MidCap Financial reports Q2 EPS 45c, consensus 43c

Reports Q2 NAV per share $15.38. Tanner Powell, the company’s Chief Executive Officer said, “Results for the June quarter reflect solid recurring income and strong fee and prepayment income and relatively stable credit quality. We believe these results underscore the benefits of our strategy of building a well-diversified portfolio of true first lien middle market loans as well as our industry leading fee structure.” Mr. Powell continued, “We are pleased to have successfully closed on our transformative mergers with two other Apollo managed funds post quarter end, which increased MFIC‘s net assets by approximately 43.7% to approximately $1.4 billion, providing MFIC with significant investing capacity. We believe our affiliation with MidCap Financial, a leading middle market lender managed by Apollo, will allow us to prudently deploy this capital in attractive investment opportunities. We remain enthusiastic about realizing the potential benefits of a larger combined company-including enhanced returns for all stockholders, greater scale, and enhanced portfolio diversification.”