Ares Capital Corporation (ARCC) announced its fourth-quarter earnings, noting a decrease compared to the previous year and falling short of Wall Street's expectations.
The company's net income amounted to $357 million, equivalent to $0.55 per share, down from $413 million or $0.70 per share recorded in the same period last year.
On an adjusted basis, which excludes certain items, Ares Capital reported earnings of $0.55 per share.
Market analysts had anticipated earnings of $0.58 per share on average, typically factoring out any special items in their projections.
Key financial highlights for Ares Capital Corporation under General Accepted Accounting Principles (GAAP) are as follows:
- Total Earnings: $357 million compared to $413 million in the previous year.
- Earnings Per Share (EPS): $0.55, a decline from last year's $0.70.
