Ares Capital Reports Q1 2026 Earnings Miss, Declares $0.48 Dividend

Ares Capital reported first-quarter 2026 results on April 28 that came in below analysts’ expectations, but the business development company kept its quarterly dividend unchanged.

The company said core earnings were $0.47 per share, while GAAP net income came in at $92 million, or $0.13 per share. Net investment income was $398 million, or $0.55 per share, and revenue totaled $763 million.

Ares Capital also said its board declared a second-quarter dividend of $0.48 per share. The payout will be payable on June 30 to stockholders of record on June 15.

The quarter included $412 million in net unrealized losses, and net asset value per share fell to $19.59 from $19.94 at the end of 2025. AP and Reuters both reported the earnings miss, while the company’s official release confirmed the results and the dividend announcement.

The earnings release gives investors a mixed picture: weaker-than-expected top-line and earnings numbers, but continued income support through the dividend. The next focus will be whether Ares Capital can stabilize net asset value and reduce the drag from unrealized losses in coming quarters.

For now, the company remains committed to its shareholder payout even as portfolio marks pressured the latest results.