Ares Capital Stock Price, News & Analysis

Ares Capital Corporation (ARCC) has priced a $750 million public offering of unsecured notes with a 5.500% interest rate, maturing on September 1, 2030. The notes can be redeemed at any time at par plus a "make-whole" premium. The offering, led by multiple prominent financial institutions including BofA Securities, J.P. Morgan Securities, and RBC Capital Markets as joint book-running managers, is expected to close on June 3, 2025. The company plans to use the net proceeds to repay existing debt facilities, with the option to reborrow for general corporate purposes, including portfolio company investments.

Ares Capital Corporation (NASDAQ: ARCC) announced its Q1 2025 financial results and declared a Q2 2025 dividend of $0.48 per share, payable June 30, 2025. Key highlights include:

The company reported net investment income of $365 million ($0.54 per share), while GAAP net income decreased to $241 million ($0.36 per share) compared to $449 million ($0.76 per share) in Q1 2024. Portfolio investments reached $27.13 billion at fair value.

Notable developments include:

• Leadership transition: CEO Kipp deVeer stepping down, Kort Schnabel taking over April 30
• New investment commitments of $3.5 billion, with 92% in first lien senior secured loans
• Strong balance sheet with leverage below 1x net debt to equity
• Portfolio quality remains stable with weighted average grade of 3.1
• Successful issuance of $1 billion in unsecured notes due March 2032

The company maintains significant financial flexibility with $647 million in cash and $5.4 billion available for additional borrowings.

Ares Capital (NASDAQ: ARCC) has announced it will release its first quarter 2025 financial results on Tuesday, April 29, 2025, before the Nasdaq Global Select Market opens. The company will host a webcast/conference call at 12:00 p.m. (Eastern Time) on the same day to discuss the Q1 2025 results.

Participants can join via phone (toll-free +1 (800) 225-9448 for domestic callers, +1 (203) 518-9708 for international) or through the webcast link on the company's website. Callers should connect 10-15 minutes early and reference conference ID ARCCQ125.

An archived replay will be available until May 29, 2025, at 5:00 p.m. (Eastern Time) via phone (+1 (800) 753-5479 domestic, +1 (402) 220-2675 international) and through the company's website.

Ares Capital (ARCC) has announced its Q4 and full-year 2024 financial results, along with declaring a Q1 2025 dividend of $0.48 per share. Key financial highlights include:

- Q4 2024 GAAP net income of $0.55 per share, compared to $0.72 in Q4 2023
- Full-year 2024 GAAP net income of $2.44 per share, versus $2.75 in 2023
- Net investment income for Q4 2024 was $359 million ($0.55 per share)
- Portfolio investments reached $26.72 billion at fair value by end of 2024

In Q4 2024, ARCC made new investment commitments of $3.8 billion, with 88% in first lien senior secured loans. The company maintained a stable debt/equity ratio of 1.03x and increased its net assets per share to $19.89. ARCC also completed a $544 million term debt securitization and amended several funding facilities to enhance liquidity.

Ares Capital (NASDAQ: ARCC) has announced a significant leadership transition, with Co-President Kort Schnabel appointed as Chief Executive Officer, effective April 30, 2025. Current CEO Kipp deVeer will step down but remain on the Board of Directors and continue serving on the Investment Committee of Ares Capital's investment adviser.

Jim Miller, appointed as Co-President in October 2024, will transition to sole President. Schnabel, who joined Ares Management in 2001, was a founding member of its U.S. Direct Lending strategy in 2004 and currently serves as Partner and Co-Head of the U.S. Direct Lending strategy.

The transition represents a continuation of leadership from within, with Schnabel bringing extensive experience in private credit investing and a long-standing commitment to the company's collaborative culture and relationship-oriented approach.

Ares Capital (NASDAQ: ARCC) has disclosed its tax treatment for 2024 common stock distributions. The company will distribute $1.92 per share throughout 2024, paid in four quarterly installments of $0.48 each on March 29, June 28, September 30, and December 30.

Of the total distributions, 83.66% ($1.606291 per share) is classified as ordinary income, while 16.34% ($0.313709 per share) represents long-term capital gains. The company has designated these distributions as qualified dividend income and eligible for the dividends received deduction for U.S. domestic corporations. Additionally, specific percentages of each dividend payment are designated as interest-related dividends under IRC section 871(k).

Ares Capital (NASDAQ:ARCC) has announced it will release its financial results for the fourth quarter and fiscal year ended December 31, 2024 on Wednesday, February 5, 2025, before the Nasdaq Global Select Market opens. The company will host a webcast/conference call at 12:00 p.m. (Eastern Time) on the same day to discuss the results.

Investors can join via telephone (toll-free +1 (800) 343-4849 for domestic callers, +1 (203) 518-9848 for international) or through the company's website. Participants should dial in 10-15 minutes early and reference conference ID ARCCQ424. An archived replay will be available until March 5, 2025, through both telephone and the company's website.

Ares Capital (ARCC) has priced a $1 billion public offering of unsecured notes with a 5.800% interest rate, maturing on March 8, 2032. The notes can be redeemed at any time at par plus a make-whole premium. The offering, led by multiple joint book-running managers including BofA Securities, J.P. Morgan Securities, and SMBC Nikko Securities, is expected to close on January 8, 2025.

The company plans to use the net proceeds to repay existing debt facilities, with the option to reborrow for general corporate purposes, including portfolio company investments. The offering is subject to customary closing conditions and is being made through a prospectus supplement and accompanying prospectus filed with the SEC.

Ares Capital (NASDAQ: ARCC) announced key leadership changes. Jim Miller was appointed as Co-President alongside Kort Schnabel. The Board of Directors expanded with Mitch Goldstein joining as a new member. Goldstein and Michael L. Smith were appointed as Co-Chairmen of the Board, replacing Michael Arougheti, who remains as Director. Kipp deVeer continues as Director and CEO. Miller, who joined Ares in 2006, serves as Co-Head of U.S. Direct Lending strategy and co-leads the Sports, Media and Entertainment strategy.