Bain Capital Specialty Finance (BCSF)
NYSE:BCSF
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Earnings Data
Report Date
Aug 11, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.43Last Year’s EPS
0.47Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presents a balanced picture: operationally the company shows resilience with dividend coverage, strong liquidity, conservative portfolio structures, low nonaccruals and consistent portfolio yield, and management has executed liability management actions. Offsetting these positives are meaningful mark‑to‑market unrealized losses in the quarter that reduced NAV and EPS, a modest decline in investment income and NII QoQ, and near‑term market headwinds that moderated new activity. Overall the positives and negatives are roughly balanced.Company Guidance
Net Investment Income and Dividend Coverage
Net investment income (NII) of $27.4M ($0.42 per share) for Q1, representing an annualized ROE of 10.0%. NII fully covered the regular dividend; the Board declared a Q2 dividend of $0.42 per share (annualized yield of 10.0% based on March 31, 2026 ending book value).
Portfolio Size, Diversification and Yield
Investment portfolio at fair value of $2.5B across 212 companies in 30 industries. Weighted average portfolio yield of 10.8% (amortized cost) and 10.9% (fair value), consistent with December 31, 2025. Approximately 93% of debt investments are floating rate.
Strong Liquidity and Liability Management
Liquidity of $729M at quarter end, including $660M undrawn revolver capacity and $34.2M cash. Executed $350M unsecured note issuance (March 2031) to prefund 2026 maturities, extending debt duration; weighted average interest rate on debt 4.6% and weighted average maturity ~4.1 years.
Healthy Underlying Credit Metrics
Median borrower net leverage improved to 4.6x EBITDA and median interest coverage remained healthy at ~2.1x. Watch list investments steady at ~5% of portfolio (in line with recent quarters). Nonaccruals low at 1.4% (amortized cost) and 0.6% (fair value), modest improvement from prior quarter.
Active, First‑Lien Biased New Origination Activity
Q1 new fundings totaled $243M across 107 companies (51% into new companies). New fundings were 93% first‑lien; median EBITDA of new companies was $41M, reflecting focus on core middle‑market and defensive sectors.
Repayments and Portfolio Turnover
Sales and repayments totaled ~$255M in the quarter, resulting in net sales and repayments of ~$12.2M, supporting rotation and reinvestment capacity.
Market Positioning and Investment Discipline
Management highlighted Bain Capital platform benefits (sponsor relationships, sector expertise, disciplined underwriting), and conservative structures (control over debt tranches, strong covenants). Q1 new origination spreads averaged ~550 bps; management noted further market pricing widening of ~25–50 bps into Q2.
Signs of Improved Deal Flow in Q2 to Date
Management reported a pickup in volumes in Q2 to date and an investing environment that has modestly improved as spreads widened an additional ~25–50 bps compared with Q1.
BCSF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BCSF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 11, 2026 | $13.30 | $13.50 | +1.50% |
Feb 26, 2026 | $12.31 | $12.47 | +1.26% |
Nov 10, 2025 | $12.88 | $12.71 | -1.37% |
Aug 05, 2025 | $13.26 | $13.61 | +2.64% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Bain Capital Specialty Finance (BCSF) report earnings?
Bain Capital Specialty Finance (BCSF) is schdueled to report earning on Aug 11, 2026, After Close (Confirmed).
What is Bain Capital Specialty Finance (BCSF) earnings time?
Bain Capital Specialty Finance (BCSF) earnings time is at Aug 11, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BCSF EPS forecast?
BCSF EPS forecast for the fiscal quarter 2026 (Q2) is 0.43.