Blackstone Secured Lending Fund (BXSL)
NYSE:BXSL
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Earnings Data
Report Date
Aug 12, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.68Last Year’s EPS
0.77Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced clear evidence of operational resilience, strong liquidity, continued dividend coverage and strategic positioning (senior secured portfolio, low historical realized losses, AI/GPU franchise) against near-term mark-to-market pressure: a modest NAV decline, three concentrated nonaccruals and some slowdown in net new deployment/repayment turnover. Management emphasized defensive positioning, active asset management, and available capital (repayments and liquidity) to reinvest or repurchase shares, framing current weak marks as manageable within a long-term, income-driven private credit strategy.Company Guidance
Net Investment Income and Dividend Coverage
NII of $179 million or $0.77 per share in Q1, covering 100% of the quarterly dividend ($0.77). BXSL has out-earned its dividend every quarter since inception; since 2023 annualized earnings exceeded distribution yield by ~160 basis points.
Strong Liquidity and Balance Sheet
Total liquidity of $2.3 billion at quarter end; $13.9 billion of portfolio investments (FV), $8.1 billion of outstanding debt and $6.1 billion of net assets. Revolver upsized by $100 million to $2.5 billion and $10.2 billion of committed debt capacity.
Lower Cost of Debt
All-in cost of debt was 4.9% in Q1, down from 5.09% in Q1 2025. Weighted average drawn spread on asset-based facilities was SOFR +1.84, down 8 basis points year-over-year.
Healthy Repayments and Realizations
Deployed $325 million and saw nearly $450 million of repayments in Q1; provided visibility to over $600 million of repayments in the next 3–4 months. Notable repayments at par since Q4 exceeded $300 million (SelectQuote, Colony Hardware, Alliance Ground, AEVEX). Annualized repayment rate was 13% (vs. 15% prior quarter).
Senior Secured Positioning and Portfolio Resilience
~98% first lien exposure with ~50% junior capital/equity cushion on average. Portfolio averages include stable high single-digit LTM EBITDA growth, 28% EBITDA margins, interest coverage ~2x (up 17% vs. two years ago), and average mark ~96.2 (in line with broadly syndicated loan market).
Low Historical Realized Losses and Long-Term Outperformance
BXCI's North American direct lending strategy: over $160 billion invested historically with <10 basis points annual realized losses. BXSL delivered nearly 11% inception-to-date return, representing ~550 basis points excess return to broadly syndicated loans.
Reduced PIK and Amendment Activity
Payment-in-kind income <7% of total (down 21% QoQ). Only 30 amendments in the quarter, down 25% QoQ, with >95% related to add-ons, PDTL extensions or immaterial technical matters.
Strategic AI / GPU Infrastructure Investments
Led a $10 billion GPU-backed financing for Firmus Technologies; Blackstone has led/anchored nearly $25 billion of GPU financings. These loans are structured as senior secured first-lien on GPUs and leverage firm-wide AI capabilities and a partnership with Anthropic to support portfolio companies.
BXSL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BXSL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $24.55 | $24.36 | -0.77% |
Feb 25, 2026 | $23.07 | $23.85 | +3.40% |
Nov 10, 2025 | $24.91 | $25.01 | +0.42% |
Aug 06, 2025 | $28.46 | $27.57 | -3.11% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Blackstone Secured Lending Fund (BXSL) report earnings?
Blackstone Secured Lending Fund (BXSL) is schdueled to report earning on Aug 12, 2026, TBA (Confirmed).
What is Blackstone Secured Lending Fund (BXSL) earnings time?
Blackstone Secured Lending Fund (BXSL) earnings time is at Aug 12, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is BXSL EPS forecast?
BXSL EPS forecast for the fiscal quarter 2026 (Q2) is 0.68.