Blue Owl Capital Corporation (NYSE:OBDC) Q4 2023 Earnings Conference Call February 22, 2024 10:00 AM ET

Company Participants

Dana Sclafani - Head of Investor Relations

Craig Packer - President, CEO & Director

Jonathan Lamm - CFO & COO

Conference Call Participants

Brian McKenna - JMP Securities

Casey Alexander - Compass Point

Erik Zwick - Hovde Group

Paul Johnson - Keefe, Bruyette and Woods

Kenneth Lee - RBC Capital Markets

Operator

Hello, and welcome to the Blue Owl Capital Corp. Q4 and Fiscal Year 2023 Earnings Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded.

It's now my pleasure to turn the call over to Dana Sclafani, Head of BDC Investor Relations for Blue Owl. Please go ahead, Dana.

Dana Sclafani

Thank you, operator. Good morning, everyone, and welcome to Blue Owl Capital Corporation's Fourth Quarter Earnings Call. Joining me this morning are our Chief Executive Officer, Craig Packer; and our Chief Financial Officer and Chief Operating Officer, Jonathan Lamm, as well as Alexis Maged, our Chief Credit Officer; and Logan Nicholson, Portfolio Manager for OBDC.

I'd like to remind our listeners that remarks made during today's call may contain forward-looking statements, which are not a guarantee of few performance or results and involve a number of risks and uncertainties that are outside the company's control. Actual results may differ materially from those in forward-looking statements as a result of a number of factors, including those described in OBDC's filings with the SEC. The company assumes no obligation to update any forward-looking statements.

Certain information discussed on this call and in our earnings materials, including information related to portfolio companies, was derived from third-party sources and has not been independently verified. The company makes no such representations or warranties with respect to this information. OBDC's earnings release, 10-K and supplemental earnings presentation are available on the Investor Relations section of our website at blueowlcapitalcorporation.com.

With that, I will turn the call over to Craig.

Craig Packer

Thanks, Dana. Good morning, everyone, and thank you all for joining us today. We are very pleased to report another record quarter of earnings with continued excellent credit performance across the portfolio. Net investment income was $0.51 per share, up $0.02 from last quarter. Our NII increased in each quarter of 2023, we generated new record NII for the fourth consecutive quarter. In total, we earned $1.93 of NII in 2023, up $0.52 or 37% year-over-year.