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A Look at Ares Capital Corporation’s 2Q17 Earnings

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A Look at Ares Capital Corporation’s 2Q17 Earnings PART 1 OF 6

Ares Capital Corporation Missed Analysts’ Estimates in 2Q17

Missing the estimates

Ares Capital Corporation (ARCC) posted its 2Q17 earnings report on August 2, 2017. The company reported its core earnings per share (or EPS) of $0.34 per share, missing the analysts’ estimate of $0.36 per share. On a sequential basis, the company witnessed a marginal increase of ~6.3% in its core EPS. 

Ares Capital Corporation also posted revenues of $284.0 million in 2Q17, which misses the analysts’ estimate of ~$297.2 million. The net asset value of Ares Capital on June 30, 2017, stood at $16.54 per share.

Ares Capital Corporation Missed Analysts’ Estimates in 2Q17

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Ares Capital’s assets under management (or AUM) on June 30, 2017, stood at $12.3 billion. The company entered into new commitments of $1.9 billion in 2Q17, which includes 12 new commitments. 

These commitments include two portfolio companies in which commitments were made through SDLP (Senior Direct Lending Program), LLC and 33 existing companies.

Market capitalization

The market capitalization of Ares Capital Corporation (ARCC) stood at ~$7.0 billion, on August 2, 2017. Other investment management companies (XLF) have the following market capitalization levels:

  • BlackRock Capital Investment (BKCC): $0.54 billion
  • Prospect Capital (PSEC): ~$2.9 billion
  • KKR & Co. (KKR): ~$15.7 billion

Moving forward, we’ll have a look into Ares Capital’s loan portfolio purchases, its exits in 2Q17, its dividend distribution, its valuations, and analysts’ ratings on the company.

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