Main Street sees Q1 NAV $32.00-$32.06

Main Street (MAIN) Capital announced its preliminary operating results for the Q1. Dwayne L. Hyzak, Main Street’s CEO, stated, “We are pleased with our performance in the first quarter, which resulted in another quarter of strong operating results, including a new record for NAV per share for the eleventh consecutive quarter, favorable distributable net investment income per share and significant net unrealized appreciation, which resulted in an estimated return on equity of over 16% for the first quarter. We are pleased with our first quarter 2025 results and look forward to sharing the full details of our results in a few weeks.” Sees Q1 NIIs $1.00-$1.02 per share and distributable NII $1.06-$1.08 per share. Sees NAV per share as of March 31, $32.00-$32.06, representing an increase of 35c-41c per share, or 1.1%-1.3%, from the NAV per share of $31.65 as of December 31, 2024, with this increase after the impact of the supplemental dividend paid in March 2025 of $0.30 per share. The estimated increase in NAV per share is primarily due to the net fair value increase on the investment portfolio resulting from the net unrealized appreciation and the net realized loss on portfolio investments, including a decrease in the fair value of the wholly-owned asset manager, and the accretive impact of equity issuances during the quarter, partially offset by the net tax provision for the quarter. Main Street estimates that it generated a quarterly annualized return on equity of over 16% for the Q1. Sees investments on non-accrual status comprised 1.7% of the total investment portfolio at fair value and 4.5% at cost as of March 31.