Ares Capital Reports Q3 2026 Earnings with Increased GAAP Net Income and Reduced Leverage
Ares Capital Corporation (ARCC) reported its third-quarter 2026 financial results, highlighted by a significant increase in GAAP net income to $0.44 per share, up from $0.24 in the previous quarter. This growth was primarily driven by net unrealized appreciation resulting from mark-to-market improvements on investments. However, core earnings per share saw a slight decline to $0.46 due to lower capital structuring fees caused by elongated transaction timelines and macroeconomic uncertainty. The company maintained a strong liquidity position with $7 billion in pro forma available liquidity and successfully reduced its net leverage from 1.12x to 1.06x. Despite geopolitical volatility affecting M&A visibility, ARCC remains well-positioned with an investment backlog of $2.5 billion and a portfolio heavily weighted toward first lien senior secured loans. The firm declared a quarterly dividend of $0.48 per share for the fourth quarter.
Tickers: $ARCC
Topics: dividend declaration earnings report investment commitments net asset value net income
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