MAIN STREET ANNOUNCES SECOND QUARTER 2026 RESULTS
Rhea-AI Summary
Main Street Capital (NYSE: MAIN) reported second quarter 2026 net investment income (NII) of $90.3 million, or $0.97 per share, and distributable NII of $97.4 million, or $1.04 per share. Distributable NII before taxes was $100.9 million, or $1.08 per share, on total investment income of $149.6 million.
Net increase in net assets from operations was $147.6 million, or $1.58 per share, with an annualized return on equity of 18.9%. Net asset value rose to $33.92 per share, up 1.4% from March 31, 2026. The company declared third quarter 2026 regular monthly dividends totaling $0.795 per share and paid a $0.30 supplemental dividend in the quarter, for total second quarter dividends of $1.08 per share. Main Street completed $99.7 million of lower middle market investments and $238.9 million of private loan investments and realized a $46.4 million gain on the exit of Centre Technologies. Liquidity totaled $1.153 billion, supported by an upsized $1.240 billion Corporate Facility and a $150 million April 2031 notes issuance.
Positive
- Net increase in net assets from operations $147.6 million, +20% YoY
- Return on equity 18.9% annualized for the quarter, up from 17.1%
- NAV per share $33.92, up 1.4% QoQ and 1.8% vs year-end 2025
- Total second quarter 2026 dividends $1.08 per share, +2.9% YoY
- Realized gain on Centre Technologies exit $46.4 million
- Aggregate liquidity $1.153 billion as of June 30, 2026
Negative
- NII per share decreased to $0.97, down $0.02 or 2% YoY
- Distributable NII per share fell to $1.04, down $0.02 or 2% YoY
- Dividend income declined $10.4 million, or 28%, versus Q2 2025
- Total cash expenses rose 9.5% to $48.7 million, including $4.1 million higher interest expense
- Realized loss on a private loan restructure $13.3 million in Q2 2026
AI-generated analysis. How Rhea-AI works. Not financial advice.
Second Quarter 2026 Net Investment Income of
Second Quarter 2026 Distributable Net Investment Income(1) of
Second Quarter 2026 Distributable Net Investment Income Before Taxes(2) of
Net Asset Value of
Second Quarter 2026 Highlights
- Net investment income ("NII") of
, or$90.3 million per share$0.97 - Distributable net investment income ("DNII")(1) of
, or$97.4 million per share$1.04 - DNII before taxes(2) of
, or$100.9 million per share$1.08 - Total investment income of
$149.6 million - An industry leading position in cost efficiency, with a ratio of total non-interest operating expenses as a percentage of quarterly average total assets ("Operating Expenses to Assets Ratio") of
1.3% on both an annualized basis for the quarter and for the trailing twelve-month ("TTM") period ended June 30, 2026 - Net increase in net assets resulting from operations of
, or$147.6 million per share$1.58 - Return on equity(3) of
18.9% on an annualized basis for the quarter and15.0% for the TTM period ended June 30, 2026 - Net asset value of
per share as of June 30, 2026, representing an increase of$33.92 per share, or$0.46 1.4% , compared to per share as of March 31, 2026 and$33.46 per share, or$0.59 1.8% , compared to per share as of December 31, 2025$33.33 - Declared regular monthly dividends totaling
per share for the third quarter of 2026, or$0.795 per share for each of July, August and September 2026, representing a$0.265 3.9% increase from the regular monthly dividends paid in the third quarter of 2025 - Declared and paid a supplemental dividend of
per share, resulting in total dividends paid in the second quarter of 2026 of$0.30 per share and representing a$1.08 2.9% increase from the total dividends paid in the second quarter of 2025 - Completed
in total lower middle market ("LMM") portfolio investments, including investments totaling$99.7 million in two new portfolio companies, which after aggregate repayments and return of invested equity capital resulted in a net decrease of$45.8 million in the total cost basis of the LMM investment portfolio$30.6 million - Completed
in total private loan portfolio investments, which after aggregate repayments, return of invested equity capital and a decrease in cost basis due to a realized loss resulted in a net increase of$238.9 million in the total cost basis of the private loan investment portfolio$60.2 million - Fully exited investments in Centre Technologies Holdings, LLC, realizing a gain of
, which in addition to the total dividends received over the life of the equity investment, resulted in an annual internal rate of return and times money invested return of$46.4 million 40.1% and 8.8 times, respectively, on the equity investment, and23.2% and 2.4 times, respectively, including all debt and equity investments in the company on a cumulative basis since Main Street's initial investment in 2019 - Further enhanced our liquidity position and strengthened our capital structure by (i) amending the Corporate Facility to increase the total commitments by
