ARES CAPITAL ($ARCC) Releases Q3 2026 Earnings

Ares Capital (ARCC) reported Q3 2026 earnings missing estimates with core EPS at $0.46 vs. $0.48 expected. Revenue was $763M, down 1.7% YoY. Portfolio value was $29.2B, with credit stress noted. Shares rose 0.4% premarket. Dividend held at $0.48/share. Net asset value per share declined 3.5% YoY to $19.31.

Ares Capital agreed to buy MidCap Financial Investment Corp. from Apollo Global for $2.6B. MFIC shareholders will receive $10.88 per share, a mix of cash and Ares stock. MFIC shares rose 18%, while Ares dipped 2.6% in early trading. The deal comes as private credit managers seek to offload weaker funds.

Ares Capital (ARCC) will acquire MidCap Financial (MFIC) in a $2.6B stock-and-cash deal, offering $10.88 per MFIC share, a 30.1% premium. The acquisition, expected to close in 2027, will expand ARCC's portfolio to over $31B and add 200+ investment positions. ARCC anticipates modest earnings accretion and enhanced lending relationships.

Ares Capital (ARCC) reported Q3 2026 earnings of $0.46 per share, below the $0.48 estimate. Investment income fell 2.4% YoY to $763M, missing expectations. Shares dropped 1.95% premarket. Non-accrual loans rose to 2.4% of investments. The company declared a $0.48 Q4 dividend.

Ares Capital (ARCC) will acquire MidCap Financial (MFIC) for $2.6B, including debt, in a cash-and-stock deal. ARCC will pay $10.88 per share, a 30.1% premium. The deal is expected to diversify ARCC's portfolio and support its 10.32% dividend yield. MFIC's dividend was cut earlier this year, adding some risk to the deal.

Ares Capital (ARCC) agreed to acquire MidCap Financial (MFIC) in a $2.6B deal. MFIC shareholders will receive $10.88 per share, a 30.1% premium. MFIC shares surged 23% premarket. The deal is expected to close in early 2027 and expand ARCC's portfolio.