NYSE$BXSL

Blackstone Secured Lending Fund · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Reported strong results with record net investment income and growth in net asset value.

Blackstone Secured Lending Fund reported strong second quarter results, marked by record net investment income, growth in net asset value, and healthy credit performance. The company announced a 10% increase in the regular quarterly distribution to $0.77 per share.

  • Net investment income was $171 million, or $1.06 per share, up 14% from the prior quarter.
  • Net income was $145 million, or $0.90 per share, up 5% from the prior quarter.
  • The regular dividend increased by 10% from $0.70 per share to $0.77 per share.
  • Net asset value was $4.4 billion, or $26.30 per share at quarter-end.

Headline financials

Total Revenue

-$66.3M

Previous: $187M-135.4%
EPS (adj)

$1.06

Previous: $0.62+71.0%
Non-accrual rate

0.1%

No prior period
NAV per share

$26.30

No prior period
Free Cash Flow

$145M

No prior period
Net Income

$145M

Previous: $80M+81.1%
Operating Income

-$96.8M

No prior period
Gross Profit

-$66.3M

No prior period
Cash & Equivalents

$147M

Previous: $169K+87290.9%
Total Assets

$9.57B

Previous: $10.4B-7.8%

Revenue & EPS history

Blackstone Secured Lending Fund · Revenue · Quarterly

-$66.3M

Q2 2023-135.4%vs Q2 2022
Beat estimate in 2 of 14 quarters(14%)
ActualEstimate

Forward guidance

The company announced a 10% increase of the regular quarterly distribution to $0.77 per share, which represents an annualized yield of 11.7% based on second quarter net asset value per share.

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 Q2 2023

Historical avgQ2 2023

+0.5%

Avg return

Earnings day

+0.7%

Avg return

5 days after

+0.6%

Avg return

30 days after

50%

10 / 20 earnings

Positive

+5.0%

Q2 2022

Best reaction

-4.6%

Q2 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.8%-3.1%-3.9%
Q4 2025+3.3%+1.5%-1.4%
Q3 2025+0.3%+0.6%+7.0%
Q2 2025-3.1%-2.6%-6.1%
Q1 2025+0.9%+4.0%+8.6%
Q4 2024-3.7%-1.4%-3.1%
Q3 2024-0.5%-0.9%+3.2%
Q2 2024+1.8%+1.7%+1.7%
Q1 2024-1.2%-3.2%-2.6%
Q4 2023-1.1%-0.8%+4.0%
Q3 2023-1.1%-0.8%-0.5%
Q2 2023-4.6%-3.8%-3.2%
Q1 2023-0.9%-1.2%+1.2%
Q4 2020+2.4%+2.4%+2.6%
Q4 2022+2.4%+2.4%+2.6%
Q3 2021+3.9%+5.3%+0.9%
Q3 2022+3.9%+5.3%+0.9%
Q2 2022+5.0%+3.9%+3.5%
Q1 2022+2.8%+1.0%-1.5%
Q4 2021-0.8%+3.1%-2.6%

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