Oxford Square Capital Corp. (NASDAQ:OXSQ) Q1 2024 Earnings Call Transcript May 2, 2024

Oxford Square Capital Corp. misses on earnings expectations. Reported EPS is $-0.16 EPS, expectations were $0.15. OXSQ isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Good day, everyone, and welcome to today's Oxford Square Capital Corp.'s First Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note that this call is being recorded, and I will be standing by should you need any assistance. It is now my pleasure to turn the conference over to Jonathan Cohen. Please go ahead.

Jonathan Cohen: Good morning, everyone, and welcome to the Oxford Square Capital Corp. First Quarter 2024 Earnings Conference Call. I'm joined today by Saul Rosenthal, our President; Bruce Rubin, our Chief Financial Officer; and Kevin Yonon, Managing Director and Portfolio Manager. Bruce, could you open the call with a disclosure regarding forward-looking statements.

Bruce Rubin: Sure, Jonathan. Today's conference call is being recorded. An audio replay of the conference call will be available for 30 days. Replay information is included in our press release that was issued this morning. Please note that this call is the property of Oxford Square Capital Corp. Any unauthorized rebroadcast of this call in any form is strictly prohibited. At this point, please direct your attention to the customary disclosure in this morning's press release regarding forward-looking information. Today's conference call includes forward-looking statements and projections that reflect the company's current views with respect to, among other things, future events and financial performance. We ask that you refer to our most recent filings with the SEC for important factors that could cause actual results to differ materially from those indicated in these projections.

We do not undertake to update our forward-looking statements unless required to do so by law. To obtain copies of our latest SEC filings, please visit our website at www.oxfordsquarecapital.com. With that, I'll turn the presentation back to Jonathan.

Jonathan Cohen: Thank you, Bruce. For the quarter ended March 31, Oxford Square's net investment income was approximately $6.5 million or $0.11 per share compared with $7.8 million or $0.13 per share in the prior quarter. Our net asset value per share stood at $2.42 compared to a net asset value per share of $2.55 for the prior quarter. During the quarter, we distributed [indiscernible] per share. For the first quarter, we recorded total investment income of approximately $10.7 million as compared to approximately $12.2 million in the prior quarter. In the first quarter, we recorded net unrealized depreciation on investments of approximately $210,000 compared to net unrealized depreciation on investments of approximately $14.8 million in the prior quarter.

See also

25 Richest Billionaires in Real Estate Industry and

20 States with the Highest Student Loan Debt.

To continue reading the Q&A session, please click here.