Oaktree Specialty Lending reports 4Q loss
Nov. 29, 2017
LOS ANGELES (AP) — Oaktree Specialty Lending Corp. (OCSL) on Wednesday reported a loss of $125.5 million in its fiscal fourth quarter.
The Los Angeles-based company said it had a loss of 89 cents per share. Earnings, adjusted for investment costs, came to 8 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The specialty finance company posted revenue of $35.7 million in the period.
For the year, the company reported that its loss widened to $197 million, or $1.39 per share. Revenue was reported as $178 million.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OCSL at https://www.zacks.com/ap/OCSL
This story has been corrected to show that the company changed its name to Oaktree Specialty Lending Corp. from Fifth Street Finance Corp., and is now based in Los Angeles, not Greenwich, Connecticut.