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Jun 30, 2022
OFS Capital Q2 2022 Earnings Report
Announced financial results for the fiscal quarter ended June 30, 2022 and declared a distribution of $0.29 per common share for the third quarter of 2022.
Key Takeaways
OFS Capital Corporation announced its financial results for the second quarter of 2022, reporting a net investment income of $6.2 million, or $0.47 per common share. The company's net asset value per common share was $14.57 as of June 30, 2022.
Net investment income was $6.2 million, or $0.47 per common share.
Adjusted net investment income was $3.3 million, or $0.24 per common share.
Net loss on investments was $1.12 per common share, primarily due to unrealized losses.
Net asset value per common share was $14.57 as of June 30, 2022, a decrease from $15.52 at March 31, 2022.
Forward Guidance
OFS Capital believes its balance sheet is well positioned to navigate through an uncertain economic environment with rising interest rates and a slow down in the economy.
Positive Outlook
- Balance sheet is well positioned to navigate through an uncertain economic environment
- High percentage of floating rate loans in the portfolio
- Majority of liabilities have a fixed rate of interest
- Approximately, 98% of loan portfolio is senior secured
- 93% of loans are floating rate
Challenges Ahead
- Uncertain economic environment
- Rising interest rates
- Slow down in the economy
- No assurance that such a composition will lead to future success
- Net losses of $15.1 million in the second quarter of 2022
Historical Earnings Impact
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Avg. Return Before/After Earnings
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