Ares Capital Corp

Ares Capital delivered a softer-than-expected first quarter for 2025, missing on both the top and bottom lines as realized and unrealized portfolio losses weighed on results. Core EPS came in at $0.50, falling 6.65% short of the $0.54 consensus estimate, while revenue of $732.00 million trailed the $769.95 million consensus by 4.93% — though total investment income still grew 14.6% year over year, underpinned by rising interest income and a jump in capital structuring service fees to $46.00 million from $28.00 million. The headline pressure stemmed primarily from $61.00 million in net realized losses and $63.00 million in net unrealized losses, a sharp reversal from the net unrealized gains recorded a year ago. Net asset value per share dipped modestly to $19.82, and the company maintained its $0.48 quarterly dividend — a consistency that matters for investors focused on <a href="https://247wallst.com/investing/2025/07/22/this-is-how-much-you-can-make-with-an-8-dividend-stock-in-10-years/">long-term dividend compounding</a>. Looking ahead, an investment backlog of approximately $2.60 billion and roughly $5.40 billion in available borrowing capacity suggest the incoming CEO, Kort Schnabel, has meaningful dry powder to deploy.