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Dec 31, 2024
Blue Owl Q4 2024 Earnings Report
Blue Owl Capital Corporation reported strong Q4 2024 earnings, with net investment income per share of $0.47 and net asset value per share of $15.26.
Key Takeaways
Blue Owl Capital Corporation delivered a solid Q4 2024, reporting net investment income per share of $0.47, exceeding its base dividend by 27%. The company declared a total dividend of $0.42 per share, including a $0.05 supplemental dividend. Net asset value per share was $15.26, slightly down from the prior quarter due to unrealized losses from credit marks. Investment activity remained strong with $1.7 billion in new commitments, while non-accrual investments declined to 0.4% of the portfolio.
Net investment income per share of $0.47, exceeding base dividend by 27%.
Total dividends declared for Q4 2024 amounted to $0.42 per share.
Net asset value per share was $15.26, slightly down from the prior quarter.
New investment commitments totaled $1.7 billion, offset by $1.6 billion in sales and repayments.
Blue Owl
Blue Owl
Forward Guidance
Blue Owl Capital Corporation expects to build on its strong performance in 2025, leveraging enhanced scale from its recent merger with OBDE. The company remains optimistic about investment opportunities and portfolio resilience but acknowledges potential risks from market volatility.
Positive Outlook
- Continued strong portfolio performance and credit quality.
- Expected benefits from the completed merger with OBDE.
- Robust investment activity with over $1.7 billion in new commitments in Q4.
- Well-capitalized with $505.7 million in cash and access to credit facilities.
- Stable and attractive dividend policy with strong coverage.
Challenges Ahead
- Unrealized losses from credit marks impacted NAV per share.
- Potential headwinds from macroeconomic uncertainties.
- Interest rate fluctuations may impact borrowing costs and investment returns.
- Competitive pressures in the middle-market lending space.
- Market volatility could affect asset valuations and credit quality.