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Morgan Stanley Direct Lending Fund (MSDL)
:MSDL
RESEARCH TOOLSreports
Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.62Last Year’s EPS
0.67Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 6.23%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong net investment income growth, portfolio expansion, and solid credit performance, supported by a healthy debt structure. However, challenges such as decreased portfolio yield and increased debt-to-NAV ratio were noted. The company remains optimistic about future opportunities despite these challenges.Company Guidance
During the Morgan Stanley Direct Lending Fund’s third-quarter 2024 earnings call, the company reported a net asset value per share of $20.83, unchanged from the previous quarter, and a net investment income of $0.66 per share, up from $0.63 in the second quarter. This income comfortably exceeded the $0.50 per share regular dividend and the additional $0.10 special dividend. New investment commitments totaled approximately $455 million across 37 portfolio companies, with net funded deployment at $124 million, down from $210 million in the second quarter. The fund’s debt to net asset value ratio increased to 0.99 times, approaching the lower end of their target leverage range of 1 to 1.25 times. The company highlighted a strong credit performance and a resilient economic backdrop, with a weighted average yield on debt and income-producing investments at 11% and a credit portfolio with over 98% having an internal risk rating of 2 or better. The call also noted the Federal Reserve's 50 basis point rate cut in September, which spurred market optimism and was expected to keep gross asset yields elevated. The outlook for deal activity was positive, with expectations of increased sponsor M&A activity as market conditions improve.Increased Net Investment Income
Net investment income increased from $0.63 per share in the second quarter to $0.66 per share in the third quarter, exceeding the $0.50 per share regular dividend.
Strong Portfolio Growth
New investment commitments totaled approximately $455 million in 37 portfolio companies, and net funded deployment for the quarter was $124 million.
Strong Credit Performance
Over 98% of the portfolio had an internal risk rating of 2 or better, and the weighted average loan-to-value remained around 40%.
Healthy Portfolio Composition
The portfolio ended the quarter with a fair value of $3.6 billion, comprised of 96% first-lien debt.
Solid Capital Structure
Debt-to-equity ratio increased to 0.99 times, and approximately 57% of funded debt was in the form of unsecured notes with well-laddered maturities.
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Morgan Stanley Direct Lending Fund (MSDL) Earnings, Revenues Date & History
MSDL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MSDL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $19.75 | $19.76 | +0.05% |
| Aug 08, 2024 | $18.35 | $18.75 | +2.18% |
| May 09, 2024 | $21.52 | $20.54 | -4.55% |
| Mar 01, 2024 | $17.71 | $17.85 | +0.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Morgan Stanley Direct Lending Fund (MSDL) report earnings?
Morgan Stanley Direct Lending Fund (MSDL) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Morgan Stanley Direct Lending Fund (MSDL) earnings time?
Morgan Stanley Direct Lending Fund (MSDL) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MSDL EPS forecast?
MSDL EPS forecast for the fiscal quarter 2024 (Q4) is 0.62.
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