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Blackstone Secured Lending Fund (BXSL)
NYSE:BXSL
Earnings Data
Report Date
May 13, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.75Last Year’s EPS
0.83Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operating and portfolio fundamentals—NII covering the dividend, attractive yields, active deployment with attractive spreads, healthy EBITDA growth across the majority of portfolio companies, ample liquidity, tightened funding costs, and top-tier credit ratings. The primary negatives were concentrated unrealized markdowns (notably Medallia), a modest NAV decline, a small uptick in non-accruals, and public market valuation pressure on software that has increased headline risk. Management highlighted defensive portfolio construction, limited credit losses historically, and multiple capital allocation options (including a $250 million share repurchase program). Overall, the positive operational and credit metrics materially outweigh the contained pockets of underperformance and market-driven valuation noise.Company Guidance
Strong Quarter of Net Investment Income and Dividend Coverage
Net investment income (NII) of $186,000,000, or $0.80 per share, representing an 11.8% annualized return on equity; the $0.77 per share distribution was 104% covered by NII and implies an 11.4% annualized distribution yield on NAV.
Solid Annual and Since-Inception Returns
BXSL delivered a 9.6% net return for the year, outperforming the leveraged loan market by 360 basis points, and has an 11.2% annualized return since inception (seven years).
Active Deployment and Portfolio Growth
Portfolio increased to 316 companies across 40 industries in Q4; funded 13 new credits (average LTV at underwrite 41%; average spread near 500 bps) and completed 15 add-ons. Funded $1.0 billion for the second consecutive quarter and committed over $900 million.
Healthy Portfolio Fundamentals
Top 90% of portfolio companies grew EBITDA ~9% over the past 12 months, have interest coverage over 2x, and an average mark of 99; software sub-verticals in BXSL have seen ~40% EBITDA growth since underwrite and generate >2x interest coverage.
Balance Sheet Strength and Liquidity
Total portfolio investments at fair value of $14.2 billion, outstanding debt $8.1 billion, total net assets $6.2 billion; total liquidity of $2.5 billion (cash + undrawn facilities) and clear line-of-sight to $550 million of near-term repayments.
Low and Stable Credit Metrics
Non-accruals remained low at 0.6% at cost (0.5% at fair market value); BXSL’s historical realized loss rate for Blackstone’s North American direct lending is <10 basis points annualized across the platform.
Favorable Funding Costs and Credit Ratings
All-in cost of debt decreased to 4.93% from 5.24% in 2024; diversified liability profile including revolver priced at SOFR+153; ratings among top-three traded BDC peers with Moody’s Baa2 (stable), S&P BBB- (positive), Fitch BBB (stable).
Capital Allocation Optionality
Board approved discretionary share repurchase program up to $250 million to repurchase shares below NAV; management also has the ability to reinvest spillover income, delever, or allocate to new loans as repayment-driven capacity materializes.
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 |
|---|---|---|---|
Feb 25, 2026 | $23.84 | $24.65 | +3.40% |
Nov 10, 2025 | $26.49 | $26.60 | +0.42% |
Aug 06, 2025 | $30.26 | $29.32 | -3.11% |
May 07, 2025 | $27.90 | $28.15 | +0.90% |
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 May 13, 2026, TBA (Confirmed).
What is Blackstone Secured Lending Fund (BXSL) earnings time?
Blackstone Secured Lending Fund (BXSL) earnings time is at May 13, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BXSL EPS forecast?
BXSL EPS forecast for the fiscal quarter 2026 (Q1) is 0.75.