Main Street Capital Q3 2021 Earnings Report
Key Takeaways
Main Street Capital Corporation reported strong third-quarter results, marked by record net investment income of $0.71 per share and distributable net investment income of $0.76 per share. The company's net asset value per share increased by 3.6% during the quarter, driven by the favorable performance of its portfolio companies. Gross investment fundings in the lower middle market investment strategy reached a new record, positioning the company for continued favorable performance.
Net investment income reached $49.3 million, or $0.71 per share.
Distributable net investment income was $52.2 million, or $0.76 per share.
Total investment income amounted to $76.8 million.
Net asset value stood at $24.27 per share as of September 30, 2021, reflecting a $0.85 increase from the previous quarter.
Main Street Capital
Main Street Capital
Main Street Capital Revenue by Segment
Forward Guidance
Main Street is positioned for continued favorable performance in the fourth quarter and into 2022, with a strong pipeline of investment opportunities.
Positive Outlook
- Strong pipeline of investment opportunities.
- Record gross investment fundings in lower middle market.
- Successful issuance of additional investment grade debt.
- Improved capital structure.
- Increased liquidity to fund future investments.