Oxford Square Capital Corp

Oxford Square Capital Corp. posted a stronger-than-expected second quarter for fiscal 2026, with earnings per share of $0.05 beating the consensus estimate of $0.04 by 25.00%, while total investment income of $9.40 million cleared the $8.32 million analyst estimate by 12.98%, representing 26.8% growth year over year. The headline beat, however, carries meaningful nuance: net investment income fell to $5.14 million from $5.50 million a year ago, and NAV per share slipped to $1.29 from $2.06 a year earlier, with the per-share NII decline driven largely by significant share dilution stemming from the company's at-the-market offering program, which added roughly 11.3 million new shares during the quarter and raised approximately $17.80 million in net proceeds. On the portfolio side, CLO equity effective yields improved to 8.1% from 7.3% sequentially, providing a modest tailwind, while the board declared monthly distributions of $0.04 per share through December 2026, signaling continued commitment to its distribution schedule despite ongoing NAV pressure.