Fs Kkr Capital (FSK)
NYSE:FSK
Want to see FSK full AI Analyst Report?
Earnings Data
Report Date
Aug 10, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.42Last Year’s EPS
0.6Same Quarter Last Year
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call reflects a balanced but cautious outlook: results were negative this quarter with a near-10% NAV decline, rising nonaccruals and lower investment income and yields. Management and KKR announced an extensive, credible set of remedial actions — a $150M tender, $150M convertible preferred injection, $300M buyback authorization and a fee waiver — plus meaningful liquidity (pro forma $2.3B) and a plan to reduce leverage and new originations. While the strategic package materially addresses liquidity, shareholder alignment and NII support, the substantial portfolio-specific impairments and NAV volatility are significant near-term negatives. Overall, positive corrective actions are balanced by material, tangible underwriting and valuation issues in the portfolio.Company Guidance
Comprehensive Strategic Support Package Announced
KKR and FSK announced four coordinated actions: a $150 million fixed-price tender at $11 per share to provide liquidity; a $150 million investment by KKR via a cumulative convertible preferred security with an initial conversion price equal to 3/31/26 NAV ($18.83) and a 5% cash / 7% PIK dividend option; a $300 million share repurchase authorization (to be implemented after the tender); and a temporary 50% waiver of the subordinated income incentive fee by the adviser for four quarters to support net investment income and distributions.
Solid Liquidity and Buyback Funding Plan
Pro forma liquidity after a revolver amendment is $2.3 billion (includes undrawn debt capacity, cash and net receivables); FSK intends to use proceeds from the convertible preferred issuance to provide additional liquidity and to fund a portion of the $300 million buyback authorization.
Portfolio Composition Skewed Toward Senior, First-Lien Assets
As of 3/31/26 the $12.3 billion portfolio (236 companies) consisted of ~60% first-lien loans and ~64% senior secured debt (look-through including JV: ~69% first lien and ~73% senior secured), with the top 10 holdings representing ~20% of portfolio fair value (up from 19%).
Defensive Software & AI Risk Positioning
Software and services exposure is ~16% of the portfolio (52 issuers). An internal AI-risk review found ~86% of the portfolio at low AI risk, 11% medium, and 3% high. Median EBITDA of software holdings ~ $118 million and median LTV ~38%.
Expectations for Improved Net Investment Income and Portfolio Deleveraging
Management expects net investment income (NII) to be in the 8%–9% of NAV (annualized) range over coming quarters as the fund reduces new originations, focuses on portfolio construction and reduces leverage; management also expects net repayments in excess of $500 million in Q2.
Historical Investment Track Record
Since April 2018, FSK deployed approximately $34.5 billion of new transactions at an unlevered IRR of ~8.7%, demonstrating a long-running origination capability and track record.
Quarterly Dividend Maintained
The Board declared a Q2 distribution of $0.42 per share, consistent with paying 100% of GAAP net investment income on a per-share basis.
FSK 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
FSK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 11, 2026 | $10.84 | $10.76 | -0.74% |
Feb 25, 2026 | $12.70 | $10.76 | -15.24% |
Nov 05, 2025 | $13.47 | $13.86 | +2.84% |
Aug 06, 2025 | $17.68 | $16.23 | -8.20% |
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 Fs Kkr Capital (FSK) report earnings?
Fs Kkr Capital (FSK) is schdueled to report earning on Aug 10, 2026, After Close (Confirmed).
What is Fs Kkr Capital (FSK) earnings time?
Fs Kkr Capital (FSK) earnings time is at Aug 10, 2026, After Close (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 FSK EPS forecast?
FSK EPS forecast for the fiscal quarter 2026 (Q2) is 0.42.