We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Owl Rock Capital's (ORCC) Q3 Earnings Fall Y/Y on Cost Woes
Read MoreHide Full Article
Owl Rock Capital Corporation’s third-quarter 2019 earnings per share of 31 cents declined 29.5% year over year due to rise in expenses, which outpaced growth in net investment income.
Net investment income of the company jumped 92.6% year over year to $137.9 million on the back of higher investment portfolio.
Results in Detail
In the quarter, new investment commitments decreased 10.1% year over year to $1.5 billion.
The company concluded the third quarter with investments in 96 portfolio companies across 27 industries.
The company’s interest expenses shot up 37.6% year over year to $29.4 million.
For the quarter under review, total operating expenses skyrocketed 111.3% to $81.6 million due to higher interest expense, management fees, performance-based incentive fees plus other general and administrative costs.
Capital Position
As of Sep 30, 2019, the company has cash and restricted cash of $197.6 million, up 30.2% year over year. It ended the third quarter with debt of $2.4 billion, down 4.2% from the last year-end level.
As of Sep 30, 2019, the company had total assets of $8.6 billion, up 44% from the level at 2018 end.
Net cash used in operating activities for the first nine months of 2019 totaled $2.1 billion, up 2.8% year over year.
As of Sep 30, 2019, member's equity stands at $183.9 million.
Among other players from the finance sector, having already reported third-quarter earnings, the bottom-line results of Global Life Inc. (GL - Free Report) , Discover Financial Services (DFS - Free Report) and Synchrony Financial (SYF - Free Report) topped the respective Zacks Consensus Estimate.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain. Download Free Report Now >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Owl Rock Capital's (ORCC) Q3 Earnings Fall Y/Y on Cost Woes
Owl Rock Capital Corporation’s third-quarter 2019 earnings per share of 31 cents declined 29.5% year over year due to rise in expenses, which outpaced growth in net investment income.
Net investment income of the company jumped 92.6% year over year to $137.9 million on the back of higher investment portfolio.
Results in Detail
In the quarter, new investment commitments decreased 10.1% year over year to $1.5 billion.
The company concluded the third quarter with investments in 96 portfolio companies across 27 industries.
The company’s interest expenses shot up 37.6% year over year to $29.4 million.
For the quarter under review, total operating expenses skyrocketed 111.3% to $81.6 million due to higher interest expense, management fees, performance-based incentive fees plus other general and administrative costs.
Capital Position
As of Sep 30, 2019, the company has cash and restricted cash of $197.6 million, up 30.2% year over year. It ended the third quarter with debt of $2.4 billion, down 4.2% from the last year-end level.
As of Sep 30, 2019, the company had total assets of $8.6 billion, up 44% from the level at 2018 end.
Net cash used in operating activities for the first nine months of 2019 totaled $2.1 billion, up 2.8% year over year.
As of Sep 30, 2019, member's equity stands at $183.9 million.
Zacks Rank
Owl Rock Capital carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Releases From the Finance Sector
Among other players from the finance sector, having already reported third-quarter earnings, the bottom-line results of Global Life Inc. (GL - Free Report) , Discover Financial Services (DFS - Free Report) and Synchrony Financial (SYF - Free Report) topped the respective Zacks Consensus Estimate.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>