Main Street Capital's Q3 Earnings Miss, Expenses Increase Y/Y

Zacks11-08

Main Street Capital Corporation’s MAIN third-quarter 2024 adjusted net investment income of $1 per share missed the Zacks Consensus Estimate of $1.02. The reported figure compares favorably to 99 ...

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The reported figure compares favorably to 99 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/main-street-capitals-q3-earnings-154100712.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Main Street Capital's Q3 Earnings Miss, Expenses Increase Y/Y</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMain Street Capital's Q3 Earnings Miss, Expenses Increase Y/Y\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-08 23:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/main-street-capitals-q3-earnings-154100712.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Main Street Capital Corporation’s MAIN third-quarter 2024 adjusted net investment income of $1 per share missed the Zacks Consensus Estimate of $1.02. The reported figure compares favorably to 99 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/main-street-capitals-q3-earnings-154100712.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MAIN","symbol_name":"Main Street Capital","start_time":0,"source_url":"https://finance.yahoo.com/news/main-street-capitals-q3-earnings-154100712.html","article_id":"2482484583","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ShfhwtDyA2WzDBKdAL7M8Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/6f2cab89bf2cbad1966358e04258e202"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482484583","pubTimestamp":1731080460,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"MAIN’s Total Investment Income Improves, Expenses Rise. Total investment income was $136.8 million, up 11% year over year. The rise was largely driven by an increase in interest income, dividend income and fee income. However, the top line missed the Zacks Consensus Estimate of $137.6 million.Total expenses were $49.2 million, up 19.9% year over year. The increase was due to a rise in all the components of expenses.In the third quarter, the company invested a total of $51.6 million in its lower middle market  portfolio. Of this amount, $11.2 million was invested in new portfolio companies. In comparison, the total LMM portfolio investment in the year-ago quarter was $19.6 million.Main Street Capital completed $309.3 million in total private loan portfolio investments, up significantly from $134.6 million in the prior year quarter.Net decrease in the total cost basis of the middle market investment portfolio was $4.3 million, down 60.6% year over year.Main Street Capital Corporation Pri","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MAIN":"Main Street Capital","NLY":"Annaly Capital Management","STWD":"Starwood Property Trust Inc"},"translate_title":"Main Street Capital第三季度盈利未达预期，费用同比增加","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MAIN":1,"NLY":0.9,"STWD":0.9},"content_text":"Main Street Capital Corporation’s MAIN third-quarter 2024 adjusted net investment income of $1 per share missed the Zacks Consensus Estimate of $1.02. The reported figure compares favorably to 99 cents per share reported in the year-ago quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The results were primarily affected by an increase in expenses. Nonetheless, an improvement in the total investment income and the company’s robust portfolio activities supported the results to some extent.Distributable net investment income (GAAP basis) was $93 million, up 7.9% from the prior-year quarter.\nMAIN’s Total Investment Income Improves, Expenses Rise\nTotal investment income was $136.8 million, up 11% year over year. The rise was largely driven by an increase in interest income, dividend income and fee income. However, the top line missed the Zacks Consensus Estimate of $137.6 million.Total expenses were $49.2 million, up 19.9% year over year. The increase was due to a rise in all the components of expenses.\nRobust Portfolio Activities for Main Street Capital\nIn the third quarter, the company invested a total of $51.6 million in its lower middle market (LMM) portfolio. Of this amount, $11.2 million was invested in new portfolio companies. In comparison, the total LMM portfolio investment in the year-ago quarter was $19.6 million.Main Street Capital completed $309.3 million in total private loan portfolio investments, up significantly from $134.6 million in the prior year quarter.Net decrease in the total cost basis of the middle market investment portfolio was $4.3 million, down 60.6% year over year.\nMain Street Capital’s Balance Sheet Position\nAs of Sept. 30, 2024, the company’s cash and cash equivalents totaled $84.4 million, which increased significantly from $30.5 million as of June 30, 2024.The company has an aggregate unused capacity of $1.25 billion under its corporate revolving credit facility, up 36.6% from the prior quarter.As of Sept. 30, 2024, total Assets were $5.1 billion, up 2.8% from the previous quarter.Net asset value was $30.57 per share, up from $29.8 as of June 30, 2024.\nOur Take on MAIN\nThe growth in total investment income is expected to persist in the coming quarters, driven by increased demand for customized financing. Higher investment commitments are anticipated to continue boosting the company’s financial performance. However, an escalated expense base remains a near-term concern.\n\nMain Street Capital Corporation Price, Consensus and EPS Surprise\n\nMain Street Capital Corporation price-consensus-eps-surprise-chart | Main Street Capital Corporation Quote\n\nMain Street Capital currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy)  stocks here.\nPerformance of REITs\nStarwood Property Trust, Inc. STWD reported third-quarter 2024 adjusted distributable earnings of 48 cents per share, which beat the Zacks Consensus Estimate of 46 cents. The reported figure compares unfavorably to 49 cents per share reported in the year-ago quarter.Results benefited from a rise in revenues and a decline in expenses. Also, a strong balance sheet position was another positive. However, STWD recorded a year-over-year decline in book value per share (BVPS).Annaly Capital Management, Inc. NLY reported third-quarter 2024 adjusted earnings available for distribution per average share of 66 cents, which missed the Zacks Consensus Estimate of 67 cents. The reported figure remained unchanged from the year-ago quarter.NLY recorded a year-over-year decline in BVPS. Nonetheless, the company’s average yield on interest-earning assets improved in the reported quarter.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nSTARWOOD PROPERTY TRUST, INC. (STWD) : Free Stock Analysis Report\nMain Street Capital Corporation (MAIN) : Free Stock Analysis Report\nAnnaly Capital Management Inc (NLY) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482484583"}