Ares Capital net investment income reaches $359 million

• Ares Capital reported a second-quarter GAAP net income of $171 million alongside a declared $0.48 per share dividend.
• The company's net investment income increased to $359 million, although net unrealized losses widened to $183 million.
• The company stated its extensive liquidity, including a new $1 billion commercial paper program, will support ongoing portfolio investments.

Ares Capital (NASDAQ:ARCC) reported a second-quarter GAAP net income of $171 million and declared a third-quarter dividend of $0.48 per share.

The $171 million net income compares to the $361 million reported during the same quarter last year, reflecting increased net unrealized losses of $183 million.

The company stated net investment income rose to $359 million, equating to $0.50 per share.

Net asset value per share declined to $19.35 from $19.94 at the end of 2025, and the debt-to-equity ratio increased slightly to 1.15x.

Following the announcement, Ares Capital's share price was up at $18.99.

The company closed the quarter with portfolio investments at a fair value of $29.3 billion distributed across 619 portfolio companies.

Ares Capital highlighted its $6 billion of available liquidity, supported by a new $800 million unsecured note issuance and an upsized $5.5 billion senior secured credit facility.