Company says it remains well positioned with $6.0 bln in available liquidity
Ares Capital reports investment backlog of $1.5 bln as of July 23, 2026
Q2 results and dividend
US specialty finance firm's Q2 core EPS matched analyst expectations
GAAP net income per share fell yr/yr due to higher unrealized losses
Company declared Q3 2026 dividend of $0.48 per share
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Meet
$0.47
$0.47 (14 Analysts)
Q2 EPS
$0.24
Q2 Net Income
$171 mln
Result drivers and market context
Stable core earnings - Co said results were supported by consistent core earnings and healthy portfolio performance, with historically low levels of non-accruing loans and problem assets, per CEO Kort Schnabel
Selective investing - Co said slower transaction environment allowed it to be highly selective and capture enhanced economics in attractive credits
Balance sheet actions - Co cited raising $1.2 bln in new financing, upsizing and extending credit facilities, and launching a commercial paper program as steps to enhance liquidity and flexibility, per CFO Scott Lem
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell". The average consensus recommendation for the investment management & fund operators peer group is "hold."
Wall Street's median 12-month price target for Ares Capital Corp is $21.00, about 10.3% above its July 28 closing price of $19.04. The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago.
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