Blackstone Secured Lending Fund Reports Second Quarter Earnings Results for FY2023
August 11, 2023
☀️Earnings Overview
On August 9, 2023, BLACKSTONE SECURED LENDING FUND ($NYSE:BXSL) announced its second quarter earnings results for the period ending June 30, 2023. Total revenue for the quarter was USD 145.5 million, showing a year-over-year increase of 94.5%, while net income reached USD 144.8 million, a rise of 82.0% from the same quarter the year before.
Market Price
According to the report, the fund saw increases in net income and earnings per share, showing growth in their financial performance from the same period last year. This is extremely encouraging as it shows that investors have continued to trust the fund and are still investing in its strategies. BLACKSTONE SECURED LENDING FUND is continuing to take steps to strengthen their portfolio and they are confident that this growth will continue to be seen in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BXSL. More…
| Total Revenues | Net Income | Net Margin |
| 491.36 | 501.37 | 102.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BXSL. More…
| Operations | Investing | Financing |
| 1.33k | – | -1.37k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for BXSL. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.57k | 5.22k | 26.3 |
Key Ratios Snapshot
Some of the financial key ratios for BXSL are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.0% | – | – |
| FCF Margin | ROE | ROA |
| 271.3% | 7.4% | 3.3% |
Analysis
At GoodWhale, we’ve analyzed the financials of BLACKSTONE SECURED LENDING FUND. Our Star Chart has classified the company as ‘cheetah’, a type of company that has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Accordingly, this fund is likely to attract investors who are looking for high growth potential, but who are also aware of the potential risks associated with investing in such a company. While the fund has shown strong growth potential, our analysis shows that it has a low health score of 2/10 when considering its cashflows and debt, indicating that it is less likely to sustain future operations in times of crisis. Moreover, our analytics show that BLACKSTONE SECURED LENDING FUND is strong in terms of growth, but only medium in terms of assets, dividend, and profitability. In conclusion, BLACKSTONE SECURED LENDING FUND is likely to attract investors who are looking for high growth potential, but should be aware of the associated risks. More…
Peers
The competition between Blackstone Secured Lending Fund and its competitors, Princeton Capital Corp, OFS Capital Corp, and Franklin BSP Lending Corp, is intense as each strives to provide the best lending services to their clients. All four companies have a long history in the lending industry, and each has its own unique approach to the business. As such, the competition for market share is fierce, with each company looking for an edge over its rivals.
– Princeton Capital Corp ($OTCPK:PIAC)
Princeton Capital Corp is a financial services company that provides investment and asset management services. As of 2022, its market capitalization was 42.17 million, reflecting its financial strength and market presence. Furthermore, its return on equity (ROE) was 12.71%, indicating that the company has been able to use its resources efficiently to generate higher returns. Princeton Capital Corp has been able to consistently generate healthy returns, making it an attractive option for investors.
– OFS Capital Corp ($NASDAQ:OFS)
OFS Capital Corp is a closed-end investment company that specializes in providing customized financing solutions to mid-market companies. The company’s market capitalization as of 2022 is 146.52M, making it a mid-sized entity in the investment sector. Its Return on Equity (ROE) of 2.34% indicates a healthy financial performance, as it is above the industry average. The company provides capital to businesses in need of financing to support their growth plans, and also invests in debt securities of such companies. OFS Capital Corp’s mission is to generate attractive risk-adjusted returns by investing in high quality middle market companies.
– Franklin BSP Lending Corp ($OTCPK:BDVC)
Franklin BSP Lending Corp is a financial services company that specializes in providing consumer loans, mortgages, and other types of banking services. As of 2022, the company has a market cap of 1.29B and a Return on Equity of 4.33%. This market cap is an indication of the company’s value and strength in the market, while the Return on Equity shows how successful the company is at generating profits from its investments. The company has been successful in the past and is looking to continue its growth in the future.
Summary
Investors in BLACKSTONE SECURED LENDING FUND are seeing great results in the second quarter of FY2023. Total revenue for the quarter was USD 145.5 million, a 94.5% increase from the same period the previous year. Net income was also up 82.0% to USD 144.8 million, indicating strong performance for the Fund. This is an exciting opportunity for investors to capitalize on high returns and will likely lead to more investment in this fund in the future.
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