Ares Capital Q3 Core Earnings Beat View - Quick Facts

(RTTNews) - Ares Capital Corp. (ARCC) on Wednesday reported net income for the third quarter of $175 million or $0.41 per share, down from $209 million or $0.49 per share in the year-ago period.

However, core earnings for the quarter were $0.48 per share, compared to $0.45 per share in the prior-year quarter.

Net investment income rose to $212 million or $0.50 per share from $185 million or $0.44 per share in the same period last year.

Total investment income grew to $387 million from $342 million in the year-ago period.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share for the quarter on revenues of $369.73 million. Analysts' estimates typically exclude special items.

The company's board of directors declared a fourth-quarter dividend of $0.40 per share. The dividend is payable on December 30, 2019 to stockholders of record as of December 16, 2019.