Main Street reports Q1 NII $1.05, consensus $1.03

Reports NAV per share $29.54 at March 31, 2024, an increase of 34c per share, or 1.2%, vs. $29.20 at December 31, 2023. CEO Dwayne Hyzak stated, “We are extremely pleased with our performance in Q1, which resulted in continued strong operating results highlighted by a return on equity of 17.2%, net investment income per share and distributable net investment income per share that significantly exceeded the dividends paid to our shareholders and a new record for net asset value per share for the seventh consecutive quarter. These results demonstrate the continued and sustainable strength of our overall platform, the benefits of our differentiated and diversified investment strategies, the unique contributions of our asset management business and the continued underlying strength and quality of our portfolio companies. We are also pleased that we generated growth in both our lower middle market and private loan investment portfolios in Q1 and ended the quarter with attractive investment pipelines in both investment strategies, which we believe will be helpful as we work to maintain our positive momentum from the last few quarters into the future….we continue to maintain very strong liquidity and a conservative leverage profile, which we believe is important in the current economic environment, and we remain excited about the current opportunities in both our lower middle market and private loan investment strategies.”