Published on 11 May 2023 on Zacks via Yahoo Finance
Owl Rock Capital (ORCC) Q1 Earnings Beat, Revenues Rise Y/Y
Owl Rock Capital Corporation ORCC reported first-quarter 2023 earnings per share of 45 cents, which beat the Zacks Consensus Estimate by a penny. The bottom line also improved from 31 cents a year ago. The results were supported by growth in the portfolio, increased interest rates and record net investment income. However, the positives were partially offset by higher costs.
The total investment income of ORCC amounted to $377.6 million, which increased from $350.5 million a year ago. The top line beat the Zacks Consensus Estimate by 3.4% and our estimate of $313 million. ORCC achieved a record net investment income on the back of constant earnings momentum from high-interest rates.
Owl Rock Capital Corporation Price, Consensus and EPS Surprise