.0 million to$65 .240 billion and extend the maturity date to June 2031 and (ii) issuing a principal amount of$1 of the April 2031 Notes (with the Corporate Facility and the April 2031 Notes each as defined in the Liquidity and Capital Resources section below)$150.0 million
In commenting on the Company's operating results for the second quarter of 2026, Dwayne L. Hyzak, Main Street's Chief Executive Officer, stated, "We are very pleased with our performance in the second quarter, which resulted in strong quarterly operating results highlighted by an annualized return on equity of
Mr. Hyzak continued, "Our strong second quarter results and continued positive outlook for the future resulted in the declaration of another
Second Quarter 2026 Operating Results
The following table provides a summary of our operating results for the second quarter of 2026:
Three Months Ended June 30, | |||||||
2026 | 2025 | Change | Change (%) | ||||
(dollars in thousands, except per share amounts) | |||||||
Interest income | $ 112,633 | $ 100,857 | $ 11,776 | 12 % | |||
Dividend income | 27,398 | 37,845 | (10,447) | (28) % | |||
Fee income | 9,541 | 5,271 | 4,270 | 81 % | |||
Total investment income | $ 149,572 | $ 143,973 | $ 5,599 | 4 % | |||
Net investment income | $ 90,324 | $ 88,183 | $ 2,141 | 2 % | |||
Net investment income per share | $ 0.97 | $ 0.99 | $ (0.02) | (2) % | |||
Distributable net investment income (1) | $ 97,392 | $ 94,344 | $ 3,048 | 3 % | |||
Distributable net investment income per share (1) | $ 1.04 | $ 1.06 | $ (0.02) | (2) % | |||
Distributable net investment income before taxes (2) | $ 100,865 | $ 99,495 | $ 1,370 | 1 % | |||
Distributable net investment income before taxes per share (2) | $ 1.08 | $ 1.11 | $ (0.03) | (3) % | |||
Net increase in net assets resulting from operations | $ 147,577 | $ 122,534 | $ 25,043 | 20 % | |||
Net increase in net assets resulting from operations per share | $ 1.58 | $ 1.37 | $ 0.21 | 15 % | |||
Return on equity - quarter annualized (3) | 18.9 % | 17.1 % | 1.8 % | 11 % | |||
The
Total cash expenses(4) increased
Non-cash compensation expenses(4) increased
Our Operating Expenses to Assets Ratio (which includes non-cash compensation expenses(4)) on an annualized basis was
Excise tax expense decreased
The
The
The following table provides a summary of the total net unrealized appreciation of
Three Months Ended June 30, 2026 | |||||||||
LMM (a) | Private Loan | Middle Market | Other | Total | |||||
(in millions) | |||||||||
Accounting reversals of net unrealized (appreciation) depreciation recognized in prior periods due to net realized (gains / income) losses recognized during the current period | $ (47.2) | $ 11.0 | $ — | $ 0.5 | $ (35.7) | ||||
Net unrealized appreciation (depreciation) relating to portfolio investments | 54.8 | 20.2 | (0.5) | (6.6) | (b) | 67.9 | |||
Total net unrealized appreciation (depreciation) relating to portfolio investments | $ 7.6 | $ 31.2 | $ (0.5) | $ (6.1) | $ 32.2 | ||||
___________________________ | |
(a) | Includes unrealized appreciation on 38 LMM portfolio investments and unrealized depreciation on 28 LMM portfolio investments. |
(b) | Includes |
Liquidity and Capital Resources
As of June 30, 2026, we had aggregate liquidity of
Several details regarding our capital structure as of June 30, 2026 are as follows:
- The Corporate Facility included
in total commitments from a diversified group of 18 participating lenders, plus an accordion feature that allows us to request an increase in the total commitments under the facility to up to$1.240 billion .$1.860 billion in outstanding borrowings under the Corporate Facility, with an interest rate of$26.0 million 5.5% based on the applicable Secured Overnight Financing Rate ("SOFR") effective for the contractual reset date of July 1, 2026.- The SPV Facility included
