Main Street Capital

Main Street Capital is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street's investments are primarily made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides ''one-stop'' financing alternatives to its portfolio companies.

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Main Street Capital achieves record-breaking performance and plans new fund launch

Main Street Capital delivered record-breaking performance in Q4 2022, with strong full-year results and a focus on shareholder returns through dividends. Despite challenges in the investment pipeline and potential credit quality issues, the company remains optimistic about generating new opportunities and maintaining a conservative approach to leverage. Main Street's emphasis on asset management and private loan strategies positions them well for future growth.

Main Street Capital achieves record Q1 results and plans dividend growth

Main Street Capital's Q1 performance reflects financial strength and growth potential, supported by a diversified portfolio and effective financing solutions. While facing challenges from economic uncertainties and rising expenses, the company is well-positioned to capitalize on opportunities for dividend growth, portfolio expansion, and team development.

Main Street Capital achieves record Q2 performance and eyes strategic growth

Main Street Capital delivered strong financial performance in Q2 2023, setting new records in key metrics and demonstrating growth across its investment strategies.
While facing challenges such as increased expenses and potential investment volatility, the company remains focused on shareholder value and strategic growth initiatives.
Opportunities lie in expanding the private loan fund, increasing the lower middle market portfolio share, and leveraging the strong performance of portfolio companies.
Overall, Main Street Capital's Q2 performance and strategic outlook position the company well for continued growth and value creation for shareholders.

Main Street Capital reports strong Q3 performance and growth opportunities

Main Street Capital delivered a strong Q3 performance with a focus on strategic investments and positive operating performance from portfolio companies.
Challenges included lower-than-expected investment activity and specific operating performance issues leading to increased nonaccruals.
Opportunities lie in continued acquisition growth strategies, adjusting marks post-transaction closes, and capitalizing on positive sentiment from portfolio companies.

Main Street Capital achieves record Q4 results and eyes growth

Main Street Capital delivered exceptional Q4 2023 results, marked by record achievements in various financial metrics and strong shareholder value enhancement.
The company's focus on maintaining financial stability, providing liquidity options, and optimizing investment strategies positions it well for growth and resilience.
While challenges like managing leverage and portfolio quality persist, Main Street's opportunities for growth through debt financing, acquisitions, and external manager contributions are promising.

Main Street Capital achieves record returns and plans dividend growth

Main Street Capital delivered strong financial performance in Q1 2024, driven by record returns on equity, NAV per share, and investment income, supported by diversified strategies and asset management.
While facing challenges such as yield compression and cautious market segments, the company remains focused on leveraging opportunities in private loans, deal activities, and fund expansions for sustainable growth.
Maintaining a conservative leverage profile and emphasizing the value of its asset management business, Main Street aims to navigate market dynamics and deliver consistent shareholder value.
With a record high net asset value per share and plans for dividend increases, Main Street Capital demonstrates financial strength, strategic resilience, and a commitment to shareholder returns.

Main Street Capital reports robust Q2 performance and strategic growth plans

Main Street Capital's Q2 2024 performance reflects strong financial metrics and strategic decisions to enhance shareholder value. While facing challenges in nonaccruals and fee adjustments, the company is well-positioned to leverage growth opportunities in its investment pipelines. Overall, Main Street's focus on portfolio expansion and prudent financial management bodes well for its future.

Main Street Capital reports strong Q3 performance and dividend growth

Main Street Capital delivered robust financial results in Q3 2024, showcasing strong performance across investments and asset management.
While facing challenges such as increased operating expenses and varying investment pipelines, the company remains well-positioned with a conservative leverage profile and liquidity.
Opportunities lie in recommending future dividends, anticipated strong performance in Q4, and capitalizing on investment opportunities in the lower middle market.

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Earnings Estimates Moving Higher for Main Street Capital (MAIN): Time to Buy?

Main Street Capital (NYSE:MAIN ) Q4 2022 Earnings Conference Call February 24, 2023 10:00 AM ET Company Participants Zach Vaughan - Dennard Lascar-Investor Relations Dwayne Hyzak - Member of the Board & Chief Executive Officer David Magdol - President & Chief Investment Officer Jesse Morris - Executive Vice President, Chief Financial Officer & Chief Operating Officer Nick Meserve - Managing Director & Head-Private Credit Investment Group Conference Call Participants Robert Dodd - Raymond James Bryce Rowe - B. Riley Kenneth Lee - RBC Capital Markets Mark Hughes - Truist Securities Vilas Abraham - UBS Eric Zwick - Hovde Group Operator Greetings, and welcome to the Main Street Capital Corporation Fourth Quarter Earnings Conference Call.

Main Street Capital (MAIN) Q4 2022 Earnings Call Transcript

MAIN delivered a strong Q4 and full year 2022 results on Thursday 2/23 after the bell. MAIN's management team is making all the right moves and delivering value in both the share price and the dividend for shareholders.

