AI Earnings Predictions for Ares Capital Corporation (ARCC)

EX-99.1

2 arccq3-2026exhibit991.htm

EX-99.1

Document

Exhibit 99.1

ARES CAPITAL CORPORATION ANNOUNCES SEPTEMBER 30, 2026 FINANCIAL RESULTS

AND DECLARES FOURTH QUARTER 2026 DIVIDEND OF $0.48 PER SHARE

DIVIDEND DECLARATIONS

New York, NY — October 27, 2026 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a fourth quarter 2026 dividend of $0.48 per share. The fourth quarter 2026 dividend is payable on December 29, 2026 to stockholders of record as of December 15, 2026.

SEPTEMBER 30, 2026 FINANCIAL RESULTS

Ares Capital also announced financial results for its third quarter ended September 30, 2026.

OPERATING RESULTS

Q3-26(3)

Q3-25(3)

(dollar amounts in millions, except per share data)Total AmountPer ShareTotal AmountPer Share

GAAP net income per share(1)$0.44 $0.57

Core EPS(2)$0.46 $0.50

Dividends declared and payable$0.48 $0.48

Net investment income(1)$328 $0.46 $338 $0.48

Net realized gains (losses)(1)$(52)$(0.07)$162 $0.23

Net unrealized gains (losses)(1)$43 $0.05 $(96)$(0.14)

GAAP net income(1)$319 $0.44 $404 $0.57

As of

(dollar amounts in millions, except per share data)September 30, 2026December 31, 2025

Portfolio investments at fair value $29,213 $29,485

Total assets$30,596 $31,235

Stockholders’ equity$13,946 $14,318

Net asset value per share$19.31 $19.94

Debt/equity ratio1.11x1.12x

Debt/equity ratio, net of available cash(4)1.06x1.08x

(1)All per share amounts and weighted average shares outstanding are basic and diluted. The basic and diluted weighted average shares outstanding for the three months ended September 30, 2026 and 2025 were approximately 720 million and 709 million, respectively.

(2)Core EPS is a non-GAAP financial measure. Core EPS is the net increase (decrease) in stockholders’ equity resulting from operations, and excludes net realized and unrealized gains and losses, any capital gains incentive fee attributable to such net realized and unrealized gains and losses and any income taxes (including excise taxes) related to such net realized gains and losses, divided by the basic weighted average shares outstanding for the relevant period. GAAP net income (loss) per share is the most directly comparable GAAP financial measure. Ares Capital believes that Core EPS provides useful information to investors regarding financial performance because it is one method Ares Capital uses to measure its financial condition and results of operations. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. Reconciliations of GAAP net income, the most directly comparable GAAP financial measure, to Core EPS are set forth in Schedule 1 hereto.

(3)Net income can vary substantially from period to period due to various factors, including the level of new investment commitments, the recognition of realized gains and losses and unrealized appreciation and depreciation. As a result, quarterly comparisons of net income may not be meaningful.

1

(4)Computed as total principal debt outstanding less available cash divided by stockholders’ equity. Available cash excludes restricted cash as well as cash held for uses specifically designated for paying interest and expenses on certain debt.

“We reported solid third quarter results supported by continued healthy portfolio performance, including stable credit quality and historically low levels of non-accruing loans and problem assets,” said Kort Schnabel, Chief Executive Officer of Ares Capital. “While a slower transaction environment led to a more measured pace of originations during the quarter, our investment backlog is up meaningfully from last quarter, and we are seeing stronger transaction activity entering the fourth quarter. We believe our market leadership, scale, diversified portfolio and strong financial position, along with the expected benefit from higher yields and our recently announced acquisition of MidCap Financial Investment Corporation, reinforce our strong underlying earnings power and our confidence in the current level of our regular quarterly dividend.”

“During the third quarter, we further strengthened our funding profile while maintaining significant financial flexibility,” said Scott Lem, Chief Financial Officer of Ares Capital. “We increased our debt capacity through a $750 million issuance of seven-year unsecured notes, while also reducing our funding costs through the reset of our debt securitization and modest utilization of our commercial paper program. With approximately $7 billion of available liquidity, prudent leverage and limited near-term maturities, our balance sheet remains well positioned to support our investment activity and future growth.”

PORTFOLIO AND INVESTMENT ACTIVITY

(dollar amounts in millions)Q3-26Q3-25

Portfolio Activity During the Period:

Gross commitments$2,109 $3,924

Exi

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