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Dec 31, 2020
NMFC Q4 2020 Earnings Report
Reported fourth quarter net investment income and book value recovery.
Key Takeaways
New Mountain Finance Corporation reported a strong Q4 with positive credit migration and book value recovery, leading to a NAV per share of $12.62. The company's portfolio continued to perform well, and the board declared a first quarter distribution of $0.30 per share.
Portfolio continued to perform well through Q4 with $217 million of positive credit migration.
Book value recovery improved a further $0.38 to $12.62 per share.
First quarter distribution of $0.30 per share declared, payable on March 31, 2021.
Company's investment strategy focuses on middle market defensive growth companies.
Forward Guidance
Company anticipates further book value recovery in 2021 as COVID headwinds abate.
Positive Outlook
- Expected further book value recovery in 2021.
- COVID headwinds are expected to abate.
- Focus on defensive growth industries.
- Strength of the team.
- Continued stable credit performance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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