Oaktree Specialty Lending Q3 profit declines on lower portfolio balance
OCSL•No specific guidance provided
The company did not provide specific guidance for the current quarter or full year.
NAV steady and distributions declared
Net asset value per share was stable at $15.70.
The company declared quarterly and supplemental cash distributions of $0.30 and $0.03 per share, respectively.
Q3 profit and income decline slightly
Oaktree Specialty Lending said fiscal third-quarter adjusted investment income and EPS declined slightly from the prior quarter.
The company reported Q3 adjusted EPS of $0.34 and investment income per share of $0.79. Investment income before tax was $32.82 million.
Lower portfolio balance and higher fees weigh on results
The company said the decrease in investment income was mainly due to a lower average portfolio balance.
It also said higher income-based incentive fees contributed to lower net investment income. Oaktree Specialty Lending restored one investment from non-accrual to accrual status and reduced the number of non-accrual investments.
