Ares Capital Q2: Earnings Beat, Rising Portfolio Yields & More
Portfolio Pulse from Lekha Gupta
Ares Capital Corp (NASDAQ:ARCC) reported Q2 2023 revenues of $634 million, beating the consensus of $622.05 million. Interest income from investments rose to $476 million from $319 million a year ago. Adjusted EPS of $0.58 surpassed the street estimate of $0.57. The company made new investment commitments of around $1.2 billion. The company's board of directors authorized an amendment to its share repurchase program, boosting the total authorized amount to $1.0 billion from $500 million. Ares Capital has declared a third quarter 2023 dividend of $0.48 per share.

July 25, 2023 | 12:37 pm
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Ares Capital Corp's Q2 2023 results beat estimates, with increased revenues, interest income, and EPS. The company also made significant new investment commitments and increased its share repurchase program.
Ares Capital Corp's better-than-expected Q2 2023 results, increased investment commitments, and expanded share repurchase program are likely to boost investor confidence and potentially drive the stock price up in the short term.
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