Owl Rock Capital Q3 reflects record originations, repayments

Nov. 03, 2021 5:49 PM ETOwl Rock Capital Corporation (ORCC)By: Max Gottlich, SA News Editor4 Comments

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  • Owl Rock Capital (NYSE:ORCC) beats Q3 net investment income and total investment income consensus estimates after a record level of both originations and repayments, said CEO Craig packer.
  • Shares of ORCC rise 1.6% in after-hours trading.
  • Q3 NII of $0.33 beats the $0.31 consensus estimate, up from $0.30 in the prior quarter and unchanged from the year-ago quarter.
  • Q3 total investment income of $269.2M also tops the $255.5M estimate, up from $249.02M and $187.06M in Q3 of last year.
  • Q3 gross originations of $3.3B substantially climbs from $957.02M in Q3 2020.
  • Q3 net asset value per share of $14.95 inches higher from $14.90 in the prior quarter and $14.67 in Q3 2020.
  • Interest income of $242M rises from $179.6M in Q2, down from $686.3M in the year-ago quarter.
  • Q3 interest expense of $56.52M increases from $37.4M in Q2 and from $159.04M in Q3 2020.
  • Management fee of $45.6M in Q3 increases from $36.5M in the prior quarter and from $131.7M in Q3 2020.
  • Conference call starts on Thursday at 10:00 a.m. ET.
  • Earlier, Owl Rock Capital NII beats by $0.02, beats on total investment income.

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