Business
Oaktree Specialty Lending Corporation Announces Fourth Fiscal Quarter and Full Year 2024 Financial Results and Declares Quarterly Distribution of $0.55 Per Share
LOS ANGELES, CA, Nov. 19, 2024 (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. 19, 2024 (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, 2024. Financial Highlights for the Quarter and Year Ended September 30, 2024 Total investment income was $94.7 million ($1.15 per share) and $381.7 million ($4.75 per share) for the fourth fiscal quarter of 2024 and full year, as compared with $95.0 million ($1.16 per share) and $379.3 million ($5.26 per share) for the third fiscal quarter of 2024 and full year of 2023. Adjusted total investment income was $95.0 million ($1.16 per share) and $385.9 million ($4.80 per share) for the fourth fiscal quarter and full year ended September 30, 2024, as compared with $95.6 million ($1.17 per share) and $376.4 million ($5.22 per share) for the third fiscal quarter of 2024 and full year of 2023. The decrease for the quarter was primarily driven by lower interest income due to the impact of certain investments that were placed on non-accrual status, partially offset by higher original issue discount (\"OID\") acceleration from investment repayments and higher prepayment fee income. The increase for the full year was primarily driven by higher interest income, which was attributable to a larger investment portfolio and higher OID acceleration from investment repayments, higher prepayment and amendment fees and higher dividend income from the Company's investment in Senior Loan Fund JV I, LLC (\"SLF JV I\"). This was partially offset by the impact of certain investments that were placed on non-accrual status.GAAP net investment income was $44.9 million ($0.55 per share) and $175.1 million ($2.18 per share) for the fourth fiscal quarter and full year, as compared with $44.6 million ($0.54 per share) and $180.7 million ($2.51 per share) for the third fiscal quarter of 2024 and full year of 2023. The increase for the quarter was primarily driven by lower management fees (net of fees waived) and lower interest expense, partially offset by higher income-based (\"Part I\") incentive fees (net of fees waived) and lower total investment income. The decrease for the full year was primarily driven by higher interest expense, partially offset by higher total investment income, lower man...