Ares Capital Corporation (NASDAQ:ARCC) Q4 2018 Earnings Conference Call Transcript
Feb 12, 2019 • 10:00 am ET
Good morning. Welcome to Ares Capital Corporation's Fourth Quarter and Year Ended December 31st, 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, this conference is being recorded on Tuesday, February 12th, 2019.I will now turn the call over to Mr. John Stilmar of Investor Relations.
Thank you, Kate and good morning everyone. Let me start with some important reminders. Comments made during the course of this conference call and webcast, as well as the accompanying documents contain forward-looking statements and are subject to risks and uncertainties. Many of these forward-looking statements can be identified by the use of words such as anticipates, believes, expects, intends, will, should, may and similar such expressions. The Company's actual results could differ materially from those expressed in such forward-looking statements for any reason, including those listed in its SEC filings. Ares Capital Corporation assumes no obligation to update any such forward-looking statements. Please also note that past performance or market information is not a guarantee of future results.
During this conference call, the Company may discuss certain non-GAAP measures, as defined by the SEC Regulation G, such as core earnings per share or core EPS. The Company believes that core EPS provides useful information to investors, regarding the financial performance, because it's one method that Company uses to measure its financial condition and results of operations. A reconciliation of core EPS to the net per share increase or decrease in stockholders' equity resulting from operations, the most directly comparable GAAP financial measure, can be found in the accompanying slide presentation for this call.
In addition, reconciliation of these measures may also be found in our earnings release filed this morning with the SEC on Form 8-K. Certain information discussed in this presentation, including information relating to portfolio companies, was derived from third party sources and has not been independently verified, and accordingly, the Company makes no representation or warranty in respect to this information.
The Company's fourth quarter and year end December 31st, 2018 earnings presentation can be found on the Company's website at www.arescapitalcorp.com, by clicking on the Q4 '18 earnings presentation link on the homepage of the Investor Resources section. Ares Capital Corporation's earnings release and 10-K are also available on the Company's website.
I'll now turn the call over to Kipp deVeer, Ares Capital Corporation's Chief Executive Officer.
Thanks a lot, John. Good morning and thanks everyone for joining us. I'm here with certain members of the management team, including our Co-Presidents, Mitch Goldstein, and Michael Smith; our Chief Financial Officer, Penni Roll; and other members of the Finance, Investment, and Investor Relations teams. Penni and Mitch will walk through our fourth quarter and full year financial results, our investment activity and our portfolio statistic in detail later in the call, but I'd like to start by recapping our 2018 highlights and providing an update on the market. I'll also discuss our outlook for 2019 and the dividends we declared on the back