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Morgan Stanley Direct Lending Fund (MSDL)
NYSE:MSDL
RESEARCH TOOLSreports
Earnings Data
Report Date
May 08, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.55Last Year’s EPS
0.63Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 27, 2025
|% Change Since: -0.24%
|Next Earnings Date:May 08, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a generally positive outlook with significant achievements such as a successful IPO, strong credit performance, and portfolio growth. However, challenges related to declining net investment income, interest rate impacts, and uncertainty in M&A activity were noted. The management remains optimistic about future opportunities.Company Guidance
During the Morgan Stanley Direct Lending Fund Q4 2024 earnings call, the company provided detailed guidance and insights into their financial performance and strategic outlook. The fund maintained a stable net asset value (NAV) per share at $20.81 quarter over quarter, while generating a net investment income of $0.57 per share, covering 114% of their regular dividend. A $0.10 special dividend was also declared. New investment commitments for Q4 2024 totaled approximately $188 million, with a net funded deployment of $144 million, up from $124 million in the previous quarter. The fund's debt to NAV ratio increased to 1.08 times, aligning with their target leverage range of 1 to 1.25 times. The portfolio's weighted average yield on debt and income-producing investments stood at 10.4% at cost and 10.5% at fair value, with a weighted average loan-to-value of approximately 40%. The company also emphasized the strength of their origination engine, noting that more than three-quarters of their non-refinancing gross deployment was to new borrowers, and over 90% of new borrowers were led or co-led by the fund. The management team expressed optimism for 2025, citing a resilient economy and potential market opportunities, while acknowledging challenges such as tariffs and regulatory uncertainty.Successful IPO and Capital Deployment
Executed IPO in January 2024 and continued prudent capital deployment efforts to generate attractive risk-adjusted returns.
Strong Operating and Credit Performance
Solid results for Q4, supported by strong underlying credit performance. Net investment income was $0.57 per share with 114% regular dividend coverage.
Increased Investment Commitments
New investment commitments totaled approximately $188 million in Q4, with net funded deployment of $144 million, an increase from $124 million in Q3.
Portfolio Growth
Total portfolio at fair value grew to $3.8 billion, representing a year-over-year increase of approximately 19%.
Strong Credit Metrics
Over 98% of the total portfolio had an internal risk rating of two or better, and non-accruals remained unchanged at just 20 basis points of the portfolio at cost.
Debt Restructuring and Credit Facility Extension
Executed an extension of the secured revolving credit facility, extending maturity to February 2030, lowering draw spread by 10 basis points, and increasing total commitment by $150 million to $1.45 billion.
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Morgan Stanley Direct Lending Fund (MSDL) Earnings, Revenues Date & History
MSDL 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
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MSDL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 27, 2025 | $20.70 | $20.24 | -2.22% |
| Nov 07, 2024 | $19.75 | $19.76 | +0.05% |
| Aug 08, 2024 | $18.35 | $18.75 | +2.18% |
| May 09, 2024 | $21.52 | $20.54 | -4.55% |
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.
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FAQ
When does Morgan Stanley Direct Lending Fund (MSDL) report earnings?
Morgan Stanley Direct Lending Fund (MSDL) is schdueled to report earning on May 08, 2025, TBA Not Confirmed.
What is Morgan Stanley Direct Lending Fund (MSDL) earnings time?
Morgan Stanley Direct Lending Fund (MSDL) earnings time is at May 08, 2025, TBA Not 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 MSDL EPS forecast?
MSDL EPS forecast for the fiscal quarter 2025 (Q1) is 0.55.
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