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.

Earnings data Q1 2021

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Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

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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Main Street Capital Corporation (NYSE:MAIN ) Q3 2022 Earnings Conference Call November 4, 2022 10:00 AM ET Company Participants Zach Vaughan - Investor Relations Dwayne Hyzak - Chief Executive Officer David Magdol - President and Chief Investment Officer Jesse Morris - Chief Financial Officer and Chief Operating Officer Nick Meserve - Managing Director and Head, Private Credit Investment Group Conference Call Participants Kenneth Lee - RBC Capital Markets Operator Greetings and welcome to the Main Street Capital Corporation's Third Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

Main Street Capital Corporation (MAIN) Q3 2022 Earnings Call Transcript

Main Street Capital (MAIN) delivered earnings and revenue surprises of 10.67% and 12.21%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Main Street Capital (MAIN) Beats Q3 Earnings and Revenue Estimates

Third  Quarter 2022 Net Investment Income of $0.83 Per Share Third  Quarter 2022 Distributable Net Investment Income (1)  of $0.88 Per Share Net Asset Value of $25.94 Per Share HOUSTON , Nov. 3, 2022 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce its financial results for the third quarter of 2022. Third Quarter 2022 Highlights Net investment income of $62.4 million (or $0.83 per share) Distributable net investment income(1) of $65.8 million (or $0.88 per share) Total investment income of $98.4 million An industry leading position in cost efficiency, with a ratio of total non-interest operating expenses as a percentage of average total assets ("Operating Expenses to Assets Ratio") of 1.5% on an annualized basis for the quarter and 1.4% for the trailing twelve month ("TTM") period ended September 30, 2022 Net asset value of $25.94 per share at September 30, 2022 Declared regular monthly dividends totaling $0.66 per share for the fourth quarter of 2022, or $0.22 per share for each of October, November and December 2022, representing a 4.8% increase from the regular monthly dividends paid for the fourth quarter of 2021 Declared and paid a supplemental dividend of $0.10 per share, resulting in total dividends paid in the third quarter of 2022 of $0.745 per share Completed $111.5 million in total lower middle market ("LMM") portfolio investments, which after aggregate repayments of debt principal and return of invested equity capital from several LMM portfolio investments resulted in a net increase of $84.5 million in total LMM portfolio investments Completed $233.8 million in total private loan portfolio investments, which after aggregate repayments of debt principal and return of invested equity capital from several private loan portfolio investments resulted in a net increase of $174.3 million in total private loan portfolio investments Amended our revolving credit facility ("Credit Facility") in August 2022 to increase the total commitments from $855.0 million to $920.0 million and extend the maturity date to August 2027 Received an investment grade credit and corporate rating of BBB- with a stable outlook from Fitch Ratings in July 2022, which is in addition to the rating of BBB- with a stable outlook that we maintain from S&P Global Ratings "We are very pleased with Main Street's strong third quarter results, which include another consecutive quarter with records for net investment income per share and distributable net investment income per share," stated Dwayne L.

MAIN STREET ANNOUNCES THIRD QUARTER 2022 RESULTS

Regular Monthly Dividends of $0.225 per Share for each of January, February and March 2023 Monthly Dividends Represent a 2.3% Increase Compared to Fourth Quarter 2022 and a 4.7% Increase Compared to First Quarter 2022 Supplemental Dividend of $0.10 per Share Payable in December 2022 HOUSTON , Nov. 2, 2022 /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 January, February and March 2023.  These monthly dividends, which will be payable pursuant to the table below, total $0.675 per share for the first quarter of 2023 and represent a 2.3% increase from the regular monthly dividends declared for the fourth quarter of 2022 and a 4.7% increase from the regular monthly dividends paid in the first quarter of 2022.

Main Street Announces First Quarter 2023 Regular Monthly Dividends, Including a Monthly Dividend Increase, and Supplemental Dividend Payable in December 2022

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Main Street Capital is the gold standard of BDCs, a SWAN quality company that is one of the only BDCs to never cut its dividend since 2007. MAIN is one of the few investment-grade BDCs, internally managed, and run by its co-founders, battle-tested executives who know how to underwrite profitable and safe loans.

Main Street Capital Is A 7.5% Monthly Yield Retirement Dream Stock

HOUSTON , Oct. 25, 2022 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) (" Main Street ") is pleased to announce that it recently completed a new portfolio investment to facilitate the recapitalization of Elgin Industries, Inc. (" Elgin " or the " Company "), a fully integrated supplier of engine and chassis components to original equipment manufacturers and the aftermarket. Main Street, along with its co-investors, partnered with the Company's existing owners and management team to facilitate the transaction, with Main Street funding $34.3 million in a combination of first lien, senior secured term debt and a direct equity investment.

