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Blue Owl Capital (OBDC)
NYSE:OBDC
Earnings Data
Report Date
May 13, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.35Last Year’s EPS
0.41Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple strong validations of portfolio quality: a $1.4B asset sale executed at ~99.7% of book value, a sizable accretive share buyback, a Moody's upgrade, healthy portfolio revenue/EBITDA growth, low nonaccruals and ample liquidity. These operational and credit strengths were tempered by macro-driven headwinds—lower base rates, ~30 bps spread compression, modest NAV decline and public-market skepticism that keeps the shares trading at a notable discount. Management has taken decisive capital-allocation actions (sales, buybacks, deleveraging) to position the fund for opportunities and to return capital to investors. Overall, the positive validations and proactive actions outweigh the challenges, though rate/spread trends and market sentiment remain watchpoints.Company Guidance
Large Asset Sales at Book Value
Completed a $1.4 billion opportunistic private asset sale across Blue Owl BDCs (including $600 million from OBDC II, ~35% of that fund, and $400 million from OBDC). Sales executed at average price ~99.7% of book value across ~130 names, validating valuation process and portfolio quality.
Significant Share Repurchases
Repurchased $148 million of OBDC stock in Q4 at an average ~14% discount to NAV (i.e., purchased at ~86% of NAV). Repurchases were accretive to NAV by approximately $0.05 per share. Board authorized a new repurchase program up to $300 million (replacing $200M).
Stable Quarterly Earnings and Dividend
Delivered adjusted net investment income (NII) per share of $0.36 in Q4 (consistent with prior quarter), representing a quarterly ROE of 9.7%. Board declared Q1 base dividend of $0.37 and maintained the regular dividend.
Strong Credit Metrics and Portfolio Performance
Portfolio-wide LTM revenue and EBITDA growth in Q4 were +8% and +11% YoY respectively, with acceleration vs. 2024. Nonaccrual rate declined to 1.1% from 1.3% QoQ. Interest coverage remains healthy at ~2x. Refinancings reduced PIK income to 10.3% from 13.2% YoY.
Sector-Level Strength (Software & Healthcare)
Software exposures (4 of top 25 investments) showed LTM revenue growth +10% and EBITDA growth +16% in Q4; healthcare (45 investments, $2.5B) showed revenue and EBITDA growth of +11% and +10% respectively—both outpacing many other sectors.
Active Origination and Scale
Deployed >$4 billion at OBDC in 2025 and $45 billion across Blue Owl direct lending platform. Direct lending platform had its third-largest origination quarter at >$12 billion; OBDC remained selective with fundings of $820M in the quarter.
Deleveraging and Liquidity Position
Net leverage reduced to 1.19x (from 1.22x), within target range 0.9–1.25x and modestly lower by ~0.05x from asset sale activity. OBDC had ~$570 million cash at year-end with an additional ~$400 million incoming from the sale; total cash and facility capacity ~ $4 billion, comfortably exceeding unfunded commitments.
Credit Rating Upgrade
Moody's upgraded OBDC in late January to Baa2 (noted as [BAA2]), reflecting strong portfolio and liability management capabilities—expected to help reduce future unsecured borrowing costs.
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 |
|---|---|---|---|
Feb 18, 2026 | $11.55 | $11.43 | -1.04% |
Nov 05, 2025 | $12.78 | $12.10 | -5.32% |
Aug 06, 2025 | $13.70 | $13.67 | -0.22% |
May 07, 2025 | $12.96 | $13.12 | +1.23% |
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 (OBDC) report earnings?
Blue Owl Capital (OBDC) is schdueled to report earning on May 13, 2026, Before Open (Confirmed).
What is Blue Owl Capital (OBDC) earnings time?
Blue Owl Capital (OBDC) earnings time is at May 13, 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 (Q1) is 0.35.