Ares Capital reports Q3 EPS 58c, consensus 59c

Reports Q3 revenue $775M, consensus $774.28M.”We reported strong third quarter Core EPS and another record in our net asset value per share supported by robust new investment activity and healthy credit performance,” said Kipp deVeer, Chief Executive Officer of Ares Capital (ARCC). “As we celebrate our 20-year anniversary this month, we are proud of the returns we delivered for our shareholders, including a total annualized stock return with dividends of 13% and a cumulative net realized loss rate of 0% on our investments over the past two decades.” “We believe that the strength and diversification of our balance sheet continues to be a source of differentiation,” said Scott Lem, Chief Financial Officer of Ares Capital. “During the third quarter, our investment-grade profile improved further, making ARCC the only company to have the highest ratings in the BDC sector and positive outlooks by S&P and Fitch. Our conservative approach to investing and funding our balance sheet have enabled us to pay a stable to growing regular quarterly dividend for our shareholders for over 15 years.”