TSLX Q2 2023 Earnings Report — Sixth Street Specialty Lending, Inc. Revenue & Financial Results | Market Cap Arena

Sixth Street Specialty Lending, Inc.TSLX

Q2 2023 Earnings

Reported August 3, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2023	Q1 2023	Q2 2022	QoQ Change	YoY Change
Revenue	$89M	$85M	$2M	5.6%	3541.2%
Op. Income	$54M	$53M	-$13M	1.2%	522.6%
Gross Margin	73.0%	75.6%	-317.6%	-2.7pp	390.6pp
Net Margin	59.5%	62.6%	-551.8%	-3.1pp	611.3pp
EPS (Diluted)	$0.63	$0.65	$-0.17	-3.1%	470.6%
Free Cash Flow	$43M	$40M	$21M	8.6%	109.8%

Revenue Flow

Item	Amount
REVENUE	$89M
Cost of Revenue	$24M
GROSS PROFIT	$65M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$3M
SG&A Expenses	$3M
Other Expenses	$8M
Operating Expenses	$11M
Cost & Expenses	$35M
OPERATING INCOME	$54M
Interest Income	$103M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$54M
Income Tax Expense	$902.0K
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$53M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$53M
D&A	$0
EBIT	$54M
EBITDA	$54M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$89M
Cost of Revenue	$24M
GROSS PROFIT	$65M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$3M
SG&A Expenses	$3M
Other Expenses	$8M
Operating Expenses	$11M
Cost & Expenses	$35M
OPERATING INCOME	$54M
Interest Income	$103M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$54M
Income Tax Expense	$902.0K
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$53M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$53M
D&A	$0
EBIT	$54M
EBITDA	$54M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$53M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$11M
Change in Working Capital	$849.0K
OPERATING CASH FLOW	$43M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$279M
Sales/Maturities of Investments	$123M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$156M
Net Debt Issuance	$72M
Common Stock Repurchased	$0
Common Dividends Paid	-$44M
Other Financing Activities	-$10M
NET CASH FROM FINANCING	$113M
FREE CASH FLOW	$43M
Net Change in Cash	$118.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$11M
Short-Term Investments	$0
Net Receivables	$23M
Inventory	$0
Other Current Assets	$15M
TOTAL CURRENT ASSETS	$52M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3.1B
Tax Assets	$0
Other Non-Current Assets	$16M
TOTAL NON-CURRENT ASSETS	$3.1B
TOTAL ASSETS	$3.1B
Account Payables	$0
Short-Term Debt	$328M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$362M
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$24M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$1.7B
Common Stock	$879.0K
Additional Paid-In Capital	$1.4B
Retained Earnings	$75M
Treasury Stock	-$10M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$1.6B
Net Debt	$1.6B