Q2 25 EPS
$0.40
BEAT +0.43%
Est. $0.40
Q2 25 Revenue
$485.8M
BEAT +1.19%
Est. $480.1M
vs S&P Since Q2 25
-36.8%
TRAILING MARKET
OBDC -17.9% vs S&P +18.9%
Market Reaction
Did OBDC Beat Earnings? Q2 2025 Results
Blue Owl Capital Corporation posted a modest beat in its second quarter of 2025, with adjusted net investment income per share of $0.40 edging past the $0.40 consensus estimate by 0.43%, while total investment income of $485.84 million topped expecta… Read more Blue Owl Capital Corporation posted a modest beat in its second quarter of 2025, with adjusted net investment income per share of $0.40 edging past the $0.40 consensus estimate by 0.43%, while total investment income of $485.84 million topped expectations by 1.19% and more than doubled year-over-year, up 101.0%. The headline driver behind the revenue strength was a surge in prepayment-related income and accelerated fee amortization, which totaled $32.10 million in the quarter versus just $8.20 million in Q1, a non-recurring tailwind that management was candid in flagging. Net asset value per share slipped to $15.03 from $15.14 sequentially, pressured by $79.20 million in net realized and unrealized losses tied to write-downs on a small number of portfolio companies. Origination activity was notably quieter, with new commitments of $1.10 billion falling well short of $1.90 billion in repayments. Looking ahead, CEO Craig Packer pointed to $3.70 billion in undrawn credit capacity as a foundation for pursuing opportunities across varying economic conditions.
Key Takeaways
- • Surge in prepayment-related income and accelerated amortization of upfront fees from unscheduled paydowns ($32.1 million vs. $8.2 million in Q1 2025)
- • Elevated repayment activity with $1.9 billion in sales and repayments during Q2
- • Portfolio of predominantly floating rate debt investments (97.6%) generating income linked to SOFR
- • Completion of OBDE merger in January 2025 expanded portfolio and drove higher management and incentive fees
- • Non-accruals improved to 0.7% of portfolio at fair value from 0.8% in Q1
OBDC YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
OBDC Revenue by Segment
With YoY comparisons, source: SEC Filings
“OBDC delivered another quarter of solid earnings and generated a 10.6% annualized return on adjusted net investment income.”
— Craig W. Packer, Q2 2025 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
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| 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% |