Oaktree Specialty Lending (OCSL)
NASDAQ:OCSL
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
0.36Last Year’s EPS
0.38Same Quarter Last Year
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call balanced clear operational progress and defensive positioning with material near-term headwinds. Positive items include reduced nonaccruals, stronger liquidity ($671M, +$100M q/q), active realization activity ($334M in proceeds), and improving pricing and documentation in new deals (new deal spreads ~SOFR+500–550 bps; new-deal yields ~9.2%). Offsetting these positives were declines in NAV (from $16.30 to $15.69), a ~310 bps markdown in software loan marks, a drop in adjusted net investment income (to $0.38/sh), and a 36% q/q decline in new commitments. Management emphasized prudence, balance-sheet flexibility and the opportunity set created by wider spreads, resulting in a cautiously constructive tone but with notable risks that leave near-term performance mixed.Company Guidance
Nonaccruals Improved and Legacy Positions Monetized
Nonaccruals were 2.6% of the total debt portfolio at fair value, down from 3.1% last quarter and 4.6% a year ago. Post-quarter the company sold two legacy nonaccruals (Dominion Diagnostics and All Web Leads). Dominion generated $7 million in cash proceeds versus a $5 million mark as of December 31, 2025.
Stronger Liquidity and Lower Leverage
Available liquidity increased to $671 million (up $100 million q/q) including $51 million cash and $620 million undrawn capacity. Net leverage declined to 1.04x from 1.07x last quarter and remains within the long-term target of 0.9x–1.25x (management plans to run toward the mid- to low end).
Dividend Maintained with Prudent Payout Policy
Board declared a total cash dividend of $0.34 per share; base dividend adjusted to $0.30 per share while supplemental dividend remains at 50% of excess adjusted net investment income above the base, signaling a commitment to shareholder return with conservative leverage.
Attractive New-Deal Yields and Portfolio Yield Stability
Weighted average yield on debt investments was 9.3% (stable q/q). The weighted average yield on new debt investments was 9.2%, ~50 bps higher than the prior quarter. Management noted new private deals pricing at approximately SOFR + 500–550 bps (about 50–100 bps wider than 2025 tights).
Strong Realizations and Reduced ARR Exposure
Proceeds from prepayments, exits and paydowns were $334 million (up from $179 million q/q and $279 million y/y). Notable exit: Mindbody (an ARR software loan) exited at par; ARR exposure fell to 0.76% of fair value from 2.14% last quarter.
Defensive, Diversified Portfolio Construction
84% of portfolio (fair value) is first-lien senior secured debt; average position size is 0.7% of the debt portfolio with no single position >2% of fair value. Median portfolio company EBITDA ~ $182 million; weighted average leverage and interest coverage were 5.2x and 2.1x respectively (consistent with prior quarter).
OCSL 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
OCSL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 05, 2026 | $12.90 | $12.16 | -5.74% |
Feb 04, 2026 | $11.70 | $12.09 | +3.30% |
Nov 18, 2025 | $12.47 | $12.47 | 0.00% |
Aug 05, 2025 | $12.27 | $12.06 | -1.70% |
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 Jul 30, 2026, Before Open (Confirmed).
What is Oaktree Specialty Lending (OCSL) earnings time?
Oaktree Specialty Lending (OCSL) earnings time is at Jul 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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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 2026 (Q3) is 0.36.