Main Street Capital Produced A Strong Q4, But It Could Be Overvalued

Fourth  Quarter 2022 Net Investment Income of $0.98 Per Share Fourth  Quarter 2022 Distributable Net Investment Income (1)  of $1.03 Per Share Net Asset Value of $26.86 Per Share HOUSTON , Feb. 23, 2023 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce its financial results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter 2022 Highlights Net investment income of $75.9 million (or $0.98 per share) Distributable net investment income(1) of $80.0 million (or $1.03 per share) Total investment income of $113.9 million An industry leading position in cost efficiency, with a ratio of total non-interest operating expenses as a percentage of quarterly average total assets ("Operating Expenses to Assets Ratio") of 1.4% on an annualized basis for the quarter Net increase in net assets resulting from operations of $106.3 million, or $1.37 per share Return on equity(3) of 20.8% on an annualized basis for the quarter Net asset value of $26.86 per share at December 31, 2022, representing an increase of $0.92 per share, or 3.5%, compared to $25.94 per share at September 30, 2022 Declared regular monthly dividends totaling $0.675 per share for the first quarter of 2023, or $0.225 per share for each of January, February and March 2023, representing a 4.7% increase from the regular monthly dividends paid for the first quarter of 2022 and a 2.3% increase from the regular monthly dividends paid for the fourth quarter of 2022 Declared and paid a supplemental dividend of $0.10 per share, resulting in total dividends paid in the fourth quarter of 2022 of $0.76 per share Completed $151.6 million in total lower middle market ("LMM") portfolio investments, including investments totaling $85.7 million in three new LMM portfolio companies, which after aggregate repayments of debt principal and return of invested equity capital from several LMM portfolio investments resulted in a net increase of $126.6 million in total LMM portfolio investments Completed $86.4 million in total private loan portfolio investments, which after aggregate repayments and sales of debt investments and return of invested equity capital from several private loan investments resulted in a net decrease of $26.1 million in total private loan portfolio investments Net decrease of $19.4 million in middle market portfolio investments Further diversified our capital structure by establishing a senior secured revolving facility (the "SPV Facility") with total commitments of $255.0 million and maturity date in November 2027 and issuing $100.0 million of 7.84% senior unsecured notes due December 23, 2025 (the "December 2025 Notes") Full Year 2022 Highlights Net investment income of $245.3 million (or $3.29 per share) Distributable net investment income(1) of $257.5 million (or $3.46 per share) Total investment income of $376.9 million An industry leading position in cost efficiency, with an Operating Expenses to Assets Ratio of 1.4% Net increase in net assets resulting from operations of $241.6 million (or $3.24 per share) Return on equity(3) of 12.6% Net asset value of $26.86 per share at December 31, 2022, representing an increase of $1.57 per share, or 6.2%, compared to $25.29 per share at December 31, 2021 Paid regular monthly dividends totaling $2.595 per share, representing a 4.8% increase from prior year Paid supplemental dividends totaling $0.35 per share, an increase from $0.10 per share in 2021, resulting in total dividends paid in 2022 of $2.945 per share and representing a 14.4% increase from prior year Completed $372.8 million in total LMM portfolio investments, including investments totaling $137.2 million in five new LMM portfolio companies, which after aggregate repayments of debt principal and return of invested equity capital from several LMM portfolio investments resulted in a net increase of $263.5 million in total LMM portfolio investments Completed $712.9 million in total private loan portfolio investments, which after aggregate repayments and sales of debt investments and return of invested equity capital from several private loan investments resulted in a net increase of $334.8 million in private loan portfolio investments Net decrease of $44.5 million in middle market portfolio investments Further diversified our capital structure and enhanced our liquidity by (i) amending our revolving credit facility (the "Corporate Facility") to increase the total commitments from $855.0 million to $920.0 million and extend the maturity date to August 2027, (ii) establishing the SPV Facility (together with the Corporate Facility, the "Credit Facilities") and (iii) issuing the December 2025 Notes In commenting on the Company's operating results for the fourth quarter and full year 2022, Dwayne L.

MAIN STREET ANNOUNCES 2022 FOURTH QUARTER AND ANNUAL RESULTS

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Regular Monthly Dividends of $0.225 per Share for each of April, May and June 2023 Supplemental Dividend of $0.175 per Share Payable in March 2023 HOUSTON , Feb. 22, 2023 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that its Board of Directors declared regular monthly cash dividends of $0.225 per share for each of April, May and June 2023.  These monthly dividends, which will be payable pursuant to the table below, total $0.675 per share for the second quarter of 2023 and represent a 4.7% increase from the regular monthly dividends paid in the second quarter of 2022 and are consistent with the regular monthly dividends declared for the first quarter of 2023.

Main Street Announces Second Quarter 2023 Regular Monthly Dividends and Supplemental Dividend Payable in March 2023

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HOUSTON , Feb. 2, 2023 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the closing of the issuance of an additional $50.0 million in aggregate principal amount of investment grade notes (the "Notes"). The Notes are being issued pursuant to a supplement to the Note Purchase Agreement dated December 23, 2022 between Main Street and the purchasers party thereto.

Main Street Announces Issuance of an Additional $50.0 Million of Investment Grade Notes

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Total Commitments Increased to $980 Million HOUSTON , Jan. 18, 2023 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the expansion of total commitments under its revolving credit facility (the "Credit Facility") from $920.0 million to $980.0 million. The $60.0 million net increase in total commitments was the result of the addition of a new lender relationship.

Main Street Announces Increase in Commitments Under its Credit Facility

Announces Federal Tax Treatment of 2022 Dividends Announces Fourth Quarter and Full Year 2022 Earnings Release and Conference Call Schedule HOUSTON , Jan. 17, 2023 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street" or the "Company") is pleased to announce its preliminary operating results for the fourth quarter of 2022, the federal tax treatment of its 2022 dividends and its fourth quarter and full year 2022 earnings release and conference call schedule. In commenting on the Company's operating results for the fourth quarter of 2022, Dwayne L.

Main Street Announces Preliminary Estimate of Fourth Quarter 2022 Operating Results

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