in total commitments from a diversified group of six participating lenders, plus an accordion feature that allows us to request an increase in the total commitments under the facility to up to$600.0 million .$800.0 million in outstanding borrowings under the SPV Facility, with an interest rate of$215.0 million 5.6% based on the applicable SOFR effective for the contractual reset date of July 1, 2026. of unsecured notes outstanding that bear interest at a rate of$550.0 million 6.95% per year (the "March 2029 Notes") with a yield-to-maturity of6.68% . The March 2029 Notes mature on March 1, 2029 and may be redeemed in whole or in part at any time at our option subject to certain make-whole provisions. of unsecured notes outstanding that bear interest at a rate of$500.0 million 3.00% per year (the "July 2026 Notes"). The July 2026 Notes mature on July 14, 2026 and may be redeemed in whole or in part at any time at our option subject to certain make-whole provisions. of unsecured notes outstanding that bear interest at a rate of$400.0 million 6.50% per year with a yield-to-maturity of6.34% (the "June 2027 Notes"). The June 2027 Notes mature on June 4, 2027 and may be redeemed in whole or in part at any time at our option subject to certain make-whole provisions. of unsecured notes outstanding that bear interest at a rate of$350.0 million 5.40% per year (the "August 2028 Notes"). The August 2028 Notes mature on August 15, 2028 and may be redeemed in whole or in part at any time at our option subject to certain make-whole provisions. of outstanding Small Business Investment Company ("SBIC") debentures through our wholly-owned SBIC subsidiaries. These debentures, which are guaranteed by the$350.0 million U.S . Small Business Administration (the "SBA"), had a weighted-average annual fixed interest rate of3.26% and mature ten years from original issuance. The first maturity related to our existing SBIC debentures occurs in the first quarter of 2027, and the weighted-average remaining duration was 4.1 years. of unsecured notes outstanding that bear interest at a rate of$150.0 million 6.93% per year (the "April 2031 Notes"). The April 2031 Notes mature on April 15, 2031 and may be redeemed in whole or in part at any time at our option subject to certain make-whole provisions.- We maintain investment grade credit ratings from each of Fitch Ratings and S&P Global Ratings, both of which have assigned us investment grade credit ratings of BBB- with a stable outlook.
- Our net asset value totaled
, or$3.2 billion per share.$33.92
Investment Portfolio Information as of June 30, 2026(5)
The following table provides a summary of the investments in our LMM portfolio and private loan portfolio as of June 30, 2026:
June 30, 2026 | ||||
LMM (a) | Private Loan | |||
(dollars in millions) | ||||
Number of portfolio companies | 94 | 86 | ||
Fair value | $ 3,205.6 | $ 2,090.9 | ||
Cost | $ 2,547.7 | $ 2,123.5 | ||
Debt investments as a % of portfolio (at cost) | 71.1 % | 94.3 % | ||
Equity investments as a % of portfolio (at cost) | 28.9 % | 5.7 % | ||
% of debt investments at cost secured by first priority lien | 99.4 % | 99.3 % | ||
Weighted-average annual effective yield (b) | 12.6 % | 10.2 % | ||
Average EBITDA (c) | $ 11.8 | $ 39.3 | ||
___________________________ | |
(a) | We had equity ownership in all of our LMM portfolio companies, and our average fully diluted equity ownership in those portfolio companies was |
(b) | The weighted-average annual effective yields were computed using the effective interest rates for all debt investments as of June 30, 2026, including amortization of deferred debt origination fees and accretion of original issue discount but excluding fees payable upon repayment of the debt investments and any debt investments on non-accrual status, and are weighted based upon the principal amount of each applicable debt investment as of June 30, 2026. |
(c) | The average EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is calculated using a simple average for the LMM portfolio companies and a weighted-average for the private loan portfolio companies. These calculations exclude certain portfolio companies, including six LMM portfolio companies and five private loan portfolio companies, as EBITDA is not a meaningful valuation metric for our investments in these portfolio companies, and those portfolio companies whose primary purpose is to own real estate and those portfolio companies whose primary operations have ceased and only residual value remains. |
The fair value of our LMM portfolio company equity investments was
As of June 30, 2026, our investment portfolio also included:
- Other portfolio investments in 34 entities, spread across 13 investment managers, collectively totaling
in fair value and$141.3 million in cost basis, which comprised$150.8 million 2.5% and3.0% of our investment portfolio at fair value and cost, respectively; - Middle market portfolio investments in 11 portfolio companies, collectively totaling
in fair value and$83.1 million in cost basis, which comprised$123.1 million 1.4% and2.5% of our investment portfolio at fair value and cost, respectively; and - Our investment in the External Investment Manager, with a fair value of
and a cost basis of$225.2 million , which comprised$29.5 million 3.9% and0.6% of our investment portfolio at fair value and cost, respectively.
