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Owl Rock Capital's (ORCC) Q1 Earnings Miss, Decline Y/Y
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Owl Rock Capital Corporation’s first-quarter 2020 earnings per share of 37 cents missed the Zacks Consensus Estimate of 38 cents by 2.6%. Moreover, the bottom line declined 9.8% year over year.
This downside was mainly due to the turmoil in financial markets triggered by the COVID-19 pandemic.
Quarter in Detail
In the quarter, total investment income was $204.7 million, up 35.2% year over year. This upside can be attributable to strengthened investment portfolio.
New investment commitments were nearly $731 million, down 19.9% year over year.
The company concluded the first quarter with investments in 101 portfolio companies across 27 industries.
Net operating expenses of $56 million rose 4.8% year over year due to higher management fees, performance-based incentive fees, professional fees, directors' fees, and other general and administrative costs.
Owl Rock Capital Corporation Price, Consensus and EPS Surprise
In the first quarter, the company’s agent Goldman, Sachs & Co. bought back shares worth $48 million under the 10b5-1 Plan.
Financial Update
As of Mar 31, 2020, the company’s interest expenses of $34 million dipped 2.2% year over year.
As of Mar 31, 2020, the company had cash and restricted cash of $0.4 billion, an amount of $3.7 billion in total principal value of debt outstanding and $1.6 billion of undrawn capacity in credit facilities.
As of Mar 31, 2020, the company had total assets worth $9.4 billion, up 2.3% from the level at 2019 end.
It ended the first quarter with debt of nearly $3.6 billion, up 19.8% from the level at last-year end.
Net cash used in operating activities for the first quarter of 2020 totaled $0.3 billion, down 60.3% from the level at 2019 end.
Among other players from the finance sector having reported first-quarter earnings so far, the bottom line of American Express Company (AXP - Free Report) beat estimates while that of Discover Financial Services (DFS - Free Report) and Synchrony Financial (SYF - Free Report) missed the same.
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Owl Rock Capital's (ORCC) Q1 Earnings Miss, Decline Y/Y
Owl Rock Capital Corporation’s first-quarter 2020 earnings per share of 37 cents missed the Zacks Consensus Estimate of 38 cents by 2.6%. Moreover, the bottom line declined 9.8% year over year.
This downside was mainly due to the turmoil in financial markets triggered by the COVID-19 pandemic.
Quarter in Detail
In the quarter, total investment income was $204.7 million, up 35.2% year over year. This upside can be attributable to strengthened investment portfolio.
New investment commitments were nearly $731 million, down 19.9% year over year.
The company concluded the first quarter with investments in 101 portfolio companies across 27 industries.
Net operating expenses of $56 million rose 4.8% year over year due to higher management fees, performance-based incentive fees, professional fees, directors' fees, and other general and administrative costs.
Owl Rock Capital Corporation Price, Consensus and EPS Surprise
Owl Rock Capital Corporation price-consensus-eps-surprise-chart | Owl Rock Capital Corporation Quote
Share Repurchase Update
In the first quarter, the company’s agent Goldman, Sachs & Co. bought back shares worth $48 million under the 10b5-1 Plan.
Financial Update
As of Mar 31, 2020, the company’s interest expenses of $34 million dipped 2.2% year over year.
As of Mar 31, 2020, the company had cash and restricted cash of $0.4 billion, an amount of $3.7 billion in total principal value of debt outstanding and $1.6 billion of undrawn capacity in credit facilities.
As of Mar 31, 2020, the company had total assets worth $9.4 billion, up 2.3% from the level at 2019 end.
It ended the first quarter with debt of nearly $3.6 billion, up 19.8% from the level at last-year end.
Net cash used in operating activities for the first quarter of 2020 totaled $0.3 billion, down 60.3% from the level at 2019 end.
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 first-quarter earnings so far, the bottom line of American Express Company (AXP - Free Report) beat estimates while that of Discover Financial Services (DFS - Free Report) and Synchrony Financial (SYF - Free Report) missed the same.
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Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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