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Blue Owl Capital Corporation III (OBDE)
:OBDE
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Earnings Data
Report Date
―TBA Not Confirmed
Period Ending
―Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 08, 2024
|% Change Since: 10.30%
|Next Earnings Date:Feb 21, 2024
Earnings Call Sentiment|Positive
The earnings call highlighted strong performance metrics, a strategic merger expected to provide substantial benefits, and active investment activities. However, it also acknowledged market volatility and some credit-related challenges. Overall, the sentiment leans towards positive due to the significant merger benefits and strong returns.Company Guidance
During the second quarter earnings call for Blue Owl Capital Corporation III (OBDE), the company reported a net asset value per share of $15.56, a 1.8% increase from the previous year, and an annualized return on equity (ROE) of 10.5%. The net investment income was $0.41 per share, surpassing the regular dividend of $0.35 per share. The merger with Blue Owl Capital Corporation (OBDC) is anticipated to add $13.3 billion of investments, bringing total investments to approximately $17.7 billion. Post-merger, the average position size in the portfolio is expected to be less than 40 basis points, and the transaction is projected to be accretive to net investment income. OBDE's leverage increased to 1.22x net debt-to-equity, nearing the upper limit of the target range. The company's credit performance remains strong with a nonaccrual rate of 0.5% of the fair value of debt investments. The merger is expected to close in the first quarter of 2025, with shareholders set to receive further dividends, including special dividends totaling $0.24 per share before the merger's completion.Merger Agreement with Blue Owl Capital Corporation
OBDE has entered into a merger agreement with Blue Owl Capital Corporation, which will result in OBDC as the surviving company. This merger is expected to add $13.3 billion to OBDE's portfolio, making it the second largest publicly traded BDC by total assets.
Double-Digit Returns and Strong Credit Performance
OBDE delivered a strong annualized ROE of 10.5% and net investment income of $0.41 per share, exceeding the regular dividend of $0.35 per share. The net asset value per share increased by 1.8% from a year ago, reaching $15.56.
Second Most Active Quarter of Originations
OBDE deployed approximately $1 billion in new commitments, marking its second most active quarter of originations. The portfolio now includes 207 companies with an average investment size of approximately 50 basis points.
Expected Benefits from Merger
The merger is expected to enhance portfolio diversification, maintain excellent credit quality, and provide more diverse and efficient access to capital. The transaction is anticipated to be accretive to net investment income for OBDE shareholders.
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OBDE 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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OBDE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Aug 07, 2024 | $12.82 | $12.98 | +1.25% |
| May 08, 2024 | $13.79 | $14.02 | +1.67% |
| Feb 21, 2024 | $12.68 | $12.93 | +1.97% |
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 Blue Owl Capital Corporation III (OBDE) report earnings?
Currently, no data Available
What is Blue Owl Capital Corporation III (OBDE) earnings time?
Currently, no data Available
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 OBDE EPS forecast?
Currently, no data Available
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