Ares Capital Corp. Q1 Profit Decreases, Misses Estimates

(RTTNews) - Ares Capital Corp. (ARCC) released a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $241 million, or $0.36 per share. This compares with $449 million, or $0.76 per share, last year.

Excluding items, Ares Capital Corp. reported adjusted earnings of $0.50 per share for the period.

Analysts on average had expected the company to earn $0.54 per share. Analysts' estimates typically exclude special items.

Ares Capital Corp. earnings at a glance (GAAP) :

-Earnings: $241 Mln. vs. $449 Mln. last year. -EPS: $0.36 vs. $0.76 last year.

For the first quarter, the company posted total investment income of $732 million, higher than $701 million recorded for the same period last year. For the second quarter, the Board will pay a dividend of $0.48 per share on June 30, to stockholders of record as of June 13.