Bain Capital Specialty Finance Q2 2024 Earnings Report

Announced financial results for the second quarter and declared a third quarter dividend of $0.42 per share.

Key Takeaways

Bain Capital Specialty Finance reported solid earnings for Q2 2024, driven by high net investment income and stable credit quality. The company strengthened its capital position by increasing commitments to its revolving credit facility and extending the maturity date.

Net investment income (NII) per share was $0.51, equating to an annualized NII yield on book value of 11.6%.

Net income per share was $0.45, equating to an annualized return on book value of 10.2%.

Net asset value per share as of June 30, 2024 was $17.70, as compared to $17.70 as of March 31, 2024.

Investments on non-accrual declined to 1.2% and 1.0% of the total investment portfolio at amortized cost and fair value, respectively, as of June 30, 2024, as compared to 1.7% and 1.0% of the total investment portfolio at amortized cost and fair value, respectively, as of March 31, 2024.

Total Revenue

$67.1M

Previous year: $75.7M

Net Investment Income per Share

$0.51

Net Investment Income

$33.1M