Business development company Oaktree Specialty Lending (NASDAQ: OCSL) will be reporting results this Wednesday morning. Here’s what to look for.
Oaktree Specialty Lending missed analysts’ revenue expectations last quarter, reporting revenues of $70.39 million, down 9.3% year on year. It was a softer quarter for the company, with a beat of analysts’ EPS estimates.
Is Oaktree Specialty Lending a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Oaktree Specialty Lending’s revenue to decline 7.8% year on year, improving from the 20.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.
Looking at Oaktree Specialty Lending’s peers in the specialty finance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. PROG delivered year-on-year revenue growth of 22.3%, beating analysts’ expectations by 0.8%, and Farmer Mac reported revenues up 24.9%, topping estimates by 3.4%. PROG traded down 4.4% following the results while Farmer Mac was up 3.5%.
Read our full analysis of PROG’s results here and Farmer Mac’s results here.
There has been positive sentiment among investors in the specialty finance segment, with share prices up 4.9% on average over the last month. Oaktree Specialty Lending’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $12.43 (compared to the current share price of $11.94).
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