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Mar 31, 2024
Bain Capital Specialty Finance Q1 2024 Earnings Report
Announced financial results for the first quarter ended March 31, 2024.
Key Takeaways
Bain Capital Specialty Finance reported a strong start to the year with high net investment income and improving credit quality across its senior secured portfolio. The company's net asset value per share increased, and it saw active new originations. The Board of Directors declared a dividend of $0.42 per share for the second quarter of 2024.
Net investment income (NII) per share was $0.53, equating to an annualized NII yield on book value of 12.0%.
Net income per share was $0.55, equating to an annualized return on book value of 12.5%.
Net asset value per share as of March 31, 2024 was $17.70, as compared to $17.60 as of December 31, 2023.
Investments on non-accrual declined quarter-over-quarter to 1.7% and 1.0% of the total investment portfolio at amortized cost and fair value, respectively, as of March 31, 2024.
Bain Capital Specialty Finance
Bain Capital Specialty Finance
Forward Guidance
This letter may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this letter may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.