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Sep 30, 2022
Ares Capital Q3 2022 Earnings Report
Ares Capital reported financial results for Q3 2022 and declared a fourth quarter dividend of $0.48 per share.
Key Takeaways
Ares Capital's Q3 2022 core earnings increased sequentially, driven by rising interest rates and portfolio credit stability. The company raised its regular quarterly dividend by 12% to $0.48 per share.
Core EPS for Q3 2022 was $0.50, compared to $0.47 in Q3 2021.
GAAP net income per share for Q3 2022 was $0.21, compared to $0.73 in Q3 2021.
Net investment income for Q3 2022 was $288 million, compared to $184 million in Q3 2021.
The Board of Directors declared a fourth quarter dividend of $0.48 per share.
Forward Guidance
Ares Capital anticipates generating a higher level of core earnings due to continued increases in interest rates, portfolio stability, and a strong capital position.
Positive Outlook
- Prospects of continued increases in interest rates.
- Stability in the company's portfolio.
- Strong capital position.
- Low-cost unsecured notes accounting for over 70% of debt financing.
- Limited near term debt maturities.
Challenges Ahead
- Impact of rising interest rates in response to inflation.
- War in Russia and Ukraine.
- Ongoing COVID-19 pandemic.
- Significant market volatility impacting the business.
- Uncertainties related to future performance or financial condition.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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