OXSQ - Oxford Square Capital Q3 total investment income beats consensus NAV slips

Oxford Square Capital ( NASDAQ: OXSQ ) stock rose 2.3% in Monday premarket trading after the business development company's total investment income rose 15% from the previous quarter, exceeding the average analyst estimate.

Q3 net investment income of $0.11, matching the consensus estimate, increased from $0.09 in the prior quarter and from $0.08 in Q3 2021.

Total investment income of $11.4M, topping the $11.3M consensus, grew from $9.94M in the prior quarter and from $9.80M in the year-ago quarter.

Net asset value per share as of Sept. 30, 2022 was $3.34 declined from $3.67 as of June 30, 2022. Recorded a net decrease in net assets resulting from operations of ~$11.1M — consisting of $5.6M of NII, $56K of net realized gains, and $16.8M of net unrealized depreciation — vs. $43.4M in Q2.

Weighted average yield of the company's debt investments was 10.4% at current cost as of Sept. 30, 2022 vs. 9.0% at June 30.

The weighted effective yield of its CLO equity investments at current cost was 9.0%  at the end of Q3 vs. 9.5% at the end of Q2.

Weighted average cash distribution yield of Oxford Square's ( OXSQ ) cash income producing CLO equity investments at current cost was 16.6% vs. 20.7% as of June 30.

During the quarter, Oxford Square Capital ( OXSQ ) made ~$3.9M of investments and received ~$12.8M from sales and repayments of investments.

Conference call at 9:00 AM ET.

To compare the company's results with prior years or quarters, look at the income statement tab.

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