BXSL Revenue Rises, Earnings Fall Short of Expectations

Blackstone Secured (BXSL), a market capitalization-ranked business, reported fiscal 2025 Q4 earnings on Feb 25, 2026. The results showed a revenue increase but a significant decline in earnings, with EPS and net income both falling year-over-year. The company’s performance did not align with its prior guidance, reflecting mixed operational outcomes.

Revenue

Total revenue rose 1.5% to $357.83 million in 2025 Q4, compared to $352.66 million in 2024 Q4.

Earnings/Net Income

Blackstone Secured’s EPS fell 25.5% to $0.55 in 2025 Q4 from $0.73 a year earlier, while net income dropped 22.4% to $126.17 million, down from $162.49 million in 2024 Q4. The earnings decline underscores challenges in maintaining profitability despite stable revenue growth.

Price Action

The stock edged up 1.73% in the latest trading day and gained 0.49% over the past week, but it has declined 5.59% month-to-date.

Post-Earnings Price Action Review

The strategy of buying Blackstone Secured shares on the date of its quarterly earnings report and holding for 30 days yielded a cumulative return of 24.5% over the past three years, averaging 8% annually. This suggests a potentially robust long-term approach, though past performance does not guarantee future results. Investors should conduct due diligence and consider evolving market conditions before acting.

CEO Commentary

Brad Marshall, Trustee, Chairman & Co-CEO, highlighted the company’s resilience in a strong economic environment, noting a 11.8% annualized ROE driven by interest income. He emphasized the portfolio’s growth in high-quality credits and defensive positioning in technology and data sectors.

Additional News

Blackstone Secured Lending Fund announced $550 million in repayments and a $250 million share buyback authorization, signaling confidence in capital allocation. The fund’s portfolio, now spanning 316 companies, delivered 11.8% ROE, with new investments in sectors like vertical software and data infrastructure. Management also addressed risks, stating that even under pessimistic assumptions, underperforming assets would impact equity by less than 1% annually. These moves reinforce the fund’s focus on disciplined credit and portfolio optimization.