Oaktree Specialty Lending reports Q4 adjusted NII 55c, consensus 56c

NAV per share was $18.09 as of September 30, 2024, down vs. $18.19 and $19.63 as of June 30, 2024 and September 30, 2023, respectively. CEO Armen Panossian said, “The results for our Q4 were supported by a combination of robust origination activity and ongoing loan sales and repayments. We invested $259M and realized $338M from sales and repayments, underscoring the strength of our origination platform and investment process. In addition to this being our first quarter with our lower base management fee, we have announced another discretionary fee waiver as part of our commitment to maintaining shareholder value. During the quarter, we successfully restructured several names that were previously on non-accrual status. However, unique challenges that impacted a handful of additional portfolio companies caused a slight decline in NAV and additional names on non-accrual status. While this has been a challenging year, we remain confident in the overall credit quality of our portfolio and in our ability to achieve successful outcomes for our shareholders by leveraging the extensive resources and turnaround expertise of the Oaktree platform.”