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Blue Owl Capital Corporation Reports Third Quarter Financial Results for 2025

On November 5, 2025, Blue Owl Capital Corporation (NYSE: OBDC) announced its financial outcomes for the third quarter ended September 30, 2025. The company showcased a robust performance against economic challenges, emphasizing its commitments to shareholders and consistent investment strategies.

Key Financial Highlights

During this quarter, Blue Owl reported a GAAP net investment income (NII) of $0.37 per share, while the adjusted NII per share came in at $0.36. This is a slight decrease from the $0.40 reported in the previous quarter ending June 30, 2025. The company also declared dividends for the fourth quarter set at $0.37 per share, translating to an impressive annualized yield of 9.9%

The net asset value (NAV) per share stood at $14.89, down from $15.03 in the prior quarter due to unrealized depreciation on a select few investments. Notably, Blue Owl secured new investment commitments totaling $1.3 billion, juxtaposed against $797 million in sales and repayments during this quarter, compared to $1.1 billion and $1.9 billion respectively for the previous quarter.

Investment Performance

The assessments showed that non-accrual investments represented only 1.3% of the portfolio at fair value, a rise from 0.7% the previous quarter. CEO Craig W. Packer attributed this ongoing solid performance to the resilience of the portfolio's credit quality, which has been a cornerstone of Blue Owl's platform since its inception.

In a strategic move to enhance shareholder value, Blue Owl Capital announced a definitive merger agreement with Blue Owl Capital Corporation II (OBDC II). This merger, which requires shareholder approvals, aims to consolidate operational efficiencies and enhance overall value for shareholders.

Dividends and Repurchase Program

Continuing its commitment to return capital to shareholders, the company declared a regular fourth-quarter dividend of $0.37 per share, payable to shareholders on record as of December 31, 2025.

Additionally, the board approved a new share repurchase program allowing Blue Owl to buy back up to $200 million of its common stock over the next 18 months. This initiative aligns with the company's strategy to manage capital effectively while enhancing shareholder returns.

Financial Overview

• - Investment Income: Total investment income for Q3 decreased to $453.1 million from $485.8 million in Q2, largely due to reduced income from debt investments.
• - Expenses: Total expenses fell to $260 million due to a decrease in management and incentive fees.

• - Liquidity Position: As of the quarter's end, the company maintained $321.3 million in cash and restricted cash, alongside a robust $9.6 billion in principal value of outstanding debt. The funding structure remained 48% secured and 52% unsecured borrowings.

Outlook and Webcast Information

Investors are encouraged to review additional details in the upcoming earnings call scheduled for November 6, 2025, at 10 AM ET, where management will discuss further insights on performance and strategic direction.

In summary, Blue Owl's third-quarter results reflect its robust investment strategies and commitment to delivering shareholder value through strategic mergers and consistent dividend payouts. As the company navigates through a complex economic landscape, its solid foundation and strategic foresight position it favorably for future growth.