OFS Capital Q1 2023 Earnings Report
Key Takeaways
OFS Capital Corporation reported a net investment income of $0.37 per common share for the quarter ended March 31, 2023, an increase from $0.35 per common share for the quarter ended December 31, 2022. The investment portfolio's weighted-average performing income yield increased to 13.0% from 12.7% during the prior quarter. The Board of Directors declared a distribution of $0.33 per common share for the second quarter of 2023.
Net investment income of $0.37 per common share for the quarter ended March 31, 2023, an increase from $0.35 per common share for the quarter ended December 31, 2022.
Net loss on investments of $0.09 per common share, primarily comprised of unrealized losses; there were no new non-accrual loans.
Net asset value (“NAV”) per common share decreased from $13.47 at December 31, 2022 to $13.42 at March 31, 2023.
The investment portfolio’s weighted-average performing income yield increased to 13.0% from 12.7% during the prior quarter.
OFS Capital
OFS Capital
Forward Guidance
OFS Capital expects to continue to see the benefits of its positioning in this rising interest rate environment with the vast majority of its loan portfolio being floating rate and the majority of its debt being fixed-rate.