Why Is Owl Rock Capital Corporation (ORCC) Up 6.9% Since Last Earnings Report?
A month has gone by since the last earnings report for Owl Rock Capital Corporation (ORCC). Shares have added about 6.9% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Owl Rock Capital Corporation due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Owl Rock Capital Q1 Earnings Beat, Revenues Rise Y/Y
Owl Rock Capital Corporationreported first-quarter 2023 earnings per share of 45 cents, which beat the Zacks Consensus Estimate by a penny. The bottom line also improved from 31 cents a year ago. The results were supported by growth in the portfolio, increased interest rates and record net investment income. However, the positives were partially offset by higher costs.
The total investment income of ORCC amounted to $377.6 million, which increased from $350.5 million a year ago. The top line beat the Zacks Consensus Estimate by 3.4% and our estimate of $313 million.