NYSE$TSLX

Sixth Street Specialty Lending Inc · Q2 2025 earnings

Q2 2025 earnings · · After market close · Investor relations

Briefing

Sixth Street Specialty Lending Inc reported its Q2 2025 earnings results on July 30, 2025.

The company generated total investment income of $115.0 million for the quarter, driven primarily by interest from its debt portfolio. Net investment income reached $50.8 million, supporting a net increase in net assets from operations of $59.0 million or $0.63 per share. The portfolio maintained strong credit quality with a weighted average yield of 11.7% at fair value.

  • Total investment income of $115.0 million for Q2 2025, down from $121.8 million in Q2 2024 due to lower reference rates.
  • Net asset value per share increased to $17.17 as of June 30, 2025.
  • Portfolio remains predominantly first-lien debt at 92.4% of fair value with 96.5% floating rate exposure.
  • Asset coverage ratio improved to 192.5%, providing substantial borrowing capacity.

Headline financials

Total Revenue

$16.4M

Previous: $3.86M+325.7%
EPS (adj)

$0.63

Previous: $0.51+23.5%
Net Asset Value Per Share

$17.17

Previous: $17.19-0.1%
Weighted Avg Yield at Amortized Cost

12.0%

No prior period
Debt to Equity Ratio

1.07

Previous: 1.12-4.5%
Weighted Avg Yield at Fair Value

11.7%

No prior period
Net Income

$59M

Previous: $47.4M+24.5%
Operating Income

-$316K

Previous: -$61.9M+99.5%
Cash & Equivalents

$39.2M

Previous: $34.6M+13.0%
Total Assets

$3.42B

Previous: $3.39B+0.9%

Revenue & EPS history

Sixth Street · Revenue · Quarterly

$16.4M

Q2 2025+325.7%vs Q2 2024
Beat estimate in 4 of 14 quarters(29%)
ActualEstimate

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports

Historical avg

+0.9%

Avg return

Earnings day

-1.1%

Avg return

5 days after

-0.5%

Avg return

30 days after

68%

13 / 19 earnings

Positive

+4.6%

Q3 2023

Best reaction

-4.4%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025
Q1 2026+2.8%-11.3%-11.8%
Q4 2025-4.4%-4.3%-11.5%
Q3 2025-1.4%-6.4%-1.6%
Q1 2025-0.6%-0.9%+11.5%
Q4 2024+2.2%+2.9%-3.0%
Q3 2024+1.0%+1.3%+7.2%
Q2 2024-0.8%-5.0%+1.1%
Q1 2024-3.7%-3.0%+1.5%
Q4 2023+1.9%+1.6%-2.8%
Q3 2023+4.6%+2.9%+6.3%
Q2 2023+4.5%+2.5%+1.4%
Q1 2023+0.4%-2.6%+4.3%
Q4 2022+3.2%+0.3%-9.4%
Q3 2022+0.2%+1.2%+3.2%
Q2 2022-0.5%-0.6%-2.8%
Q1 2022+1.7%-0.2%-3.7%
Q4 2021+1.7%+0.0%-4.0%
Q3 2021+0.3%+1.5%+0.4%
Q4 2020+3.1%-0.1%+3.6%

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