Ares Capital Q2 Earnings Surpass Estimates

(RTTNews) - Ares Capital Corporation (ARCC), an alternative investment manager, Tuesday reported net income of $322 million or $0.52 per share, higher than $331 million or $0.61 per share in the comparable quarter last year, driven mainly by increase in investment income.

Excluding one-time items, core earnings were $0.61 per share, that beat the analysts' average estimate of $0.58 per share. Analysts' estimates typically exclude special items.

Net investment income was $358 million, up from $314 million in the previous year.

Total investment income increased to $755 million from $634 million a year ago.

The company's Board has declared a third-quarter dividend of $0.48 per share, to be paid on September 30, to stockholders of record on 13, 2024.