NYSE$MAIN

Main Street Capital Corp. · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Main Street Capital reported strong Q3 2022 results with record net investment income per share and distributable net investment income per share.

Main Street Capital Corporation announced its financial results for the third quarter of 2022, featuring a net investment income of $0.83 per share and distributable net investment income of $0.88 per share. The company's success was attributed to contributions from core investment strategies and the performance of lower middle market portfolio companies. Main Street's board approved an increase to regular monthly dividends and another supplemental dividend.

  • Net investment income of $62.4 million (or $0.83 per share).
  • Distributable net investment income of $65.8 million (or $0.88 per share).
  • Total investment income of $98.4 million.
  • Net asset value of $25.94 per share at September 30, 2022.

Headline financials

Total Revenue

$67.5M

Previous: $76.8M-12.1%
EPS (adj)

$0.83

Previous: $0.71+16.9%
Return on Equity

25.9%

Previous: 20.4%+27.2%
LMM Portfolio Companies

75

Previous: 70+7.1%
LMM Portfolio Fair Value

$1.91B

Previous: $1.49B+27.9%
Private Loan Portfolio Companies

87

Previous: 69+26.1%
Private Loan Portfolio Fair Value

$1.48B

Previous: $846M+74.6%
Middle Market Portfolio Companies

33

Previous: 38-13.2%
Middle Market Portfolio Fair Value

$354M

Previous: $421M-15.8%
Free Cash Flow

$55.3M

No prior period
Net Income

$55.3M

Previous: $49.3M+12.2%
Operating Income

$63.5M

Previous: $49.3M+28.7%
Gross Profit

$67.5M

No prior period
Cash & Equivalents

$61.2M

Previous: $59.6M+2.7%
Total Assets

$4.13B

No prior period
Stock-Based Comp

$3.62M

Previous: $7.96M-54.6%

Revenue & EPS history

Main Street Capital · Revenue · Quarterly

$67.5M

Q3 2022-12.1%vs Q3 2021
Beat estimate in 2 of 14 quarters(14%)
ActualEstimate

Revenue by segment

Main Street Capital · $98.4M total across 3 segments · Q3 2022

  • Interest Income
    $75M+48.7%
  • Dividend Income
    $19.4M-15.6%
  • Fee Income
    $3.94M+19.4%

Forward guidance

Main Street's board approved an increase to the regular monthly dividends to $0.225 per share, or $0.675 per share for the first quarter of 2023, representing the second consecutive quarter with a monthly dividend increase, and another supplemental dividend of $0.10 per share to be paid in December, representing the firm's fifth consecutive quarterly supplemental dividend.

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 Q3 2022

Historical avgQ3 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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