Main Street Announces New Portfolio Investment Invests $34.3 Million in Elgin Industries, Inc.

After last month's market correction, Main Street is selling at a much lower premium multiple. Excess net investment income and low payout ratio are Main Street's biggest strengths.

Main Street: 34% Premium To NAV, Growing BV, 7.6% Yield

HOUSTON , Oct. 18, 2022 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street" or the "Company") is pleased to announce its preliminary operating results for the third quarter of 2022. Preliminary Estimates of Third Quarter 2022 Results In commenting on the Company's operating results for the third quarter of 2022, Dwayne L.

Main Street Announces Preliminary Estimate of Third Quarter 2022 Operating Results

HOUSTON , Oct. 14, 2022 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the following recent activity in its private loan portfolio. During the third quarter of 2022, Main Street originated approximately $269.9 million in new commitments in its private loan portfolio across eight new borrowers and funded total investments across its private loan portfolio with a cost basis totaling approximately $233.8 million.

Main Street Announces Third Quarter 2022 Private Loan Portfolio Activity

Call Scheduled for 10:00 a.m. Eastern Time on Friday, November 4, 2022 HOUSTON , Oct. 12, 2022 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it will release its third quarter 2022 results on Thursday, November 3, 2022, after the financial markets close.

MAIN STREET ANNOUNCES THIRD QUARTER 2022 EARNINGS RELEASE AND CONFERENCE CALL SCHEDULE

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Both Main Street Capital and Oaktree Specialty Lending are high-yielding investment grade BDCs. MAIN has a tremendous track record, whereas OCSL pays out a much higher dividend yield.

Passive Income: Main Street's 6.50% Yield Or Oaktree Specialty Lending's 11.31%

Main Street is a leading business development company focusing on lower middle market companies. As a result, we deduce that the market de-rated MAIN in anticipation of further headwinds. We assessed that the consensus estimates have likely accounted for a mild recession but not a severe one.

Main Street: Why Investors Should Buy This Dip Despite Recession Fears

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Both Main Street Capital and SLR Investment boast investment grade credit ratings. MAIN has a tremendous track record whereas SLRC pays out a much higher dividend yield.

Better Buy: Main Street's 6.9% Yield Or SLR Investment's 12.7%

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Main Street Capital does a good job of increasing its NAV, and NII generated from its assets, so I am not concerned about the recent stock offering. As an income investment, MAIN is still generating an attractive dividend yield that exceeds 6.1%.

Main Street Capital: Revisiting This 6.1% Yielding BDC As It Prices A 1.17M Stock Offering

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Better Buy: Main Street's 6.50% Yield Or Blackstone Secured Lending's 9.73%

Main Street's net investment income is growing rapidly and the BDC remains well-managed. The monthly dividend is covered by distributable net investment income.

Main Street: Get Paid A 6.1% Yield On An 11.2% Yielding LMM Portfolio

Underwriters Fully Exercise Option to Purchase Additional Shares HOUSTON , Aug. 15, 2022 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it closed the previously announced underwritten offering of 1,170,000 shares of its common stock at a public offering price of $42.85 per share. In addition, the underwriters fully exercised their option to purchase 175,500 additional shares.

Main Street Closes Public Offering of Common Stock

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HOUSTON , Aug. 11, 2022 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it has priced a public underwritten offering of 1,170,000 shares of its common stock.  Pricing was set at $42.85 per share, and net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by Main Street, are expected to be approximately $47.9 million.

Main Street Prices Public Offering of Common Stock

HOUSTON , Aug. 10, 2022 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it plans to make a public offering of $50,000,000 of shares of its common stock. In connection with the proposed offering, Main Street intends to grant the underwriters an option to purchase additional shares of its common stock.

Main Street Announces Public Offering of Common Stock

Main Street Capital Corp. MAIN, +2.03% shares fell 0.6% in premarket trades Monday after Raymond James analyst Robert Dodd downgraded the stock to market perform from outperform, based on valuation. "With the shares currently trading at the upper end of the historic trading range, we see limited upside to net asset value per share in the near-term with what appear to be economic headwinds which should potentially moderate equity appreciation and dividend income," Dodd said in a research note.

Main Street Capital downgraded to market perform by Raymond James

News for Main Street Capital Stock (MAIN)