NYSE$OBDC

Blue Owl Capital Corporation · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported net investment income of $0.31 per share and net income of $0.11 per share for the first quarter ended March 31, 2022.

Owl Rock Capital Corporation reported a net investment income of $122.4 million, or $0.31 per share, and a net income of $44.0 million, or $0.11 per share, for the first quarter ended March 31, 2022. The net asset value per share was $14.88 at the end of the quarter. New investment commitments totaled $530.4 million.

  • Net investment income was $0.31 per share.
  • Net income was $0.11 per share.
  • Net asset value per share was $14.88.
  • New investment commitments totaled $530.4 million.

Headline financials

Total Revenue

$264M

Previous: $222M+19.2%
EPS (adj)

$0.31

Previous: $0.26+19.2%
Net Asset Value Per Share

$14.88

Previous: $14.82+0.4%
Net Income

$44M

Previous: $158M-72.1%
Operating Income

$123M

Previous: $104M+18.7%
Cash & Equivalents

$326M

Previous: $244M+33.7%
Total Assets

$13.2B

Previous: $11.6B+13.9%

Revenue & EPS history

Blue Owl · Revenue · Quarterly

$264M

Q1 2022+19.2%vs Q1 2021
Beat estimate in 7 of 14 quarters(50%)
ActualEstimate

Revenue by segment

Blue Owl · $875K total across 1 segment · Q3 2023

  • Joint ventures
    $875K—

Forward guidance

Company expects to see upside in the second half of the year from a rising interest rate environment.

Tailwinds

  • Expects to see upside in the second half of the year from a rising interest rate environment.
  • Credit performance remains exceptional.
  • Defensive positioning is designed to generate healthy returns through the entire market cycle.
  • Almost all of the portfolio is held in floating rate assets.
  • One of the lowest levels of non-accruals in the BDC sector.

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 Q1 2022

Historical avgQ1 2022

+0.6%

Avg return

Earnings day

+1.1%

Avg return

5 days after

+0.4%

Avg return

30 days after

63%

17 / 27 earnings

Positive

+6.6%

Q3 2022

Best reaction

-5.4%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025———
Q1 2026-2.9%-5.1%-6.3%
Q4 2025-1.0%+1.1%-3.5%
Q3 2025-5.4%-5.6%+5.5%
Q1 2025+1.2%+6.3%+6.3%
Q4 2024-0.7%-1.9%-4.2%
Q3 2024+1.2%+1.4%+4.6%
Q2 2024-1.6%-2.9%-0.9%
Q1 2024-0.9%+0.2%+0.1%
Q4 2023+1.5%+0.7%+2.9%
Q3 2023+1.7%+3.5%+7.3%
Q2 2023-0.7%-1.5%-3.4%
Q1 2023+1.8%+3.4%+8.1%
Q4 2022+5.2%+4.9%-5.0%
Q3 2022+6.6%+9.0%+8.7%
Q2 2022+1.3%+6.3%+1.7%
Q1 2022-4.9%-8.6%-5.1%
Q4 2021+2.0%+2.8%+2.5%
Q3 2021+0.1%+1.6%-2.7%
Q2 2021+0.1%+0.3%+2.3%
Q1 2021-2.6%-3.7%+0.9%
Q4 2020+0.4%+0.8%-0.4%
Q3 2020+5.6%+9.3%+12.9%
Q2 2020+3.0%+3.1%+0.4%
Q1 2020+3.6%+4.8%+3.7%
Q4 2019-1.2%-5.9%-35.5%
Q3 2019+1.7%+2.4%+7.2%
Q2 2019+1.7%+2.1%+1.9%
Q1 2019———
Q4 2018———
Q3 2018———
Q2 2018———
Q1 2018———
Q4 2017———
Q3 2017———
Q2 2017———
Q1 2017———
Q4 2016———
Q3 2016———
Q2 2016———
Q1 2016———

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