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Dec 31, 2023
FS KKR Q4 2023 Earnings Report
FS KKR reported fourth quarter and full year 2023 results.
Key Takeaways
FS KKR Capital Corp. announced its financial results for the quarter and year ended December 31, 2023. The board of directors declared a first quarter 2024 distribution of $0.70 per share, combined with a previously declared $0.05 per share special distribution, resulting in a total first quarter distribution of $0.75 per share.
Net investment income was $0.71 per share.
Adjusted net investment income was $0.75 per share.
Net asset value was $24.46 per share.
Earnings per Share were $0.32.
FS KKR
FS KKR
Forward Guidance
FSK currently expects distributions to total a minimum of $2.90 per share in 2024.
Positive Outlook
- Increase in private market transaction activity is expected.
- FSK expects distributions to total a minimum of $2.90 per share.
- FSK's solid results reflect portfolio rotation work.
- FSK generated an annual return on equity of 10% in 2023.
- Shareholders received $2.95 per share of total distributions in 2023.
Challenges Ahead
- A few portfolio companies experienced challenges during the quarter.
- Challenges primarily relating to inflationary pressures.
- Challenges primarily relating to the higher interest rate environment.
- Investments on non-accrual status represented 5.5% of the total investment portfolio.
- Total net realized and unrealized loss of $0.39 per share.