Blue Owl Capital Corporation (OBDC)
NYSE:OBDC
Want to see OBDC full AI Analyst Report?
Earnings Data
Report Date
Aug 12, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.33Last Year’s EPS
0.42Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call described a quarter with near-term earnings pressure driven by lower base rates, spread widening and slower deal activity that led to a NAV decline and a base dividend reset. However, underlying credit fundamentals remained solid (no new non-accruals, healthy borrower EBITDA/revenue growth), the balance sheet and liquidity were materially strengthened (net leverage reduced to 1.13x, >$4B liquidity, Moody's upgrade), active share repurchases and a larger repurchase authorization were executed, and management emphasized readiness to deploy into a more attractive spread environment. On balance, the strengths in credit performance, capital position, and long-term track record outweighed the transitory valuation and earnings headwinds.Company Guidance
Strong credit performance and low losses
No new non-accruals in the quarter; non-accrual rate declined to 1% at fair value. Historical loss experience remains low with average annual loss rates of ~31 basis points since inception.
Adjusted NII and base dividend alignment
Adjusted net investment income (NII) was $0.31 per share in Q1 2026; the Board set the Q2 base dividend at $0.31 per share and maintained the supplemental dividend framework (50% of NII above the base).
Strong liquidity and strengthened balance sheet
Liquidity expanded to over $4 billion (cash + facility capacity) following a $400 million unsecured note offering post-quarter; net leverage reduced to 1.13x (lowest level in two years) and is within the target range of 0.90x–1.25x.
Credit rating upgrade and market validation
Moody's upgraded the company to Baa2 in January, and the subsequent $400M unsecured note offering saw strong institutional demand, signaling market confidence in OBDC's credit profile.
Active capital return and buyback program
Repurchased $35 million of stock in Q1 (total $183M over the past two quarters). Board authorized a new $300 million repurchase program in February; approximately $265M remains available after Q1 activity.
Portfolio resilience and diversification
Broadly diversified across ~30 industries with average position size of ~40 bps; borrower revenue and EBITDA grew year-over-year in the high single digits, software borrowers showed low double-digit EBITDA growth.
Meaningful repayments and realizations from high-quality assets
Received meaningful repayments including Intelerad (full repayment after $2.3B sale to GE Healthcare) which reduced software exposure from ~19% to ~16% of the portfolio.
Specialty finance and JV performance
Increased allocation to life sciences specialty finance vehicle (LSI) supporting a $1B financing; LSI has generated returns of >14% to OBDC since inception, highlighting attractive JV/specialty finance economics.
Operational metrics supportive of credit health
Interest coverage improved to ~2.0x (up from trough ~1.6x); average loan marked at ~95.4 and current spread in book ~560 bps, underscoring expected recovery towards par on performing loans.
Long-term track record
On its ten-year anniversary, the fund delivered a 9.6% annualized total return since inception, reinforcing a demonstrated long-term performance history through multiple cycles.
OBDC 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
OBDC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 06, 2026 | $11.76 | $11.39 | -3.15% |
Feb 18, 2026 | $11.16 | $11.04 | -1.04% |
Nov 05, 2025 | $11.99 | $11.35 | -5.32% |
Aug 06, 2025 | $12.85 | $12.82 | -0.21% |
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 Blue Owl Capital Corporation (OBDC) report earnings?
Blue Owl Capital Corporation (OBDC) is schdueled to report earning on Aug 12, 2026, Before Open (Confirmed).
What is Blue Owl Capital Corporation (OBDC) earnings time?
Blue Owl Capital Corporation (OBDC) earnings time is at Aug 12, 2026, 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 OBDC EPS forecast?
OBDC EPS forecast for the fiscal quarter 2026 (Q2) is 0.33.