Q2 26 EPS Adjusted
$0.34
BEAT +5.99%
Est. $0.32
Q2 26 Revenue
$401.3M
BEAT +2.06%
Est. $393.2M
vs S&P Since Q2 26
+3.2%
BEATING MARKET
OBDC +3.8% vs S&P +0.6%
Market Reaction
Did OBDC Beat Earnings? Q2 2026 Results
Blue Owl Capital Corp posted a solid beat across the board in Q2 2026, with adjusted net investment income per share of $0.34 clearing the $0.32 consensus estimate by 5.99%, while total investment income of $401.34 million edged past the $393.25 mill… Read more Blue Owl Capital Corp posted a solid beat across the board in Q2 2026, with adjusted net investment income per share of $0.34 clearing the $0.32 consensus estimate by 5.99%, while total investment income of $401.34 million edged past the $393.25 million consensus by 2.06%, extending a year-over-year revenue gain of 34.4%. The headline figures were helped in part by higher dividend income and non-recurring other income tied to a preferred equity realization, which lifted sequential results even as the portfolio itself contracted to $14.96 billion across 229 companies amid subdued new commitments of just $319 million against $747 million in repayments. Net asset value per share slipped to $14.26 from $14.41 the prior quarter, weighed by markdowns on select names, though leverage improved to a two-year low of 1.11x net debt-to-equity, a point management leaned on as evidence that the company is well positioned to deploy capital selectively as market conditions stabilize; some institutional investors appear to share that view, with notable buying reported in recent months despite mixed sentiment in the analyst community.
Key Takeaways
- • Higher dividend income and non-recurring other income from preferred equity realization drove sequential investment income increase
- • Decline in average investments over the period partially offset income growth
- • Lower interest expense from decline in daily average borrowings from $9.3 billion to $8.4 billion
- • Accretive share repurchases of approximately $35 million
- • Net portfolio contraction as repayments of $747 million exceeded $219 million in fundings
OBDC Forward Guidance & Outlook
OBDC expects investment income to vary based on the pace of originations and repayments, spreads of new deployments, and base rate movements. Management sees market conditions stabilizing and investment opportunities becoming increasingly attractive, and believes the company is well positioned to deploy capital selectively with leverage at a two-year low and strong liquidity.
OBDC YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
OBDC Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased with OBDC's performance this quarter, generating strong earnings resulting in a 9.6% annualized return on adjusted net investment income and healthy dividend coverage. Portfolio company operating trends remained stable, and credit performance continued to track in line with expectations.”
— Craig W. Packer, Q2 2026 Earnings Press Release
OBDC Earnings Trends
OBDC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
OBDC EPS Trend
Earnings per share: estimate vs actual
OBDC Revenue Trend
Quarterly revenue: estimate vs actual
OBDC Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.32 | $0.34 | +5.99% | $401.3M | +2.06% |
| Q1 26 MISS | $0.35 | $0.31 | -10.74% | $396.8M | -5.91% |
| Q4 25 BEAT FY | $0.36 | $0.36 | +1.12% | $447.8M | -0.71% |
| FY Full Year | $1.52 | $1.24 | -18.47% | $1.85B | +0.09% |
| Q3 25 MISS | $0.39 | $0.36 | -8.68% | $453.1M | -2.89% |
| Q2 25 BEAT | $0.40 | $0.40 | +0.43% | $485.8M | +1.19% |
| Q1 25 MISS | $0.43 | $0.39 | -9.58% | $464.6M | -1.05% |