MidCap Financial Q1 2022 Earnings Report
Key Takeaways
Apollo Investment Corporation reported net investment income of $0.39 per share for the quarter ended June 30, 2021, consistent with the previous quarter. The net asset value was $16.02 per share as of June 30, 2021, compared to $15.88 as of March 31, 2021.
Net investment income per share for the quarter was $0.39, consistent with the previous quarter.
Net asset value per share as of the end of the quarter was $16.02, an increase of 0.9% driven primarily by net appreciation on the corporate lending portfolio.
New investment commitments made during the quarter totaled $332 million.
The Board of Directors declared a distribution of $0.31 per share and a supplemental distribution of $0.05 per share for the quarter ending June 30, 2021.
MidCap Financial
MidCap Financial
Forward Guidance
The press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, including, but not limited to, statements as to our future operating results; our business prospects and the prospects of our portfolio companies; the impact of investments that we expect to make; our contractual arrangements and relationships with third parties; the dependence of our future success on the general economy and its impact on the industries in which we invest; the ability of our portfolio companies to achieve their objectives; our expected financings and investments; the adequacy of our cash resources and working capital; and the timing of cash flows, if any, from the operations of our portfolio companies.
Positive Outlook
- Statements regarding the return on equity.
- Statements regarding the yield on investments.
- Statements regarding the ability to borrow to finance assets.
- Statements regarding new strategic initiatives.
- Statements regarding the ability to reposition the investment portfolio.
Challenges Ahead
- Macro- and micro-economic impact of the COVID-19 pandemic.
- The severity and duration of the COVID-19 pandemic.
- Actions taken by governmental authorities to contain the COVID-19 pandemic or treat its impact.
- The impact of the COVID-19 pandemic on our financial condition, results of operations, liquidity and capital resources.
- Risks associated with changes in business conditions and the general economy.