NASDAQ$OCSL
Oaktree Specialty Lending Corporation · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
Oaktree Specialty Lending reported fiscal Q2 2025 total investment income of $77.6M with net investment income of $39.1M and NII per share of $0.45.
Total investment income was $77.6 million in the fiscal second quarter ended March 31. Net investment income was $39.1 million; NII per share was $0.45. NAV per share was $16.75. The BDC benefited from base-rate-sensitive floating-rate assets.
- Fiscal Q2 total investment income $77.6M.
- Net investment income $39.1M; NII per share $0.45.
- NAV per share $16.75.
- Senior secured lending focus with Oaktree platform.
- Net realized/unrealized losses affected GAAP earnings per share.
Headline financials
Revenue & EPS history
Oaktree · Revenue · Quarterly
-$2.55M
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
OCSL targets dividend coverage from NII and discusses origination pace, credit quality, and base-rate path.
Tailwinds
- Floating-rate portfolio income in higher-rate environment.
- Oaktree credit platform sourcing.
- Share repurchases below NAV.
Headwinds
- Credit normalization and middle-market defaults.
- Spread compression as base rates fall.
- Unrealized depreciation on stressed credits.
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 2025
-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% |
Discussion
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