NYSE$MAIN

Main Street Capital Corp. · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Main Street Capital reported strong first quarter results with net investment income per share and distributable net investment income per share matching quarterly records. The company's performance was driven by strong underlying portfolio companies and successful lower middle market and private loan investments.

Main Street Capital Corporation announced its financial results for the first quarter of 2022, featuring net investment income of $0.73 per share, distributable net investment income of $0.77 per share, and a net asset value of $25.89 per share. The company highlighted a record net asset value per share and the approval of another supplemental dividend.

  • Net investment income was $52.2 million, or $0.73 per share.
  • Distributable net investment income was $55.0 million, or $0.77 per share.
  • Net asset value was $25.89 per share as of March 31, 2022.
  • The company declared monthly dividends totaling $0.645 per share for the second quarter of 2022.

Headline financials

Total Revenue

$79.4M

Previous: $62.8M+26.4%
EPS (adj)

$0.77

Previous: $0.58+32.8%
Return on Equity

14.2%

Previous: 0.0%+109130.8%
LMM Portfolio Companies

75

Previous: 71+5.6%
LMM Portfolio Fair Value

$1.8B

Previous: $1.33B+35.1%
Private Loan Portfolio Companies

79

Previous: 63+25.4%
Private Loan Portfolio Fair Value

$1.26B

Previous: $741M+70.1%
Middle Market Portfolio Companies

36

Previous: 40-10.0%
Middle Market Portfolio Fair Value

$397M

Previous: $418M-5.0%
Net Income

$52.2M

Previous: $39.8M+31.3%
Operating Income

$52.2M

Previous: $39.8M+31.3%
Cash & Equivalents

$18M

Previous: $65M-72.4%
Total Assets

$3.78B

Previous: $2.91B+29.8%
Stock-Based Comp

$2.82M

No prior period

Revenue & EPS history

Main Street Capital · Revenue · Quarterly

$79.4M

Q1 2022+26.4%vs Q1 2021
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Main Street Capital · $79.4M total across 3 segments · Q1 2022

  • Interest Income
    $59.4M+36.7%
  • Dividend Income
    $16.6M-6.1%
  • Fee Income
    $3.33M+103.3%

Forward guidance

Main Street is confident in its ability to deliver superior results for shareholders, driven by its lower middle market strategy, private loan platform, and asset management business.

Historical earnings impact

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

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+0.8%

Avg return

Earnings day

+0.9%

Avg return

5 days after

+0.1%

Avg return

30 days after

66%

42 / 64 earnings

Positive

+8.1%

Q1 2010

Best reaction

-9.4%

Q2 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.4%-10.0%-8.4%
Q4 2025-2.2%+1.4%-11.3%
Q3 2025+2.9%+3.5%+6.3%
Q1 2025-0.2%+0.3%+8.4%
Q4 2024+3.2%-1.5%-3.9%
Q3 2024+0.6%+1.4%+7.3%
Q2 2024-0.7%-1.1%-0.6%
Q1 2024-2.4%-1.6%-3.7%
Q4 2023+1.0%+2.7%+2.5%
Q3 2023+3.5%+2.2%+6.1%
Q2 2023-0.2%-1.7%-4.3%
Q1 2023-0.7%-0.4%-0.7%
Q4 2022+3.0%+6.7%-1.3%
Q3 2022+4.6%+4.7%+2.0%
Q2 2022+1.2%-0.9%-9.7%
Q1 2022-1.5%-5.5%-8.6%
Q4 2021+2.7%+2.0%+0.3%
Q3 2021+4.0%+4.4%+0.4%
Q2 2021+0.8%+2.3%+0.5%
Q1 2021-1.0%-3.6%-2.2%
Q4 2020-0.7%-0.6%+6.3%
Q3 2020+0.0%+8.3%+12.8%
Q2 2020+3.2%+4.8%-4.0%
Q1 2020+4.0%+6.5%+32.5%
Q4 2019-8.0%-5.0%-41.2%
Q3 2019-3.5%-2.3%-1.4%
Q2 2019-0.0%+1.8%+3.7%
Q1 2019+2.2%+2.2%+2.6%
Q4 2018-1.8%-4.1%-4.9%
Q3 2018-0.4%+4.6%+2.5%
Q2 2018+2.1%+2.8%+1.9%
Q1 2018+2.5%+3.1%+2.2%
Q4 2017+0.5%+0.1%+2.3%
Q3 2017+2.2%+3.4%+0.1%
Q2 2017-0.4%+2.1%+0.2%
Q1 2017+0.7%-0.3%-3.7%
Q4 2016+0.2%-1.1%-0.6%
Q3 2016+1.0%+4.1%+10.5%
Q2 2016+1.7%+1.1%+1.8%
Q1 2016+1.0%
Q4 2015+3.3%
Q3 2015-1.3%
Q2 2015-2.4%
Q1 2015+1.1%
Q4 2014+0.1%
Q3 2014+2.2%
Q2 2014+2.9%
Q1 2014-2.6%
Q4 2013-0.7%
Q3 2013+1.0%
Q2 2013+0.9%
Q1 2013+2.6%
Q4 2012+2.9%
Q3 2012+2.4%
Q2 2012+1.7%
Q1 2012+0.7%
Q4 2011+1.5%
Q3 2011+0.9%
Q2 2011-9.4%
Q1 2011+4.3%
Q4 2010+2.3%
Q3 2010+5.1%
Q2 2010+2.1%
Q1 2010+8.1%

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