NYSE$MAIN

Main Street Capital Corp. · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Achieved record total investment income, net investment income, and distributable net investment income for the second consecutive quarter, capping off a record year.

Main Street Capital Corporation reported strong Q4 2021 results with record total investment income, net investment income, and distributable net investment income. The lower middle market and private loan strategies delivered record quarterly and full year investment activities. The fair value of the total investment portfolio increased to $3.6 billion.

  • Net investment income was $51.2 million (or $0.73 per share).
  • Distributable net investment income was $54.1 million (or $0.77 per share).
  • Total investment income was $82.2 million.
  • Return on equity was 21.7% on an annualized basis.

Headline financials

Total Revenue

$82.2M

Previous: $62.5M+31.5%
EPS (adj)

$0.77

Previous: $0.59+30.5%
Return on Equity

21.7%

No prior period
LMM Portfolio Companies

73

Previous: 70+4.3%
LMM Portfolio Fair Value

$1.72B

Previous: $1.29B+33.5%
Private Loan Portfolio Companies

75

Previous: 63+19.0%
Private Loan Portfolio Fair Value

$1.14B

Previous: $740M+54.2%
Middle Market Portfolio Companies

36

Previous: 42-14.3%
Middle Market Portfolio Fair Value

$395M

Previous: $446M-11.3%
Net Income

$51.2M

Previous: $39.6M+29.2%
Cash & Equivalents

$32.6M

Previous: $31.9M+2.2%
Total Assets

$3.69B

Previous: $2.77B+33.3%
Stock-Based Comp

$2.93M

Previous: $10.8M-73.0%

Revenue & EPS history

Main Street Capital · Revenue · Quarterly

$82.2M

Q4 2021+31.5%vs Q4 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Main Street Capital · $82.2M total across 3 segments · Q4 2021

  • Interest Income
    $53.8M+19.3%
  • Dividend Income
    $21.8M+75.6%
  • Fee Income
    $6.56M+31.5%

Forward guidance

Main Street cautions that statements in this press release which are forward-looking and provide other than historical information, including but not limited to our ability to successfully source and execute on new portfolio investments and delivery of future financial performance and results, are based on current conditions and information available to Main Street as of the date hereof and include statements regarding Main Street's goals, beliefs, strategies and future operating results and cash flows.

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 Q4 2021

Historical avgQ4 2021

+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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