Oaktree Specialty Lending: Fiscal 4Q Earnings Snapshot
LOS ANGELES (AP) _ Oaktree Specialty Lending Corp. (OCSL) on Thursday reported fiscal fourth-quarter net income of $33.3 million, after reporting a loss in the same period a year earlier.
The Los Angeles-based company said it had net income of 24 cents per share. Earnings, adjusted for investment gains, came to 12 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The specialty finance company posted revenue of $38.2 million in the period.
For the year, the company reported net income of $46.8 million, or 33 cents per share, swinging to a profit in the period. Revenue was reported as $138.7 million.
The company’s shares closed at $4.57. A year ago, they were trading at $5.20.