Blue Owl Capital - OBDC STOCK NEWS

Blue Owl Capital reported a strong first quarter with net investment income per share of $0.47, exceeding dividends by 25%. The NAV per share increased to $15.47, the highest since inception. The company declared a first quarter supplemental dividend of $0.05 per share. The Board approved a 2024 Repurchase Program of up to $150 million. Investment income increased to $399.6 million, expenses rose to $211.6 million, and liquidity stood at $742.8 million in cash.

Blue Owl Capital (OBDC) to Release First Quarter 2024 Financial Results on May 8, 2024

Blue Owl Capital Corporation (OBDC) reports strong financial performance for the full year and fourth quarter of 2023, with record net investment income and dividends. The company achieved a total return of over 40% in 2023, increased NAV per share, and declared increased dividends for the first quarter of 2024. OBDC's portfolio and investing activity saw significant growth in new investment commitments and funded investments. The company's investment income and expenses also showed positive trends, with an increase in income and total expenses. Liquidity and capital resources remained strong, with ample cash and undrawn capacity on credit facilities.

KBRA assigns a rating of BBB to Blue Owl Capital Corporation's (NYSE: OBDC ) $600 million 5.95% senior unsecured notes due March 15, 2029. The Outlook for the rating is Positive. The proceeds will be used to repay borrowings under the company's secured revolving facility and/or SPV asset facility II. The rating and the Positive Outlook are supported by the company’s ties to the solid $79.5 billion Blue Owl direct lending platform, the derived benefits from OBDC’s SEC exemptive relief to co-invest with other funds managed by the advisor and its affiliates, and its diversified $12.9 billion investment portfolio comprised mostly of senior secured loans (82.7%) to mostly upper middle market companies in mainly non-cyclical industries, as of September 30, 2023. The rating also reflects the company’s solid management team, which has a long track record of working within the private debt markets with each member of the Investment Committee having an average of over 30 years of experience in the industry. Additionally, the company maintains a prudent leverage target of 0.9x to 1.25x, which KBRA considers appropriate, allowing OBDC to absorb increased market volatility as well as a potential increase in non-accruals as we remain in an uncertain economic environment with increasing risk of a recession with high base rates for longer. Non-accruals remain relatively low at 0.80% and 0.95% of total investments at fair value and cost, respectively, as of September 30, 2023. KBRA believes that OBDC benefits from the company’s solid underwriting and focus on portfolio companies in the upper middle market with EBITDAs in excess of $100 million. OBDC’s profitability has benefited from the rising interest rate environment with an asset sensitive balance sheet with the majority of its investments variable rate loans. OBDC maintains solid access to the capital markets with a diversified funding mix of secured bank facilities, CLOs, and senior unsecured debt. Approximately 58% of the company’s total outstanding debt was comprised of senior unsecured notes which allows for solid unencumbered assets for noteholders. The strengths are counterbalanced by the potential risk related to the company’s illiquid investments, retained earnings constraints as a Regulated Investment Company (RIC), and an uncertain economic environment and geopolitical risks.

Blue Owl Capital Corporation (NYSE: OBDC) will release its financial results for the fourth quarter and fiscal year ended December 31, 2023 on February 21, 2024, followed by a webcast / conference call on February 22, 2024 at 10:00 a.m. Eastern Time to discuss the results.

Blue Owl Capital Corporation (NYSE: OBDC) announced its third quarter 2023 financial results, reporting a record net investment income of $0.49 per share and a 21% increase in total dividends compared to the same period last year. The company also increased its quarterly dividend for the fourth quarter to $0.35 per share. Additionally, the net asset value per share increased to $15.40, the highest since inception.

Blue Owl Capital Corporation to release Q3 financial results on November 8, 2023

Blue Owl Capital Corporation (NYSE: OBDC) announced its financial results for the second quarter of 2023. Highlights include a record net investment income of $0.48 per share, a 30% increase in total dividends compared to the same period last year, and an increase in net asset value per share. The CEO expressed confidence in the company's ability to generate an ROE of over 12% for 2023. The Board declared a third quarter dividend of $0.33 per share and a second quarter supplemental dividend of $0.07 per share. The company has also completed stock repurchases totaling $75 million. The portfolio and investing activity remained strong, with new investment commitments of $183.0 million and a total fair value of $12.9 billion.