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OFS - OFS Capital Corporation

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Marvan, Sep 26, 2019.

  1. Marvan

    Marvan Active Member

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    OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions.

    It does not invest in operational turnarounds or start-up businesses.

    For direct, it specializes in debt and structured equity investments, recapitalizations and refinancing, management and leveraged buyouts, acquisition financings, shareholder liquidity events, growth capital, independent sponsor transactions, ESOPs, and minority investments in the lower middle market companies.

    It invests in the aerospace and defense, business services, consumer products and services, food and beverage, health care services, specialty chemicals, transportation and logistics, value added distribution, franchising, and industrial and niche manufacturing sectors.

    The firm invests in companies based in United States. It seeks to invest between $5 million and $20 million, revenues between $10 million and $200 million, Annual EBITDA more than $3 million, and Enterprise value between $10 million and $500 million.

    The firm seeks to invest in companies with debt investment values between $5 million and $25 million.

    The fund uses senior secured, unitranche loans, first-lien, second-lien, subordinated/ mezzanine loans, warrants, and preferred equity securities and common equity securities.

    It prefers to take a minority stake in the investments made.

    It also co-invests with its partners for additional capital.
     
  2. Marvan

    Marvan Active Member

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  3. Marvan

    Marvan Active Member

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    OFS Capital Corporation (the “Company”) (OFS) announced today that it has commenced an underwritten offering of unsecured notes (the “Notes”), subject to market and other conditions.

    The Company has submitted an application for the Notes to be listed and trade on The Nasdaq Global Select Market under the trading symbol “OFSSI”. If approved for listing, the Company expects the Notes to begin trading within 30 days from the original issue date.

    The interest rate and other terms of the Notes will be determined at the time of pricing of the offering.

    The Notes are expected to have a private credit rating of BBB+ from Egan-Jones Ratings Company.

    The Company intends to use the net proceeds of the offering to fund investments in debt and equity securities in accordance with its investment objective and for other general corporate purposes.

    The Company also intends to use a portion of the net proceeds from the offering to repay outstanding indebtedness under its revolving credit facility.

    As of October 7, 2019, the Company had $45.8 million of indebtedness outstanding under the credit facility.

    https://finance.yahoo.com/news/ofs-capital-corporation-commences-offering-130000035.html
     
  4. Marvan

    Marvan Active Member

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    OFS Capital (OFS) came out with quarterly earnings of $0.36 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.

    A quarter ago, it was expected that this management investment company would post earnings of $0.35 per share when it actually produced earnings of $0.36, delivering a surprise of 2.86%.

    Over the last four quarters, the company has surpassed consensus EPS estimates three times.

    OFS Capital, which belongs to the Zacks Financial - SBIC & Commercial Industry industry, posted revenues of $13.86 million for the quarter ended September 2019, surpassing the Zacks Consensus Estimate by 5.79%. This compares to year-ago revenues of $10.98 million. The company has topped consensus revenue estimates four times over the last four quarters.

    https://finance.yahoo.com/news/ofs-capital-ofs-q3-earnings-142502341.html
     
  5. Marvan

    Marvan Active Member

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    Analysts Estimate OFS Capital (OFS) to Report a Decline in Earnings: What to Look Out for

    The market expects OFS Capital (OFS) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2019. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

    The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on March 13. On the other hand, if they miss, the stock may move lower.

    While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

    Zacks Consensus Estimate"

    This management investment company is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of -15%.

    Revenues are expected to be $13.60 million, up 8.2% from the year-ago quarter.

    https://finance.yahoo.com/news/analysts-estimate-ofs-capital-ofs-173005392.html
     
  6. Marvan

    Marvan Active Member

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    OFS Capital Corporation Announces Fourth Quarter and Full Year 2019 Financial Results

    Fourth Quarter Net Investment Income of $0.34 per common share
    Paid $1.36 per common share in Distributions in 2019


    OFS Capital Corporation (Nasdaq: OFS) ("OFS Capital," "we," "us," or "our") today announced its financial results for the fiscal quarter and the full year ended December 31, 2019.

    FINANCIAL HIGHLIGHTS">FINANCIAL HIGHLIGHTS
    • Fourth quarter net investment income of $4.6 million, or $0.34 per common share.
    • Full year 2019 net investment income of $19.1 million, or $1.43 per common share - an increase of 4% year-over-year and above the $1.36 regular distribution.
    • Paid $1.36 per share in distributions in 2019.
    • Closed investments in the fourth quarter of approximately $52.5 million.
    • Net asset value ("NAV") per share decreased to $12.46 at December 31, 2019 from $12.74 at September 30, 2019 due to unrealized depreciation of the portfolio.
    • At December 31, 2019, 90% of our loan portfolio consisted of senior secured loans, based on fair value.
    • On March 11, 2020, OFS Capital's Board of Directors declared a distribution of $0.34 per share for the first quarter of 2020, payable on March 31, 2020 to stockholders of record as of March 24, 2020.
    "Our net investment income again covered our distribution," said Bilal Rashid, OFS Capital's Chairman and Chief Executive Officer. "We are pleased to declare our 29th consecutive quarterly distribution of $0.34 per share since our IPO in late 2012.

    "We also remain focused on capital preservation. 90% of our total portfolio consisted of senior secured loans, based on our fair value, while our financing is long term and flexible. Our $2.1 billion platform has been in existence since 1994 and navigated multiple credit cycles. As a result, we believe we are well positioned for the future."

    https://finance.yahoo.com/news/ofs-capital-corporation-announces-fourth-120000733.html
     
  7. Marvan

    Marvan Active Member

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    Increased my position.
     
  8. Marvan

    Marvan Active Member

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    OFS Capital Corporation (NASDAQ:OFS) today announced its financial results for the quarter ended March 31, 2020.

    FINANCIAL HIGHLIGHTS

    • Net investment income of $3.97 million, or $0.30 per share.
    • Net asset value ("NAV") per share decreased to $9.71 at March 31, 2020 from $12.46 at December 31, 2019. The fair value mark on our portfolio declined by approximately 7.2% and one loan was placed on non-accrual during the quarter.
    • At March 31, 2020, 91% and 79% of our loan portfolio and total portfolio, respectively, consisted of senior secured loans, based on fair value.
    • As of March 31, 2020, 93% of our debt matures in 2024 and beyond and 44% of our outstanding debt is unsecured.
    • On May 4, 2020, OFS Capital's Board of Directors declared a distribution of $0.17 per share for the second quarter of 2020, payable on June 30, 2020, to stockholders of record as of June 23, 2020.
    https://uk.finance.yahoo.com/news/ofs-capital-corporation-announces-first-120000154.html
     
    TomB16 likes this.

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