FSK posts Q1 GAAP loss of $1.57/sh, NAV falls to $18.83; announces $150M preferred, tender, buyback

FS KKR Capital Corp

2026-Q1 EPS reported -$1.57 vs consensus $0.45 ▼ miss (-451.9%)

Net investment income $0.42/sh, adjusted NII $0.41/sh; GAAP loss per share ($1.57) due to $2.00 net realized/unrealized loss.
Net asset value dropped to $18.83 from $20.89; non-accruals rose to 4.2% fair value from 3.4%.
KKR affiliate to invest $150M in convertible perpetual preferred stock at 5% cash/7% PIK dividend, conversion price $18.83.
KKR to commence $150M tender offer at $11.00/sh; FSK board authorizes $300M share repurchase program expiring June 2027.
KKR waives 50% of subordinated income incentive fee for four quarters starting Q2 2026; Q2 dividend maintained at $0.42/sh.

item 1.01 item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FS KKR Capital Corp reported the quarter ended March 31, 2026 results: EPS ($1.57).

Period: the quarter ended March 31, 2026
EPS: ($1.57)
Result: reported results

Exact text from the filing

Earnings (Loss) per share of ($1.57), compared to Earnings (Loss) per share of ($0.41) for the quarter ended December 31, 2025

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FS KKR Capital Corp entered into Purchase Agreement with KKR Alternative Assets L.P. valued at $150,000,000 (effective 2026-05-10).

Action: entry
Agreement: equity purchase
Counterparty: KKR Alternative Assets L.P.
Value: $150,000,000
Effective: 2026-05-10

Exact text from the filing

On May 10, 2026, FS KKR Capital Corp. (the “Company”) entered into a purchase agreement (the “Purchase Agreement”) with KKR Alternative Assets L.P., a Delaware limited partnership (the “Purchaser”), pursuant to which the Purchaser has agreed to purchase $150,000,000 in newly issued shares of the Company’s cumulative convertible perpetual preferred stock (the “Convertible Preferred Stock”).

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Source: SEC EDGAR

accession 0001104659-26-058250

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