NYSE$BXSL

Blackstone Secured Lending Fund · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

Blackstone Secured Lending Fund reported strong Q4 2023 results with growth in net investment income and increased net asset value.

Blackstone Secured Lending Fund reported strong fourth-quarter results, characterized by growth in net investment income, an increase in net asset value, and solid credit performance. The company's portfolio, which is 98.5% first lien, senior secured, provided capital protection amidst the current interest rate environment. New investments saw a two-year high during the quarter, and the company remains optimistic about future deployment opportunities.

  • Net investment income was $0.96 per share.
  • The portfolio is well-positioned with solid fundamentals and only one issuer on non-accrual.
  • 98.5% of the portfolio is in first lien, senior secured debt.
  • New investment commitments reached $1.0 billion at par.

Headline financials

Total Revenue

$304M

Previous: $251M+21.1%
EPS (adj)

$0.96

Previous: $0.90+6.7%
Non-accrual rate

0.1%

No prior period
Net Income

$157M

Previous: $122M+29.2%

Revenue & EPS history

Blackstone Secured Lending Fund · Revenue · Quarterly

$304M

Q4 2023+21.1%vs Q4 2022
Beat estimate in 2 of 14 quarters(14%)
ActualEstimate

Forward guidance

Blackstone Secured Lending Fund remains optimistic about continued deployment opportunities with a growing Blackstone Credit & Insurance investment pipeline.

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 Q4 2023

Historical avgQ4 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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