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Shares of Ares Capital (NASDAQ:ARCC) rose 0.7% in pre-market trading after the company reported Q3 results.
Earnings per share decreased 18.75% year over year to $0.39, which beat the estimate of $0.38.
Revenue of $352,000,000 declined by 9.04% year over year, which beat the estimate of $346,890,000.
Ares Capital hasn't issued any earnings guidance for the time being.
Ares Capital hasn't issued any revenue guidance for the time being.
Details Of The Call
Date: Oct 27, 2020
Time: 12:00 PM
Company's 52-week high was at $19.33
Company's 52-week low was at $7.90
Price action over last quarter: down 4.53%
Ares Capital Corp is a US-based closed-ended specialty finance company. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. The company focuses on investing primarily in U.S. middle-market companies with investment opportunities as well as in larger companies. Its portfolio comprises of first lien senior secured loans, second lien senior secured loans and mezzanine debt (subordinated unsecured loan) which may include equity components which are diversified by industry and sector. The company may invest in preferred and common equity investments to a lesser proportion. Its revenue mainly consists of interest and dividend income received from the investment made.
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