The earnings call reflected a mix of positive outcomes and challenges. Key highlights included successful refinancing activities, reduction in nonaccruals, and promising investment opportunities. However, there were notable declines in adjusted net investment income and total investment income, along with market uncertainties affecting M&A activity. Overall, the positive developments were balanced by the challenges faced.

Company Guidance -

Q4 2025

During Oaktree Specialty Lending Corporation's third fiscal quarter of 2025 call, several key metrics were addressed. The company's net asset value (NAV) slightly increased, while adjusted net investment income dropped to $0.37 per share due to nonrecurring and noncash refinancing activities. A base dividend of $0.40 per share was approved. The firm managed to reduce nonaccruals, and leverage reached its lowest level in three years at a net ratio of 0.93x. The weighted average yield on new debt investments was 9.1%, and the weighted average leverage in the portfolio slightly decreased to 5.1x. Meanwhile, the median EBITDA of portfolio companies rose to approximately $161 million. The company highlighted its focus on first lien loans and diversification, with significant investments in companies like Draken International and Lyons Magnus, emphasizing their strong market positions and recurring revenue. Oaktree's joint ventures held $442 million in investments, with leverage at 1.3x, and they generated an ROE of 10.5%. The conference call also noted that Oaktree Specialty Lending is actively pursuing opportunities in asset-backed financing and infrastructure debt, with a focus on high-quality companies in stable sectors.

NAV Increase and Nonaccrual Reduction

Net Asset Value (NAV) was up slightly this quarter. The company made progress in restructuring or exiting challenged names within the portfolio, reducing nonaccruals as a percentage of both fair value and cost.

Successful Refinancing Activities

OCSL successfully amended and extended the maturity of their senior secured revolving facility, reducing the interest rate from SOFR plus 2% to SOFR plus 1.75% to 1.875%. This allowed termination of a higher-cost ABL facility priced at SOFR plus 2.35%, reducing overall interest expense.

Strong Investment Opportunities Identified

OCSL is identifying more value in middle market lending, asset-backed financing, and life sciences, with increased opportunities in Europe supported by favorable valuation metrics.

Encouraging Nonaccrual Resolution

Telestream Holdings was removed from nonaccrual status after restructuring, and significant cash paydowns were received from Mosaic, contributing to the decline in nonaccruals.

Leveraged Joint Ventures for Returns

Joint ventures hold $442 million in investments, generating ROEs of 10.5% in aggregate, with leverage at 1.3x.

Oaktree Specialty Lending (OCSL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

OCSL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 19, 2025	2025 (Q4)	0.39 / -	0.55	―	―	―
Aug 05, 2025	2025 (Q3)	0.45 / 0.38	0.54	-29.63% (-0.16)
May 01, 2025	2025 (Q2)	0.51 / 0.45	0.56	-19.64% (-0.11)
Feb 04, 2025	2025 (Q1)	0.53 / 0.54	0.57	-5.26% (-0.03)
Nov 19, 2024	2024 (Q4)	0.56 / 0.55	0.62	-11.29% (-0.07)
Aug 01, 2024	2024 (Q3)	0.56 / 0.54	0.63	-14.29% (-0.09)
Apr 30, 2024	2024 (Q2)	0.57 / 0.56	0.63	-11.11% (-0.07)
Feb 01, 2024	2024 (Q1)	0.61 / 0.57	0.63	-9.52% (-0.06)
Nov 14, 2023	2023 (Q4)	0.63 / 0.62	0.54	14.81% (+0.08)
Aug 03, 2023	2023 (Q3)	0.64 / 0.63	0.51	23.53% (+0.12)

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

OCSL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$13.51	$13.28	-1.70%
May 01, 2025	$13.98	$12.88	-7.87%
Feb 04, 2025	$15.02	$14.61	-2.73%
Nov 19, 2024	$14.69	$14.20	-3.34%

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 Oaktree Specialty Lending (OCSL) report earnings?

Oaktree Specialty Lending (OCSL) is schdueled to report earning on Nov 19, 2025, Before Open (Confirmed).

What is Oaktree Specialty Lending (OCSL) earnings time?

Oaktree Specialty Lending (OCSL) earnings time is at Nov 19, 2025, Before Open (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 OCSL EPS forecast?

OCSL EPS forecast for the fiscal quarter 2025 (Q4) is 0.39.

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