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Owl Rock Capital (ORCC) Q4 Earnings Up Y/Y on High Investment

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Owl Rock Capital Corporation’s ORCC fourth-quarter 2019 earnings per share of 36 cents improved 100% year over year due to higher net investment income.

Quarter in Detail

In the quarter, total investment income was $202.3 million, up 75.4% year over year. New investment commitments were nearly $1 billion.

The company concluded the fourth quarter with investments in 98 portfolio companies.

Its interest expenses were $35.4 million. For the quarter under review, total expenses were $98.3 million.

As of Dec 31, 2019, the company had cash and restricted cash of $317.2 million.

Owl Rock Capital Corporation Price, Consensus and EPS Surprise

 

Owl Rock Capital Corporation Price, Consensus and EPS Surprise

Owl Rock Capital Corporation price-consensus-eps-surprise-chart | Owl Rock Capital Corporation Quote

As of Dec 31, 2019, the company had net assets worth $6 billion, up 83.1% from the level at the end of 2018.It ended the fourth quarter with debt of nearly $3 billion, up 18.3% from the last year-end level.

Full Year Update

Total investment income of the company was $718 million, up 84.6% from the 2018-end level. The upside can be attributed to a higher investment portfolio.
In 2019, new investment commitments decreased 14.7% year over year to $4.4 billion.

The company’s interest expenses of $136.4 million surged 77.7% from the 2018-end level. For 2019, total operating expenses skyrocketed 104.3% to $290.5 million due to higher interest expenses, management fees, performance-based incentive fees, professional fees, directors’ fees, and other general and administrative costs.

Net cash used in operating activities for 2019 totaled $2.5 billion, down 20.3% from the 2018-end level.

Zacks Rank & Peer Releases

Owl Rock Capital currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other players from the finance sector, having reported fourth-quarter earnings so far, the bottom lines of Discover Financial Services DFS, Affiliated Managers Group, Inc. AMG and Navient Corporation NAVI beat estimates.

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