Q2 26 EPS
$0.43
BEAT +1.75%
Est. $0.42
Q2 26 Revenue
$97.8M
BEAT +2.69%
Est. $95.3M
vs S&P Since Q2 26
+7.3%
BEATING MARKET
TSLX +7.8% vs S&P +0.5%
Market Reaction
Did TSLX Beat Earnings? Q2 2026 Results
Sixth Street Specialty Lending, Inc. (NYSE: TSLX) delivered a modest beat in its second-quarter 2026 results, with net investment income of $0.43 per share edging past the $0.42 consensus estimate by 1.75%, while total investment income of $97.84 mil… Read more Sixth Street Specialty Lending, Inc. (NYSE: TSLX) delivered a modest beat in its second-quarter 2026 results, with net investment income of $0.43 per share edging past the $0.42 consensus estimate by 1.75%, while total investment income of $97.84 million topped expectations by 2.69%, though it still fell 13.0% from the year-ago period. The primary culprit behind the year-over-year revenue compression was the rate environment: the weighted average interest rate on the portfolio's debt holdings slipped from 6.3% to 5.6%, eroding the income generation that had been more robust when benchmark rates were higher. Net asset value per share held steady at $16.24 quarter-over-quarter, a relative stabilizer in an otherwise pressured earnings picture, as NII essentially covered the $0.42 base dividend with no supplemental dividend declared. Origination activity slowed sharply to $114.60 million in new commitments, down from $297.70 million a year ago, though the portfolio remained defensively positioned with 88.3% in first-lien debt and non-accruals edging down to 1.3% of fair value.
Key Takeaways
- • Lower reference rates reduced investment income year-over-year
- • Decrease in average interest rate on debt outstanding from 6.3% to 5.6% lowered expenses
- • Portfolio weighted average yield at fair value held at 11.1%, down from 11.7% a year ago
- • 96.1% floating rate debt investments with 100% subject to reference rate floors
- • Non-accrual status declined slightly to 1.3% of portfolio at fair value from 1.4%
TSLX YoY Financials
Q2 2026 vs Q2 2025, 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
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.42 | $0.43 | +1.75% | $97.8M | +2.69% |
| 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% |