Live Nasdaq Composite: Micron Lifts Market Boat Alongside Mixed Economic Signals
Q2 25 EPS
$0.56
BEAT +6.12%
Est. $0.53
Q2 25 Revenue
$115.0M
BEAT +4.16%
Est. $110.4M
vs S&P Since Q2 25
-42.5%
TRAILING MARKET
TSLX -26.6% vs S&P +15.9%
Market Reaction
Did TSLX Beat Earnings? Q2 2025 Results
Sixth Street Specialty Lending posted a solid beat in the second quarter of 2025, with adjusted net investment income of $0.56 per share clearing the $0.53 consensus estimate by 6.12%, while revenue of $115.02 million topped expectations by 4.16% and… Read more Sixth Street Specialty Lending posted a solid beat in the second quarter of 2025, with adjusted net investment income of $0.56 per share clearing the $0.53 consensus estimate by 6.12%, while revenue of $115.02 million topped expectations by 4.16% and grew 26.1% year over year. The headline driver was a sharp swing in unrealized gains, as the business development company recorded $45.04 million in net unrealized gains compared to net unrealized losses of $9.49 million in the year-ago quarter, lifting net income to $59.00 million, or $0.63 per share. That improvement came despite total investment income declining to $115.02 million from $121.81 million a year ago, a compression largely attributed to lower reference rates pulling the portfolio's weighted average yield to 11.7% from 13.8%. Net asset value per share edged up to $17.17 from $17.04 at quarter-end March 2025, and non-accrual investments fell to 0.6% of portfolio fair value, while the board declared a $0.46 base dividend and a $0.05 supplemental dividend for the coming quarter.
Key Takeaways
- • Lower interest rates reduced investment income but also reduced net expenses on debt outstanding
- • Higher activity-based fee income partially offset interest rate declines
- • Net unrealized gains of $45.0 million from investments drove net income growth
- • Restructuring of Lithium Technologies reduced non-accrual investments from 1.2% to 0.6% of portfolio fair value
- • Continued overearning of base quarterly dividend supported NAV per share growth
TSLX YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
TSLX Earnings Trends
TSLX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TSLX EPS Trend
Earnings per share: estimate vs actual
TSLX Revenue Trend
Quarterly revenue: estimate vs actual
TSLX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.50 | $0.42 | -15.15% | $93.4M | -9.64% |
| Q4 25 BEAT FY | $0.50 | $0.53 | +5.20% | $108.2M | +1.88% |
| FY Full Year | $2.17 | $2.23 | +2.70% | $449.1M | +1.32% |
| Q3 25 BEAT | $0.52 | $0.53 | +1.83% | $109.4M | +0.71% |
| Q2 25 BEAT | $0.53 | $0.56 | +6.12% | $115.0M | +4.16% |
| Q1 25 BEAT | $0.55 | $0.58 | +4.77% | $116.3M | -0.30% |