As of June 30, 2026, investments on non-accrual status comprised
External Investment Manager
MSC Adviser I, LLC is our wholly-owned portfolio company and registered investment adviser that provides investment management services to external parties (the "External Investment Manager"). We share employees with the External Investment Manager and allocate costs related to such shared employees and other operating expenses to the External Investment Manager. The total contribution of the External Investment Manager to our NII consists of the combination of the expenses we allocate to the External Investment Manager and the dividend income we earn from the External Investment Manager. During the second quarter of 2026, the External Investment Manager earned
The External Investment Manager ended the second quarter of 2026 with total assets under management of
Second Quarter 2026 Financial Results Conference Call / Webcast
Main Street has scheduled a conference call for Friday, August 7, 2026 at 10:00 a.m. Eastern time to discuss the second quarter 2026 financial results.(7)
You may access the conference call by dialing 412-902-0030 at least 10 minutes prior to the start time. The conference call can also be accessed via a simultaneous webcast by logging into the investor relations section of the Main Street website at https://www.mainstcapital.com.
A telephonic replay of the conference call will be available through Friday, August 14, 2026 and may be accessed by dialing 201-612-7415 and using the passcode 13761583#. An audio archive of the conference call will also be available on the investor relations section of the Company's website at https://www.mainstcapital.com shortly after the call and will be accessible until the date of Main Street's earnings release for the next quarter.
For a more detailed discussion of the financial and other information included in this press release, please refer to the Main Street Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026 to be filed with the
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides customized "one-stop" debt and equity financing solutions within its lower middle market investment strategy. Main Street seeks to partner with private equity fund sponsors and primarily invests in secured debt investments in its private loan investment strategy. Main Street's lower middle market portfolio companies generally have annual revenues between
Main Street, through its wholly-owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.
FORWARD-LOOKING STATEMENTS
Main Street cautions that statements in this press release which are forward‑looking and provide other than historical information, including but not limited to Main Street's ability to successfully source and execute on new portfolio investments and deliver 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. Although its management believes that the expectations reflected in those forward‑looking statements are reasonable, Main Street can give no assurance that those expectations will prove to be correct. Those forward-looking statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including, without limitation: Main Street's continued effectiveness in raising, investing and managing capital; adverse changes in the economy generally or in the industries in which Main Street's portfolio companies operate; the impacts of macroeconomic factors on Main Street and its portfolio companies' businesses and operations, liquidity and access to capital, and on the U.S. and global economies, including impacts related to pandemics and other public health crises, global conflicts, risk of recession, tariffs and trade disputes, inflation, supply chain constraints or disruptions and changes in market index interest rates; changes in laws and regulations or business, political and/or regulatory conditions that may adversely impact Main Street's operations or the operations of its portfolio companies; the operating and financial performance of Main Street's portfolio companies and their access to capital; retention of key investment personnel; competitive factors; and such other factors described under the captions "Cautionary Statement Concerning Forward-Looking Statements" and "Risk Factors" included in Main Street's filings with the SEC (www.sec.gov). Main Street undertakes no obligation to update the information contained herein to reflect subsequently occurring events or circumstances, except as required by applicable securities laws and regulations.
