NYSE$BCSF

Bain Capital Specialty Finance Inc · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Announced first quarter financial results, demonstrating strong investment income and net investment income coverage of dividend, leading to NAV growth.

Bain Capital Specialty Finance reported strong first quarter earnings driven by higher base rates and spreads across its portfolio. The company invested $308.0 million in 52 portfolio companies and had net investment income of $32.2 million, or $0.50 per share. The investment portfolio's fair value was $2,415.4 million, with a weighted average yield of 12.5%.

  • Invested $308.0 million in 52 portfolio companies.
  • Net investment income was $32.2 million, or $0.50 per share.
  • Investment portfolio fair value was $2,415.4 million.
  • Weighted average yield on the investment portfolio at fair value was 12.5%.

Headline financials

Total Revenue

$19.7M

Previous: $46M-57.1%
EPS (adj)

$0.50

Previous: $0.34+47.1%
Free Cash Flow

$29.3M

No prior period
Net Income

$29.3M

Previous: $33.7M-13.1%
Operating Income

-$2.54M

Previous: $21.7M-111.7%
Gross Profit

$19.7M

No prior period
Cash & Equivalents

$23.1M

Previous: $80.8M-71.4%
Total Assets

$2.61B

No prior period

Revenue & EPS history

Bain Capital Specialty Finance · Revenue · Quarterly

$19.7M

Q1 2023-57.1%vs Q1 2022
Beat estimate in 3 of 15 quarters(20%)
ActualEstimate

Forward guidance

The document does not contain any forward guidance.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

+0.7%

Avg return

Earnings day

+1.7%

Avg return

5 days after

+1.3%

Avg return

30 days after

59%

17 / 29 earnings

Positive

+7.3%

Q1 2020

Best reaction

-3.3%

Q4 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.1%-2.3%
Q4 2025+0.8%+0.0%-5.2%
Q3 2025-1.7%-0.2%+4.2%
Q1 2025+0.3%-0.7%+1.4%
Q4 2024+3.2%-4.4%-9.5%
Q3 2024+2.7%+3.9%+3.1%
Q2 2024-1.4%-1.4%+10.2%
Q1 2024-0.4%+0.4%+1.2%
Q4 2023+0.4%+1.4%+1.2%
Q3 2023-2.3%-2.3%-4.0%
Q2 2023+2.5%+2.7%+6.2%
Q1 2023+4.5%+7.1%+14.6%
Q4 2022+0.8%+4.2%-9.3%
Q3 2022+2.7%+5.9%+1.5%
Q2 2022-0.6%+0.8%+0.3%
Q1 2022-1.0%-2.9%-6.5%
Q4 2021-3.3%-0.4%+0.3%
Q3 2021+2.0%+2.9%+0.5%
Q2 2021-0.1%+1.1%+0.0%
Q1 2021+0.1%+0.6%+0.5%
Q4 2020+0.1%+4.7%+9.4%
Q3 2020+4.5%+12.4%+31.6%
Q2 2020+3.8%+6.1%+3.6%
Q1 2020+7.3%+16.3%+27.4%
Q4 2019-0.4%+0.1%-42.5%
Q3 2019+0.6%+0.5%+3.4%
Q2 2019+0.7%+0.0%+3.4%
Q1 2019-0.1%-3.7%-6.0%
Q4 2018-3.2%-4.7%-4.2%
Q4 2017

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