Q2 2024 FS KKR Capital Corp Earnings Call Transcript
Key Points
- FS KKR Capital Corp (FSK) generated net investment income of $0.77 per share, exceeding public guidance.
- The company ended the quarter with approximately $4.7 billion of available liquidity.
- FS KKR Capital Corp (FSK) declared a total third-quarter distribution of $0.70 per share.
- The investment team originated $2.7 billion of investments in the first half of 2024, with $1.3 billion in the second quarter.
- Nonaccruals represented 4.3% of the portfolio on a cost basis, down from 6.5% in the previous quarter.
- Some investments placed on nonaccrual in prior quarters continue to show stress.
- The market remains competitive, leading to spread compression.
- The fair value of the investment portfolio declined due to unrealized depreciation in certain investments.
- Weighted average yield on accruing debt investments decreased by 10 basis points to 12%.
- The domestic political environment and international geopolitical situation remain complex, contributing to market volatility.
Good morning, ladies and gentlemen. Welcome to the FS KKR Capital Corp's Second Quarter 2024 earnings conference call (operator instructions). Please note that this conference is being recorded. At this time, Anna Kleinhenn, Head of Investor Relations, will proceed with the introduction. Ms. Kleinhenn, you may begin.
Thank you. Good morning and welcome to FS KKR Capital Corp's Second Quarter 2024 earnings conference call. Please note that other KKR Capital Corp may be referred to as FSK, the fund or the company throughout the call. Today's conference call is being recorded and an audio replay of the call will be available for 30 days. Replay information is included in a press release that FSK issued yesterday. And in addition, FSK has posted on its website a presentation containing supplemental financial information with respect to its portfolio and financial performance for the quarter ended June 30th, 2024.
The link to today's webcast, and the presentation is available on the Investor
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