - The board declared a fourth-quarter 2024 dividend of 37 cents per share, payable on or before January 15, 2025, and a supplemental dividend of 5 cents per share for Q3 2024 [8]. - A new share repurchase plan for 2024 was approved, allowing for the purchase of up to $150 million in shares, although no repurchases were made in Q3 [9].

Core Viewpoint - Blue Owl Capital Corporation reported quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.48 per share, and showing a decrease from $0.49 per share a year ago, resulting in an earnings surprise of -2.08% [1][2] Financial Performance - The company posted revenues of $406.03 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.55%, and showing an increase from $399.02 million year-over-year [2] - Over the last four quarters, Blue Owl Capital Corporation has exceeded consensus EPS estimates two times and topped consensus revenue estimates four times [2] Stock Performance - Blue Owl Capital Corporation shares have declined approximately 0.7% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [3] - The current Zacks Rank for the stock is 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.47 on revenues of $396.22 million, and for the current fiscal year, it is $1.91 on revenues of $1.59 billion [7] - The trend for estimate revisions ahead of the earnings release has been unfavorable, which may impact future stock performance [6] Industry Context - The Financial - Miscellaneous Services industry, to which Blue Owl Capital Corporation belongs, is currently ranked in the top 29% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_______to Commission File Number 814-01190 ______________________________________________ BLUE OWL CAPITAL CORPORATION ...

Core Insights - Blue Owl Capital Corporation celebrates the five-year anniversary of its investment in Wingspire Capital, which has secured over $4.5 billion in financing commitments since its inception [1][2][3] Company Overview - Wingspire Capital operates two business units: Wingspire Equipment Finance and Wingspire Corporate Finance, focusing on providing specialized financing solutions for middle-market businesses [2][3] - The company offers senior secured credit facilities of up to $200 million and currently manages over $1 billion in assets [4] Business Growth and Strategy - Blue Owl Capital Corporation plans to continue supporting Wingspire through organic growth, acquisitions, and new product offerings, capitalizing on the increasing demand for flexible financing solutions [2][3] - Wingspire has successfully completed its inaugural equipment finance asset-backed securitization (ABS), WEF 2024-1, marking a significant milestone in its growth trajectory [3] Market Position and Demand - The private credit market is evolving, with a growing demand for flexible and timely capital solutions, which Wingspire aims to address through its offerings [3][4] - Industries financed by Wingspire include automotive, healthcare, technology, and e-commerce, among others, indicating a diverse portfolio [4]

Core Viewpoint - Blue Owl Capital Corporation reported better-than-expected second-quarter earnings, driven by growing investment income and strong portfolio performance, while also announcing a merger with Blue Owl Capital Corporation III [2][3][9]. Financial Performance - The second-quarter 2024 earnings per share (EPS) was 48 cents, beating the Zacks Consensus Estimate by 1 cent, remaining flat year over year [2]. - Total investment income reached $396.8 million, a 0.6% increase year over year, and also exceeded the Zacks Consensus Estimate by 2% [2]. - Net investment income increased by 1.3% year over year to $189.1 million, surpassing estimates by 3.3% [4]. - Total expenses remained flat at $205.2 million, higher than the estimated $200.8 million, primarily due to increased interest expenses and management fees [5]. - Net income for the second quarter was $122.2 million, down from $195.6 million in the previous year [5]. Investment Commitments and Portfolio - New investment commitments totaled $3.3 billion across 25 new and 24 existing portfolio companies [4]. - As of June 30, 2024, Blue Owl Capital had investments in 212 portfolio companies with an aggregate fair value of $13.3 billion, averaging $62.9 million per investment [4]. Cash and Debt Position - Cash and restricted cash decreased to $380 million from $658.7 million at the end of 2023 [6]. - Total assets rose to $13.9 billion from $13.5 billion at the end of 2023, while debt increased to $7.4 billion from $7.1 billion [6]. Dividend and Share Repurchase - A third-quarter 2024 dividend of 37 cents per share was declared, with a supplemental dividend of 6 cents for the second quarter [8]. - A new share repurchase plan for 2024 was approved, allowing for up to $150 million in share buybacks, with no repurchases made in the second quarter [9]. Merger Agreement - Blue Owl Capital has agreed to merge with Blue Owl Capital Corporation III, with OBDC as the surviving entity, expected to enhance operational efficiency and scale while preserving credit quality [9]. Market Outlook - Estimates for Blue Owl Capital have trended upward, with a Zacks Rank of 3 (Hold), indicating expectations for an in-line return in the coming months [12].

Group 1 - Investors in Blue Owl Capital Corporation (OBDC) should monitor stock movements due to high implied volatility in the options market, particularly for the Jan 17, 2025 $3 Call option [1] - Implied volatility indicates the market's expectation of future stock movement, suggesting potential significant price changes or upcoming events that could impact the stock [2] - Blue Owl Capital Corporation holds a Zacks Rank 3 (Hold) in the Financial-Miscellaneous Services industry, which is in the top 23% of the Zacks Industry Rank [3] Group 2 - Recent analyst activity shows two analysts have raised their earnings estimates for the current quarter, while one has lowered theirs, resulting in a consensus estimate increase from 47 cents to 48 cents per share [3] - The high implied volatility may indicate a developing trade opportunity, as options traders often seek to sell premium on options with high implied volatility to benefit from time decay [4]

Core Viewpoint - Blue Owl Capital Corporation reported better-than-expected second-quarter 2024 earnings, driven by growing investment income and strong portfolio performance, despite flat expenses [2][3]. Financial Performance - Earnings per share (EPS) for Q2 2024 was 48 cents, beating the Zacks Consensus Estimate by 1 cent, remaining flat year over year [1]. - Total investment income reached $396.8 million, a 0.6% increase year over year, and exceeded the Zacks Consensus Estimate by 2% [1][2]. - Net investment income increased by 1.3% year over year to $189.1 million, surpassing estimates by 3.3% [3]. - Total expenses remained flat at $205.2 million, higher than the estimated $200.8 million, primarily due to increased interest expenses and management fees [4]. Portfolio and Investments - Blue Owl Capital made total new investment commitments of $3.3 billion across 25 new and 24 existing portfolio companies [3]. - The company ended Q2 with investments in 212 portfolio companies, with an aggregate fair value of $13.3 billion, averaging $62.9 million per investment [3]. Cash and Debt Position - Cash and restricted cash decreased to $380 million from $658.7 million at the end of 2023 [5]. - Total assets rose to $13.9 billion from $13.5 billion at the end of 2023, while debt increased to $7.4 billion from $7.1 billion [5]. Dividend and Share Repurchase - The board declared a third-quarter 2024 dividend of 37 cents per share, payable on or before October 15, 2024, and a supplemental dividend of 6 cents for Q2 2024 [7]. - A new share repurchase plan for 2024 was approved, allowing for up to $150 million in share buybacks, with no repurchases made in Q2 [8]. Merger Agreement - Blue Owl Capital has agreed to merge with Blue Owl Capital Corporation III, with OBDC as the surviving entity, expected to be completed in Q1 2025, aiming for operational savings and enhanced scale [9].