MAIN STREET CAPITAL CORPORATION Consolidated Statements of Operations (in thousands, except shares and per share amounts) (Unaudited)
| |||||||
Three Months Ended | Six Months Ended | ||||||
2026 | 2025 | 2026 | 2025 | ||||
INVESTMENT INCOME: | |||||||
Interest, dividend and fee income: | |||||||
Control investments | $ 58,182 | $ 60,212 | $ 119,846 | $ 116,454 | |||
Affiliate investments | 32,236 | 25,767 | 58,417 | 49,501 | |||
Non‑Control/Non‑Affiliate investments | 59,154 | 57,994 | 111,415 | 115,064 | |||
Total investment income | 149,572 | 143,973 | 289,678 | 281,019 | |||
EXPENSES: | |||||||
Interest | (36,637) | (32,519) | (70,680) | (63,687) | |||
Compensation | (14,239) | (12,677) | (27,424) | (24,153) | |||
General and administrative | (5,718) | (5,919) | (11,114) | (11,005) | |||
Share-based compensation | (5,807) | (5,416) | (10,912) | (10,258) | |||
Expenses allocated to the External Investment Manager | 6,626 | 5,892 | 12,092 | 11,228 | |||
Total expenses | (55,775) | (50,639) | (108,038) | (97,875) | |||
NET INVESTMENT INCOME BEFORE TAXES | 93,797 | 93,334 | 181,640 | 183,144 | |||
Excise tax expense | (659) | (818) | (1,040) | (2,159) | |||
Federal and state income and other tax expenses | (2,814) | (4,333) | (5,697) | (6,905) | |||
NET INVESTMENT INCOME | 90,324 | 88,183 | 174,903 | 174,080 | |||
NET REALIZED GAIN (LOSS): | |||||||
Control investments | 46,326 | (2,998) | 56,361 | (2,976) | |||
Affiliate investments | — | 55,647 | — | 57,711 | |||
Non‑Control/Non‑Affiliate investments | (13,498) | (229) | (5,560) | (31,860) | |||
Total net realized gain | 32,828 | 52,420 | 50,801 | 22,875 | |||
NET UNREALIZED APPRECIATION (DEPRECIATION): | |||||||
Control investments | (13,398) | 33,154 | (60,606) | 33,555 | |||
Affiliate investments | 12,046 | (47,745) | 17,227 | (8,742) | |||
Non‑Control/Non‑Affiliate investments | 33,572 | (4,360) | 25,000 | 19,426 | |||
Total net unrealized appreciation (depreciation) | 32,220 | (18,951) | (18,379) | 44,239 | |||
Income tax benefit (provision) on net realized gain and net unrealized appreciation (depreciation) | (7,795) | 882 | (10,767) | (2,578) | |||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $ 147,577 | $ 122,534 | $ 196,558 | $ 238,616 | |||
NET INVESTMENT INCOME PER SHARE—BASIC AND DILUTED | $ 0.97 | $ 0.99 | $ 1.90 | $ 1.96 | |||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE—BASIC AND DILUTED | $ 1.58 | $ 1.37 | $ 2.14 | $ 2.68 | |||
WEIGHTED-AVERAGE SHARES OUTSTANDING—BASIC AND DILUTED | 93,253,619 | 89,258,390 | 91,961,399 | 88,986,215 | |||
MAIN STREET CAPITAL CORPORATION Consolidated Balance Sheets (in thousands, except per share amounts)
| ||||
June 30, | December 31, | |||
2026 | 2025 | |||
(Unaudited) | ||||
ASSETS | ||||
Investments at fair value: | ||||
Control investments | $ 2,587,784 | $ 2,569,626 | ||
Affiliate investments | 1,005,158 | 965,179 | ||
Non‑Control/Non‑Affiliate investments | 2,153,102 | 1,983,312 | ||
Total investments | 5,746,044 | 5,518,117 | ||
Cash and cash equivalents | 58,306 | 41,959 | ||
Interest and dividend receivable | 51,541 | 48,719 | ||
Prepaids and other assets | 70,147 | 59,186 | ||
Deferred financing costs, net | 15,003 | 13,720 | ||
Total assets | $ 5,941,041 | $ 5,681,701 | ||
LIABILITIES | ||||
Credit Facilities | $ 241,000 | $ 518,000 | ||
March 2029 Notes | 550,612 | 347,721 | ||
July 2026 Notes | 499,978 | 499,715 | ||
June 2027 Notes | 399,713 | 399,569 | ||
August 2028 Notes | 348,378 | 347,996 | ||
SBIC debentures | 345,181 | 344,593 | ||
April 2031 Notes | 148,991 | — | ||
Accounts payable and other liabilities | 54,941 | 67,799 | ||
Interest payable | 36,711 | 30,094 | ||
Dividend payable | 24,740 | 23,358 | ||
Deferred tax liability, net | 124,258 | 108,963 | ||
Total liabilities | 2,774,503 | 2,687,808 | ||
NET ASSETS | ||||
Common stock | 934 | 898 | ||
Additional paid‑in capital | 2,633,935 | 2,457,660 | ||
Total undistributed earnings | 531,669 | 535,335 | ||
Total net assets | 3,166,538 | 2,993,893 | ||
Total liabilities and net assets | $ 5,941,041 | $ 5,681,701 | ||
NET ASSET VALUE PER SHARE | $ 33.92 | $ 33.33 | ||
