OFS Capital (OFS) Tops Q2 EPS by 1c

OFS Capital (NASDAQ: OFS) reported Q2 EPS of $0.34, $0.01 better than the analyst estimate of $0.33.

• Net investment income of $4.56 million, or $0.34 per share.
• Net asset value ("NAV") per share increased to $13.70 at June 30, 2018 from $13.67 per share at March 31, 2018.
• At June 30, 2018, 80% of our loan portfolio consisted of senior secured loans, based on fair value.
• Closed investments in the second quarter of 2018 totaled approximately $47.0 million. As of August 3, 2018, we closed approximately $17.3 million of additional new investments during the third quarter of 2018.
• As of June 30, 2018, 77% of the fair value of our loan portfolio was floating rate, and the weighted average yield of our loan portfolio was 12.26%(1).
• As of June 30, 2018, our debt had a weighted average cost of 4.37%.
• As of June 30, 2018, 96% of our debt was fixed rate and over 86% of our debt matures after 2023.
• On July 31, 2018, OFS Capital's Board of Directors declared a distribution of $0.34 per share for the third quarter of 2018, payable on September 28, 2018 to stockholders of record as of September 14, 2018.

"The second quarter was a strong period for us," said Bilal Rashid, OFS Capital's Chairman and Chief Executive Officer. "Our net investment income per share was in line with our current distribution rate and we just declared our 23rd straight $0.34 per share quarterly distribution. We believe that our loan portfolio, which is predominantly senior secured, is performing well as evidenced by the increase in our NAV this quarter. We expect our portfolio to be well positioned for a rising interest rate environment as a vast majority of our loan portfolio is floating rate and our liabilities are largely fixed rate.

For earnings history and earnings-related data on OFS Capital (OFS) click here.

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