NASDAQ$OCSL
Oaktree Specialty Lending Corporation · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Announced second fiscal quarter 2024 financial results.
Oaktree Specialty Lending Corporation reported a GAAP net investment income of $41.4 million ($0.52 per share) for the second fiscal quarter of 2024, as compared with $44.2 million ($0.57 per share) for the first fiscal quarter of 2024. Total investment income was $94.0 million ($1.18 per share) for the second fiscal quarter of 2024, as compared with $98.0 million ($1.26 per share) for the first fiscal quarter of 2024.
- Total investment income was $94.0 million ($1.18 per share).
- GAAP net investment income was $41.4 million ($0.52 per share).
- Originated $395.6 million of new investment commitments.
- Declared a quarterly cash distribution of $0.55 per share.
Headline financials
Revenue & EPS history
Oaktree · Revenue · Quarterly
-$2.5M
Revenue by segment
Oaktree · $60.3M total across 3 segments · Q1 2022
- Interest income$55.5M—92.0%
- Dividend income$3.92M—6.5%
- Fee income$912K—1.5%
Forward guidance
Oaktree Specialty Lending announced a permanent reduction in the base management fee, effective as of July 1, 2024, to an annual rate of 1.00% of total gross assets, including any investment made with borrowings, but excluding cash and cash equivalents, net of all other existing waivers of the base management fee.
Tailwinds
- Reduction in base management fee enhances earnings power.
- Shift in investment composition toward first lien loans.
- Strong portfolio activity in fiscal second quarter.
- Identified and sourced $396 million of new investment commitments.
- Realized $323 million of repayments and sales, including $109 million of junior positions.
Headwinds
- Uncertainties associated with changes in the economy, financial markets and political environment.
- Risks associated with possible disruption in the operations of the Company or the economy generally due to terrorism, war or other geopolitical conflict.
- Future changes in laws or regulations.
- Conditions in the Company’s operating areas, particularly with respect to business development companies or regulated investment companies.
- Impacts of inflation and elevated interest rates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q2 2024
-1.4%
Avg return
Earnings day
-2.0%
Avg return
5 days after
-2.6%
Avg return
30 days after
33%
6 / 18 earnings
Positive
+7.3%
Q4 2022
Best reaction
-8.4%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +0.4% | -5.8% | -5.3% | |
| Q1 2026 | +3.0% | +2.0% | -5.6% | |
| Q4 2025 | +0.0% | +1.1% | -3.8% | |
| Q2 2025 | -7.8% | -6.7% | +1.6% | |
| Q1 2025 | -2.8% | -2.9% | +0.2% | |
| Q4 2024 | -2.9% | -1.9% | -6.0% | |
| Q3 2024 | -8.4% | -10.6% | -5.0% | |
| Q2 2024 | -1.9% | -2.9% | -1.9% | |
| Q1 2024 | -6.9% | -7.2% | -7.1% | |
| Q4 2023 | +0.5% | +0.4% | +1.4% | |
| Q3 2023 | -1.7% | -0.8% | -1.4% | |
| Q2 2023 | -2.4% | -0.7% | +1.3% | |
| Q1 2023 | -1.6% | -1.7% | -4.4% | |
| Q4 2022 | +7.3% | +7.9% | +2.4% | |
| Q3 2022 | -0.8% | -1.1% | -4.3% | |
| Q2 2022 | -1.5% | -4.5% | -5.4% | |
| Q1 2022 | +1.1% | +0.0% | -2.4% | |
| Q4 2021 | +1.3% | -0.8% | -1.3% |
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