NASDAQ$ARCC
Ares Capital Corp · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Ares Capital reported financial results for Q3 2022 and declared a fourth quarter dividend of $0.48 per share.
Ares Capital's Q3 2022 core earnings increased sequentially, driven by rising interest rates and portfolio credit stability. The company raised its regular quarterly dividend by 12% to $0.48 per share.
- Core EPS for Q3 2022 was $0.50, compared to $0.47 in Q3 2021.
- GAAP net income per share for Q3 2022 was $0.21, compared to $0.73 in Q3 2021.
- Net investment income for Q3 2022 was $288 million, compared to $184 million in Q3 2021.
- The Board of Directors declared a fourth quarter dividend of $0.48 per share.
Headline financials
Revenue & EPS history
Ares Capital · Revenue · Quarterly
$304M
Forward guidance
Ares Capital anticipates generating a higher level of core earnings due to continued increases in interest rates, portfolio stability, and a strong capital position.
Tailwinds
- Prospects of continued increases in interest rates.
- Stability in the company's portfolio.
- Strong capital position.
- Low-cost unsecured notes accounting for over 70% of debt financing.
- Limited near term debt maturities.
Headwinds
- Impact of rising interest rates in response to inflation.
- War in Russia and Ukraine.
- Ongoing COVID-19 pandemic.
- Significant market volatility impacting the business.
- Uncertainties related to future performance or financial condition.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+0.2%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+1.3%
Avg return
30 days after
56%
36 / 64 earnings
Positive
+6.5%
Q3 2022
Best reaction
-9.2%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | +3.4% | +1.0% | |
| Q4 2025 | +0.5% | +1.8% | -2.0% | |
| Q3 2025 | +1.1% | +0.1% | +0.9% | |
| Q1 2025 | -2.7% | -2.1% | +3.5% | |
| Q4 2024 | -3.0% | -3.9% | -3.4% | |
| Q3 2024 | -2.0% | -3.2% | +2.7% | |
| Q2 2024 | +0.2% | -2.9% | +0.6% | |
| Q1 2024 | -0.3% | +1.4% | +4.7% | |
| Q4 2023 | +0.4% | +1.3% | +2.9% | |
| Q3 2023 | +0.5% | -0.8% | +5.5% | |
| Q2 2023 | +1.0% | -0.4% | -2.1% | |
| Q1 2023 | -3.5% | +0.1% | +1.1% | |
| Q4 2022 | +1.8% | +0.7% | -5.9% | |
| Q3 2022 | +6.5% | +7.8% | +8.3% | |
| Q2 2022 | +2.7% | +0.9% | +6.8% | |
| Q1 2022 | -4.1% | -6.6% | -10.6% | |
| Q4 2021 | -2.1% | -4.5% | -10.5% | |
| Q3 2021 | +1.2% | +0.7% | -3.1% | |
| Q2 2021 | -1.3% | -0.5% | +0.0% | |
| Q1 2021 | +0.1% | -2.4% | -0.7% | |
| Q4 2020 | -1.2% | -0.4% | +3.1% | |
| Q3 2020 | -0.8% | -1.3% | +19.9% | |
| Q2 2020 | +2.4% | +3.0% | -1.4% | |
| Q1 2020 | +6.4% | +9.3% | +25.9% | |
| Q4 2019 | -0.2% | -1.0% | -23.7% | |
| Q3 2019 | -1.2% | +0.1% | +1.1% | |
| Q2 2019 | +1.9% | +1.2% | +3.3% | |
| Q1 2019 | +0.2% | +0.4% | +0.4% | |
| Q4 2018 | +2.9% | +3.4% | +3.0% | |
| Q3 2018 | +6.0% | +6.5% | +4.7% | |
| Q2 2018 | +2.3% | +3.1% | +3.6% | |
| Q1 2018 | +1.3% | +2.6% | +5.7% | |
| Q4 2017 | +3.2% | +2.6% | -1.6% | |
| Q3 2017 | -0.3% | +0.9% | +1.0% | |
| Q2 2017 | -0.1% | +0.1% | -1.6% | |
| Q1 2017 | -4.8% | -5.4% | -4.0% | |
| Q4 2016 | +0.5% | +0.5% | -1.9% | |
| Q3 2016 | +0.4% | +0.7% | +6.1% | |
| Q2 2016 | +2.8% | +2.3% | +8.4% | |
| Q1 2016 | +0.1% | — | — | |
| Q4 2015 | +3.6% | — | — | |
| Q3 2015 | +1.2% | — | — | |
| Q2 2015 | -0.3% | — | — | |
| Q1 2015 | -4.2% | — | — | |
| Q4 2014 | +1.6% | — | — | |
| Q3 2014 | +1.4% | — | — | |
| Q2 2014 | -1.4% | — | — | |
| Q1 2014 | -3.5% | — | — | |
| Q4 2013 | -0.9% | — | — | |
| Q3 2013 | +2.4% | — | — | |
| Q2 2013 | -3.9% | — | — | |
| Q1 2013 | -0.1% | — | — | |
| Q4 2012 | +2.0% | — | — | |
| Q3 2012 | -0.5% | — | — | |
| Q2 2012 | +2.1% | — | — | |
| Q1 2012 | -2.4% | — | — | |
| Q4 2011 | +2.3% | — | — | |
| Q3 2011 | -3.1% | — | — | |
| Q2 2011 | -9.2% | — | — | |
| Q1 2011 | -1.3% | — | — | |
| Q4 2010 | -2.0% | — | — | |
| Q3 2010 | +2.0% | — | — | |
| Q2 2010 | +2.4% | — | — | |
| Q1 2010 | +3.0% | — | — |
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