Blue Owl Capital Inc. · NYSE:OWL
Blue Owl Capital — Blue Owl Capital Corporation II — Q3 2024 Earnings Presentation
15 slides from Blue Owl Capital's earnings presentation, November 2024
Slide 1: Blue Owl Capital Corporation II Quarterly Earnings Presentation
September 30, 2024 Blue Owl Capital Corporation II Quarterly Earnings Presentation FOR EXISTING INVESTORS ONLY. OBDC II IS CLOSED TO NEW INVESTMENTS. 1
Slide 2: Review of 3Q 2024
Review of 3Q 2024 • Net asset value per share of $8.84, down from $8.90 as of 6/30/2024 • Net investment income per share of $0.17, down from to $0.20 as of 6/30/2024 • Net income per share of $0.13, up from $0.11 as of 6/30/2024 Earnings Summary • Annualized ROE on net investment income and net inc
Slide 3: Financial Highlights
Financial Highlights (Dollar amounts in thousands, except per share data; per share data is based on weighted average shares outstanding during the period, except as otherwise noted) Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Net Investment Income Per Share $0.24 $0.22 $0.21 $0.20 $0.17 Net Realized a
Slide 4: Portfolio Highlights
Portfolio Highlights As of and For Three Months Ended (Dollar amounts in thousands) September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 Investments at Fair Value $2,104,272 $2,045,864 $1,990,298 $2,047,602 $2,051,865 Number of Portfolio Companies 155 159 167 176 183
Slide 5: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity For Three Months Ended (Dollar amounts in thousands) September 30, December 31, September 30, March 31, 2024 June 30, 2024 2023 2023 2024 Investment Activity at Par: New Investment Commitments (Net of Sell Downs) $51,027 $187,110 $198,690 $441,770 $163,
Slide 6: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix $2.1bn 183 31 $177mm 11.5% Portfolio Portfolio Portfolio Company Portfolio Size Portfolio Yield2 Companies Industries EBITDA1 <1% Weighted Average Borrower Statistics1: 5% 3% 2% 10% Q2 2024 Q3 2024 Revenue $827mm $822mm 90% Senior Secured EBITDA $179mm $177mm Net LTV
Slide 7: Portfolio Highlights – Diversification
Portfolio Highlights – Diversification Borrower Diversification Industry Diversification Internet software and services 10.7% Inovalon: 3.3% Associa: 3.1% Food and beverage 8.3% Weiman Products: 2.4% Sonny’s: 2.3% Moore: 2.3% Insurance 8.0% STS Aviation: 2.1% Winland Foods: 2.0% Healthcare technolog
Slide 8: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings Non-accrual investments at 09/30/2024 as a percentage of total debt investments at cost and fair value were 1.5% and 0.3%, respectively (Dollar amounts in thousands) Internal December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 Performa
Slide 9: Quarterly Statements of Financial Condition
Quarterly Statements of Financial Condition As of (Dollar amounts in thousands, except per share data; per share data is September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 based period end shares, except as otherwise noted) Assets Investments at Fair Value $2,104,27
Slide 10: Quarterly Operating Results Detail
Quarterly Operating Results Detail For the Three Months Ended (Dollar and share amounts in thousands) September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 Investment Income Interest Income $63,764 $64,726 $60,315 $59,299 $59,839 Dividend Income $4,021 $4,498 $5,140 $3
Slide 11: Debt Obligations and Maturity Ladder
Debt Obligations and Maturity Ladder Aggregate Principal Amount Principal Committed / Amount Debt Maturities ($mm) Outstanding Outstanding Interest Rate Maturity Date Revolving Credit $250 million $133 million SOFR + 200 1/12/2029 Facility $510 SPV Asset Facility 1 $375 million $105 million SOFR + 2
Slide 12: Dividend History
Dividend History Total Dividend Per Total Dividend Per Date Declared Dividend Type Share Date Declared Dividend Type Share 2/27/2019 Weekly Distributions for Aor. 2019 – Jun. 2019 $0.17 11/1/2022 Additional Quarterly Distribution for Dec. 2022 $0.02 5/8/2019 Weekly Distributions for Jul. 2019 – Sept
Slide 13: Risk Factors
Risk Factors An investment in Blue Owl Capital Corporation II (“OBDC II”) is speculative and involves a high degree of risk, including the risk of a substantial loss of investment, as well as substantial fees and costs, all of which can impact an investor's return. The following are some of the risk
Slide 14: Important Information
Important Information Unless otherwise noted the Report Date referenced herein is as of 9/30/24. Past performance is not a guarantee of future results. The information contained in this presentation should be viewed in conjunction with the Company’s most recently-filed Quarterly Report on Form 10-Q
Slide 15: Slide 15
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