Ares Capital Corporation (ARCC) reported its financial results for the quarter ended June 30, 2025, showcasing a net increase in stockholders' equity resulting from operations of $361 million, compared to $322 million for the same period in 2024. The company's total investment income reached $745 million, slightly lower than the $755 million reported in the prior year's quarter. Net investment income before income taxes was $350 million, a decrease from $399 million in the second quarter of 2024. Basic and diluted net income per common share was $0.52, consistent with the prior year's figure.
The company's total investment income for the six months ended June 30, 2025, amounted to $1.477 billion, marginally higher than the $1.456 billion recorded in the first half of 2024. Net investment income before income taxes for the same period was $722 million, down from $731 million in the previous year. Basic and diluted net income per common share for the six-month period was $0.88, a decrease from $1.28 in 2024. The company's net realized and unrealized gains (losses) on investments, foreign currency, and other transactions resulted in a loss of $105 million for the first half of 2025, compared to a gain of $73 million in the corresponding period of 2024.
As of June 30, 2025, Ares Capital's total assets stood at $29.071 billion, compared to $28.254 billion as of December 31, 2024. Total investments at fair value were $27.886 billion, an increase from $26.720 billion at the end of the previous year. The company's net asset value per share was $19.90, a slight increase from $19.89 as of December 31, 2024. The company's investment portfolio consisted primarily of first lien senior secured loans, which accounted for $16.547 billion of the total fair value.
During the reported quarter, Ares Capital continued to actively manage its investment portfolio, with new investment commitments totaling $2.573 billion. The company also experienced investment exits of $1.963 billion. The company's investment portfolio is diversified across various industries, with the largest allocations in software and services (23.5%) and healthcare equipment and services (12.9%). The company's management indicated that the company was in compliance with all material terms of its debt agreements. The company also declared dividends of $0.48 per share for each quarter in the first half of 2025.
About ARES CAPITAL CORP
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