NASDAQ$OFS
Ofs Capital Corp · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
OFS Capital's financial performance was announced for the quarter ended September 30, 2021, revealing an increase in net asset value and a rise in the quarterly cash distribution.
OFS Capital Corporation reported a net investment income of $3.2 million, or $0.24 per common share, for the quarter ended September 30, 2021. The net asset value per common share increased by 5.5% to $14.16. The company's board of directors declared a distribution of $0.25 per share for the fourth quarter of 2021.
- Net investment income was $3.2 million, or $0.24 per common share.
- Adjusted net investment income was $3.3 million, or $0.25 per common share.
- Net asset value per common share increased 5.5% to $14.16.
- A distribution of $0.25 per share was declared for the fourth quarter of 2021.
Headline financials
Revenue & EPS history
OFS Capital · Revenue · Quarterly
$10.6M
Forward guidance
Management expressed optimism about the company's positioning and the anticipated benefits of recent financial maneuvers. However, they also acknowledged the potential risks associated with the ongoing COVID-19 pandemic and its possible effects on their portfolio companies and the broader economy.
Tailwinds
- Management believes the company's portfolio is well positioned for the future.
- The company increased its quarterly distribution for the fifth consecutive quarter.
- A seven-year unsecured bond was closed in late October.
- The company expects to redeem outstanding debt with a higher cost.
- The October offering extended debt maturities and will help reduce borrowing costs.
Headwinds
- The COVID-19 pandemic could lead to a prolonged period of world-wide economic downturn.
- Certain portfolio companies have been, or may continue to be, incentivized to draw on most, if not all, of the unfunded portion of any revolving or delayed draw term loans.
- An extended period of global supply chain and economic disruption could materially affect our business, results of operations, access to sources of liquidity and financial condition.
- The company expects to recognize a loss on extinguishment of debt of $0.6 million related to the charge-off of deferred borrowing costs on the redemption of the notes.
- The company expects to recognize a loss on extinguishment of debt of $1.6 million related to the charge-off of deferred borrowing costs on the redemption of the notes.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2021
+1.2%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-0.6%
Avg return
30 days after
53%
10 / 19 earnings
Positive
+14.2%
Q3 2022
Best reaction
-8.1%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.2% | -2.0% | -14.4% | |
| Q4 2025 | -3.9% | -6.7% | -17.9% | |
| Q3 2025 | -0.1% | -26.9% | -32.0% | |
| Q1 2025 | -1.2% | -3.1% | -6.4% | |
| Q4 2024 | +4.2% | +6.9% | +8.6% | |
| Q3 2024 | -1.0% | -2.3% | -0.5% | |
| Q2 2024 | -5.0% | -5.3% | -4.8% | |
| Q1 2024 | -2.5% | -2.4% | +0.6% | |
| Q4 2023 | -8.1% | -8.5% | -12.5% | |
| Q3 2023 | +1.7% | +5.5% | +9.8% | |
| Q2 2023 | +0.3% | -1.7% | +5.0% | |
| Q1 2023 | +1.1% | +3.0% | -1.4% | |
| Q4 2022 | +8.2% | +7.7% | +4.1% | |
| Q3 2022 | +14.2% | +11.3% | +13.0% | |
| Q2 2022 | -0.1% | -2.2% | -6.8% | |
| Q1 2022 | -2.5% | -0.9% | +2.6% | |
| Q4 2021 | +9.1% | +10.9% | +33.1% | |
| Q3 2021 | +3.4% | +0.9% | +0.2% | |
| Q4 2020 | +4.3% | +7.0% | +7.9% |
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