ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC. REPORTS SECOND QUARTER EARNINGS

Rhea-AI Summary

AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported second quarter 2026 results for the period ended April 30, 2026.

Total net assets were $345.3 million versus $347.5 million on January 31, 2026 and $337.9 million a year earlier, with NAV per share at $12.01.

Net investment income was $4.31 million, or $0.15 per share. The fund recorded a total net realized and unrealized loss of $2.18 million, or $0.08 per share, for the quarter.

Positive

• Total net assets $345.3M vs $337.9M on April 30, 2025
• NAV per share $12.01 vs $11.76 on April 30, 2025
• Net investment income $4.31M vs $3.36M in prior-year quarter
• Net investment income per share $0.15 vs $0.12 year-over-year
• Total net realized/unrealized loss $2.18M vs $19.05M year-over-year

Negative

• Total net assets $345.3M vs $347.5M at January 31, 2026
• NAV per share $12.01 vs $12.09 at January 31, 2026
• Net investment income $4.31M vs $4.78M in first quarter 2026
• Net investment income per share $0.15 vs $0.17 in first quarter 2026
• Total net realized/unrealized loss $2.18M, or $0.08 per share, in Q2 2026

News Market Reaction – AFB

+0.17%

+0.17% Session close to close

In the Jun 29 session, AFB gained 0.17%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details AFB’s Q2 results, including $4.31M net investment income and a $2.18M real...

Analysis

This announcement details AFB’s Q2 results, including $4.31M net investment income and a $2.18M realized/unrealized loss. Compared with prior earnings, the pattern of income plus mark-to-market swings continues; ongoing NAV trends and credit conditions remain key watch points.

Key Figures

Total net assets: $345,321,589 NAV per share: $12.01 Shares outstanding: 28,744,936 +4 more

7 metrics

Total net assets $345,321,589 As of April 30, 2026

NAV per share $12.01 As of April 30, 2026

Shares outstanding 28,744,936 Common stock, April 30, 2026

Net investment income $4,314,451 Feb 1–Apr 30, 2026

NII per share $0.15 Feb 1–Apr 30, 2026

Realized/unrealized loss $2,181,270 Feb 1–Apr 30, 2026

Loss per share $0.08 Feb 1–Apr 30, 2026

Previous Earnings Reports

5 past events · Latest: Mar 27 (Neutral)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 27	Quarterly earnings	Neutral	+0.1%	Reported Q1 2026 NAV, net assets, income and realized/unrealized loss.
Dec 26	Quarterly earnings	Neutral	+0.0%	Reported Q4 2025 results with NAV, net assets and strong realized/unrealized gain.
Sep 26	Quarterly earnings	Neutral	+0.1%	Reported Q3 2025 earnings with lower NAV and sizeable realized/unrealized loss.
Jun 27	Quarterly earnings	Neutral	+1.1%	Reported Q2 2025 results with declining NAV and large realized/unrealized loss.
Mar 28	Quarterly earnings	Neutral	+0.4%	Reported Q1 2025 earnings with lower net assets and realized/unrealized loss.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Earnings releases for AFB have historically produced small, generally positive or flat next-day price moves.

Key Terms

net asset value, total net investment income, realized and unrealized loss, closed‑end investment company

4 terms

net asset value financial

"the net asset value per share of common stock was $12.01"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

View in glossary

total net investment income financial

"For the period February 1, 2026 through April 30, 2026, total net investment income was $4,314,451"

Total net investment income is the money a company or fund actually earns from its investments after paying the costs tied to producing that income, such as interest paid, management fees, and other related expenses. Investors care because it shows the true cash return generated by investment activities—like a farm’s harvest left after paying seeds and labor—and helps assess dividend sustainability, yield and overall profitability.

realized and unrealized loss financial

"The total net realized and unrealized loss was $2,181,270 or $0.08 per share"

A realized loss is the actual loss you lock in when you sell an investment for less than you paid; it reduces your cash or taxable profit. An unrealized loss is the paper decline in value of an investment you still own, like a car that’s worth less today but you haven’t sold; it affects the reported value of your holdings and can become a realized loss if you sell. Investors watch both because realized losses impact cash flow and taxes, while unrealized losses signal potential future choices about holding or selling.

closed‑end investment company financial

"AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB), a registered closed‑end investment company"

A closed-end investment company is a pooled fund that issues a fixed number of shares and then trades those shares on a stock exchange like a regular stock, rather than constantly creating or redeeming shares. It matters to investors because the market price can drift above or below the fund’s underlying asset value—like a storefront selling tickets for a movie at a price that may differ from the theater’s actual seats—affecting potential returns, income, and liquidity.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, June 26, 2026 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB), a registered closed‑end investment company, today announced earnings for the Fund's second fiscal quarter ended April 30, 2026.

Total net assets of the Fund* on April 30, 2026 were $345,321,589 as compared with $347,515,671 on January 31, 2026 and $337,926,439 on April 30, 2025. On April 30, 2026 , the net asset value per share of common stock was $12.01 based on 28,744,936 shares of common stock outstanding.

	April 30, 2026	January 31, 2026	April 30, 2025
Total Net Assets	$345,321,589	$347,515,671	$337,926,439
NAV Per Share	$12.01	$12.09	$ 11.76
Shares Outstanding	28,744,936	28,744,936	28,744,936

For the period February 1, 2026 through April 30, 2026, total net investment income was $4,314,451 or $0.15 per share of common stock. The total net realized and unrealized loss was $2,181,270 or $0.08 per share of common stock for the same period.

	Second Quarter Ended April 30, 2026	First Quarter Ended January 31, 2026	Second Quarter Ended April 30, 2025
Total Net Investment Income	$ 4,314,451	$4,775,826	$3,360,878
Per Share	$0.15	$0.17	$0.12
Total Net Realized/   Unrealized Loss	(2,181,270)	($3,704,332)	($19,051,276)
Per Share	($0.08)	($0.13)	($0.66)

* Total net assets include assets attributable to both common and preferred shares.

AllianceBernstein National Municipal Income Fund, Inc. is managed by AllianceBernstein L.P.

View original content:https://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-inc-reports-second-quarter-earnings-302812063.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

FAQ

What were AFB’s total net assets as of April 30, 2026?

AFB reported total net assets of $345,321,589 as of April 30, 2026. According to the fund, this compares with $347,515,671 on January 31, 2026 and $337,926,439 on April 30, 2025, reflecting changes in portfolio value and income.

What was AllianceBernstein National Municipal Income Fund’s NAV per share on April 30, 2026?

AFB’s net asset value (NAV) per share was $12.01 on April 30, 2026. According to the fund, this NAV is based on 28,744,936 common shares outstanding and compares with $12.09 on January 31, 2026 and $11.76 a year earlier.

How much net investment income did AFB generate in the second quarter ended April 30, 2026?

AFB generated net investment income of $4,314,451 in the second quarter of 2026. According to the fund, this equals $0.15 per common share for the period February 1 through April 30, 2026, compared with $4,775,826 in the first quarter.

What were AFB’s total net realized and unrealized results for Q2 2026?

AFB recorded a total net realized and unrealized loss of $2,181,270 in Q2 2026. According to the fund, this loss was $0.08 per share, compared with a loss of $3,704,332 in Q1 2026 and $19,051,276 in the prior-year quarter.

How did AFB’s second quarter 2026 results compare with the second quarter of 2025?

AFB’s Q2 2026 net investment income was $4.31M vs. $3.36M a year earlier. According to the fund, net realized and unrealized loss narrowed to $2.18M vs. $19.05M, and NAV per share was $12.01 vs. $11.76 on April 30, 2025.