Business
Oaktree Specialty Lending Corporation Announces Fourth Fiscal Quarter and Full Year 2023 Financial Results and Declares Quarterly Distribution of $0.55 Per Share and Special Distribution of $0.07 Per Share
LOS ANGELES, CA, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Oaktree Specialty Lending Corporation (NASDAQ: OCSL) (“Oaktree Specialty Lending” or the “Company”), a
About this update from Oaktree Specialty Lending Corporation
[{"type":"text","content":"LOS ANGELES, CA, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Oaktree Specialty Lending Corporation (NASDAQ: OCSL) (“Oaktree Specialty Lending” or the “Company”), a specialty finance company, today announced its financial results for the fiscal quarter and year ended September 30, 2023. Financial Highlights for the Quarter and Year Ended September 30, 20231 Total investment income was $101.9 million ($1.32 per share) and $379.3 million ($5.26 per share) for the fourth fiscal quarter and full year, as compared with $101.9 million ($1.32 per share) and $262.5 million ($4.32 per share) for the third fiscal quarter of 2023 and the full year of 2022. Adjusted total investment income was $102.2 million ($1.32 per share) and $376.4 million ($5.22 per share) for fiscal quarter and full year ended September 30, 2023, as compared with $101.1 million ($1.31 per share) and $251.3 million ($4.14 per share) for the third fiscal quarter of 2023 and the full year of 2022. The increase for the quarter was primarily driven by higher original issue discount (“OID”) acceleration from investment repayments, partially offset by lower fee income. The increase for the full year was primarily driven by the impact of higher base rates on the Company’s floating rate debt portfolio and the growth of the investment portfolio from the assets acquired in the merger with Oaktree Strategic Income II, Inc. (“OSI2”) (the “OSI2 Merger”). GAAP net investment income was $47.5 million ($0.62 per share) and $180.7 million ($2.51 per share) for the fourth fiscal quarter and full year, as compared with $48.4 million ($0.63 per share) and $148.6 million ($2.45 per share) for the third fiscal quarter of 2023 and full year of 2022. The decrease for the quarter was primarily driven by higher interest expense, partially offset by lower base management fees (net of waivers). The increase for the full year was primarily driven by higher adjusted total investment income, partially offset by higher interest expense, incentive and base management fees, and other operating expenses. Adjusted net investment income was $47.8 million ($0.62 per share) and $177.8 million ($2.47 per share) for the fourth fiscal quarter and full year, as compared with $47.6 million ($0.62 per share) and $128.6 million ($2.12 per share) for the third fiscal quarter of 2023 and the full year of 2022. The increase fo...