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Mar 31, 2024
OFS Capital Q1 2024 Earnings Report
Announced first quarter 2024 financial results and declared second quarter distribution of $0.34 per share.
Key Takeaways
OFS Capital Corporation announced its financial results for the fiscal quarter ended March 31, 2024. Net investment income increased to $0.42 per common share. The investment portfolio’s weighted-average performing income yield decreased to 13.0% from 14.1% during the prior quarter.
Net investment income increased to $0.42 per common share for the quarter ended March 31, 2024 from $0.35 per common share for the quarter ended December 31, 2023.
Net loss on investments of $1.09 per common share for the quarter ended March 31, 2024, primarily comprised of net unrealized depreciation of $1.15 per common share.
Net asset value decreased from $12.09 as of December 31, 2023 to $11.08 as of March 31, 2024.
As of March 31, 2024, based on fair value, 91% of the loan portfolio consisted of floating rate loans and approximately 100% of the loan portfolio consisted of first lien and second lien loans.
Forward Guidance
Management believes that the Company continues to benefit from the current interest rate environment due to a high percentage of floating rate loans in the portfolio and a majority of liabilities that have a fixed rate of interest.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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