MAIN STREET CAPITAL CORPORATION Reconciliation of Distributable Net Investment Income, Distributable Net Investment Income Before Taxes, Total Non-Cash Compensation Expenses, Total Cash Expenses and Total Cash Compensation Expenses (in thousands, except per share amounts) (Unaudited)
| |||||||
Three Months Ended | Six Months Ended | ||||||
June 30, | June 30, | ||||||
2026 | 2025 | 2026 | 2025 | ||||
Net investment income | $ 90,324 | $ 88,183 | $ 174,903 | $ 174,080 | |||
Non-cash compensation expenses (4) | 7,068 | 6,161 | 13,275 | 11,183 | |||
Distributable net investment income (1) | $ 97,392 | $ 94,344 | $ 188,178 | $ 185,263 | |||
Excise tax expense | 659 | 818 | 1,040 | 2,159 | |||
Federal and state income and other tax expenses | 2,814 | 4,333 | 5,697 | 6,905 | |||
Distributable net investment income before taxes (2) | $ 100,865 | $ 99,495 | $ 194,915 | $ 194,327 | |||
Per share amounts: | |||||||
Net investment income per share - | |||||||
Basic and diluted | $ 0.97 | $ 0.99 | $ 1.90 | $ 1.96 | |||
Distributable net investment income per share - | |||||||
Basic and diluted (1) | $ 1.04 | $ 1.06 | $ 2.05 | $ 2.08 | |||
Distributable net investment income before taxes per share - | |||||||
Basic and diluted (2) | $ 1.08 | $ 1.11 | $ 2.12 | $ 2.18 | |||
Three Months Ended | Six Months Ended | ||||||
June 30, | June 30, | ||||||
2026 | 2025 | 2026 | 2025 | ||||
Share‑based compensation | $ (5,807) | $ (5,416) | $ (10,912) | $ (10,258) | |||
Deferred compensation expense | (1,261) | (745) | (2,363) | (925) | |||
Total non-cash compensation expenses (4) | (7,068) | (6,161) | (13,275) | (11,183) | |||
Total expenses | (55,775) | (50,639) | (108,038) | (97,875) | |||
Less non-cash compensation expenses (4) | 7,068 | 6,161 | 13,275 | 11,183 | |||
Total cash expenses (4) | $ (48,707) | $ (44,478) | $ (94,763) | $ (86,692) | |||
Compensation | $ (14,239) | $ (12,677) | $ (27,424) | $ (24,153) | |||
Share-based compensation | (5,807) | (5,416) | (10,912) | (10,258) | |||
Total compensation expenses | (20,046) | (18,093) | (38,336) | (34,411) | |||
Non-cash compensation expenses (4) | 7,068 | 6,161 | 13,275 | 11,183 | |||
Total cash compensation expenses (4) | $ (12,978) | $ (11,932) | $ (25,061) | $ (23,228) | |||
MAIN STREET CAPITAL CORPORATION
Endnotes
(1) | DNII is NII as determined in accordance with |
(2) | DNII before taxes is NII as determined in accordance with |
(3) | Return on equity equals the net increase in net assets resulting from operations divided by the average quarterly total net assets. |
(4) | Non-cash compensation expenses consist of (i) share-based compensation and (ii) deferred compensation expense or benefit, both of which are non-cash in nature. Share-based compensation does not require settlement in cash. Deferred compensation expense or benefit does not result in a net cash impact to Main Street upon settlement. The appreciation (depreciation) in the fair value of deferred compensation plan assets is reflected in Main Street's Consolidated Statements of Operations as unrealized appreciation (depreciation) and an increase (decrease) in compensation expenses, respectively. Cash compensation expenses are total compensation expenses as determined in accordance with |
(5) | Portfolio company financial information has not been independently verified by Main Street. |
(6) | These credit statistics exclude portfolio companies on non-accrual status and portfolio companies for which EBITDA is not a meaningful metric. |
(7) | No information contained on the Company's website or disclosed on the August 7, 2026 conference call, including the webcast and the archived versions, is incorporated by reference in this press release or any of the Company's filings with the SEC, and you should not consider that information to be part of this press release or any other such filing. |
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com
Ryan R. Nelson, CFO, rnelson@mainstcapital.com
713-350-6000
Dennard Lascar Investor Relations
Ken Dennard / ken@dennardlascar.com
Zach Vaughan / zvaughan@dennardlascar.com
713-529-6600
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SOURCE Main Street Capital Corporation