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Blue Owl Capital Corporation (OBDC) Reports Q1 Earnings: What Key Metrics Have to Say
Zacks Investment Research· 2024-05-08 23:31
Blue Owl Capital Corporation (OBDC) reported $399.58 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 5.8%. EPS of $0.47 for the same period compares to $0.45 a year ago.The reported revenue represents a surprise of +0.11% over the Zacks Consensus Estimate of $399.16 million. With the consensus EPS estimate being $0.48, the EPS surprise was -2.08%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expecta ...
Owl Rock(OBDC) - 2024 Q1 - Quarterly Results
2024-05-08 20:26
Exhibit 99.1 Blue Owl Capital Corporation Reports First Quarter Net Investment Income Per Share of $0.47 and NAV Per Share of $15.47 NEW YORK — May 8, 2024 — Blue Owl Capital Corporation (NYSE: OBDC, or the "Company") today announced financial results for its first quarter ended March 31, 2024. FIRST QUARTER 2024 HIGHLIGHTS "OBDC's first quarter results reflect a strong start to the year, achieving record net asset value per share for the third consecutive quarter while maintaining solid credit performance, ...
Blue Owl Capital Corporation Reports First Quarter Net Investment Income Per Share of $0.47 and NAV Per Share of $15.47
Prnewswire· 2024-05-08 20:18
NEW YORK, May 8, 2024 /PRNewswire/ -- Blue Owl Capital Corporation (NYSE: OBDC, or the "Company") today announced financial results for its first quarter ended March 31, 2024. FIRST QUARTER 2024 HIGHLIGHTS First quarter net investment income ("NII") per share of $0.47, exceeding the regular dividend by over 25% As a result, the Board of Directors (the "Board") declared a first quarter supplemental dividend of $0.05 per share Total dividends for the first quarter were $0.42 per share, representing a 10.9% a ...
Owl Rock(OBDC) - 2024 Q1 - Quarterly Report
2024-05-08 20:11
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 March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 814-01190 ______________________________________________ BLUE OWL CAPITAL CORPORATION (Exact name of Registrant as specified in it ...
Will Rising Costs Affect Blue Owl's (OBDC) Q1 Earnings Growth?
Zacks Investment Research· 2024-05-07 17:06
Blue Owl Capital Corporation (OBDC) is set to report its first-quarter 2024 results on May 8, after the closing bell.What Do the Estimates Say?The Zacks Consensus Estimate for first-quarter earnings per share of 48 cents suggests a 6.7% jump from the prior-year earnings of 45 cents. The consensus mark remained stable over the past week. The consensus estimate for first-quarter revenues of $399.2 million indicates a 5.7% increase from the year-ago reported figure.Blue Owl Capital beat the consensus estimate ...
Owl Rock(OBDC) - 2023 Q4 - Earnings Call Transcript
2024-02-22 19:40
Financial Data and Key Metrics Changes - The company reported a record net investment income (NII) of $0.51 per share for Q4 2023, an increase of $0.02 from the previous quarter, and a total NII of $1.93 for the year, up 37% year-over-year [43][70]. - The net asset value (NAV) per share increased to $15.45, up $0.05 from the previous quarter, marking the highest NAV since inception [66][69]. - The company declared a supplemental dividend of $0.08 per share, resulting in total dividends of $0.43 for the quarter, equating to an annualized yield of over 11% [37][49]. Business Line Data and Key Metrics Changes - The company maintained a fully invested portfolio with $1 billion in originations and repayments during the quarter, reflecting a significant increase in repayments compared to previous quarters [48][52]. - The nonaccrual rate remained low at 1.1% of the fair value of the debt portfolio, with only four names in nonaccrual status [47][34]. Market Data and Key Metrics Changes - The company noted a normalization in the market, with increased activity in the fourth quarter, leading to expectations of continued repayment activity and a more favorable environment for refinancings [10][54]. - The company observed pressure on spreads across new investment opportunities due to strengthening public and private markets [55][102]. Company Strategy and Development Direction - The company emphasized a focus on maintaining a well-laddered liability structure and lowering financing costs, with a proactive approach to managing its portfolio and liabilities [51][72]. - The management expressed confidence in the portfolio's resilience and the strategic benefits of its borrowers, particularly in sectors like software, insurance brokerage, food and beverage, and healthcare [67][45]. Management's Comments on Operating Environment and Future Outlook - Management indicated that while the first quarter has seen lighter activity, they expect a significant pickup in M&A activity and new buyout opportunities as the year progresses [8][91]. - The company anticipates that coverage levels will trough in the first half of 2024, with expectations for continued strong performance from portfolio companies [46][68]. Other Important Information - The company raised $600 million in new unsecured notes, which will improve the overall cost of unsecured financing and increase total unsecured debt as a percentage of total debt to 61% [35]. - The company highlighted the importance of credit protections in direct lending, noting that protections are significantly better than those in public markets [28][127]. Q&A Session Summary Question: Can you provide details on the company added to nonaccrual during the quarter? - Management stated that the nonaccrual was due to operational challenges faced by a business backed by private equity firms, and they are working on a recovery plan [80][59]. Question: How do you see the impact of the normalizing BSL market on spreads? - Management noted that the normalization of the market contributes to spread compression, but it is also a function of a strong economy and expectations of declining rates [85][102]. Question: What gives you confidence in maintaining and covering the base dividend as rates normalize? - Management expressed confidence in the portfolio's performance and the ability to generate higher income, allowing for a sustainable dividend model even in a lower rate environment [87][107]. Question: How is the company positioned for future market activity? - Management indicated that they expect increased market activity throughout 2024, driven by private equity firms looking to return capital to LPs and a favorable rate environment [76][56].
Owl Rock(OBDC) - 2023 Q4 - Annual Report
2024-02-21 21:56
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 814-01190 ________________________________________________________________________ BLUE OWL ...
Owl Rock(OBDC) - 2023 Q3 - Quarterly Report
2023-11-08 20:58
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 fiscal quarter ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 814-01190 ______________________________________________ BLUE OWL CAPITAL CORPORATION (Exact name of Registrant as specified in ...
Owl Rock(OBDC) - 2023 Q2 - Earnings Call Presentation
2023-08-11 20:40
• New investment commitments and fundings totaled $183 million and $170 million respectively, for the quarter. The commitments were distributed across 13 investments in 11 portfolio companies, 5 of which were new portfolio companies • Received full paydowns for 5 portfolio companies and partial paydowns across 12 portfolio companies (Dollar amounts in millions) NYSE: OBDC 9 $603 $427 $341 $304 New Investment Fundings Borrower Diversification Industry Diversification Average Stated Interest Rate on Debt Outs ...
Owl Rock(OBDC) - 2023 Q2 - Quarterly Report
2023-08-09 20:00
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 fiscal quarter ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 814-01190 ______________________________________________ BLUE OWL CAPITAL CORPORATION (Exact name of Registrant as specified in its C ...