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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.
OFS Capital
OFS Capital
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.