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Ares Capital(ARCC) - 2025 Q1 - Earnings Call Presentation
2025-04-29 15:20
Financial Performance - GAAP Net Income Per Share for Q1 2025 was $036, compared to $076 in Q1 2024[12] - Core EPS for Q1 2025 was $050, down from $059 in Q1 2024[12] - Net Investment Income Per Share for Q1 2025 was $054, slightly lower than $055 in Q1 2024[12] - Net Asset Value Per Share increased to $1982 in Q1 2025 from $1953 in Q1 2024[12] Portfolio Composition and Activity - Total Fair Value of Investments increased to $2713 billion in Q1 2025 from $23124 billion in Q1 2024[13] - Gross Commitments for Q1 2025 were $3453 billion, compared to $3554 billion in Q1 2024[13] - Exits of Commitments for Q1 2025 were $2857 billion, lower than $3414 billion in Q1 2024[13] - First Lien Senior Secured Loans accounted for 58% of the portfolio at fair value as of March 31, 2025[19] - Floating Rate investments represented 69% of the portfolio at fair value as of March 31, 2025[19] Debt and Dividends - The company estimates it will carry forward excess taxable income of approximately $883 million, or $129 per share, from 2024 for distribution to stockholders in 2025[77] - Unsecured Debt to Total Debt was 688% as of March 31, 2025[16]