Business
New Mountain Finance Corporation Announces Second Quarter Financial Results
Reports Net Investment Income of $0.39 per share and stable Net Asset Value Declares a Regular Third Quarter Distribution of $0.32 per Share and a
About this update from New Mountain Finance Corporation
[{"type":"text","content":"\nReports Net Investment Income of $0.39 per share and stable Net Asset Value\n\n\nDeclares a Regular Third Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.04 per Share\n\n\n NEW YORK--(BUSINESS WIRE)--\nNew Mountain Finance Corporation (NASDAQ: NMFC) (“New Mountain,” “New Mountain Finance” or the “Company”) today announced its financial results for the quarter ended June 30, 2023. The Company reported second quarter net investment income (\"NII\") of $0.39 per weighted average share, a 26% increase in year-over-year NII, and net asset value (“NAV”) per share of $13.14, in line with prior quarter NAV of $13.14. The Company also announced that its board of directors declared a third quarter regular distribution of $0.32 per share and a supplemental distribution of $0.04, which will be payable on September 29, 2023 to holders of record as of September 15, 2023.\n\n\nSelected Financial Highlights\n\n\n\n\n(in thousands, except per share data)\n\n\n\n\n\n\nJune 30, 2023\n\n\n\n\n\n\n\n\nInvestment Portfolio1\n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,195,965\n\n\n\n\n\n\n\n\nTotal Assets\n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,296,981\n\n\n\n\n\n\n\n\nTotal Statutory Debt2\n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,623,483\n\n\n\n\n\n\n\n\nNAV3\n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,326,101\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNAV per Share\n\n\n\n\n\n\n$\n\n\n\n\n\n\n13.14\n\n\n\n\n\n\n\n\nNet Investment Income per Weighted Average Share\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.39\n\n\n\n\n\n\n\n\nRegular Second Quarter Distribution Paid per Share\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.32\n\n\n\n\n\n\n\n\nSupplemental Distribution Paid per Share\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.03\n\n\n\n\n\n\n\n\nStatutory Debt/Equity\n\n\n\n\n\n\n1.22x\n\n\n\n\n\n\n\n\nStatutory Debt/Equity (net of available cash)\n\n\n\n\n\n\n1.19x\n\n\n\n\n\n\n\nManagement Comments on Second Quarter Performance\n\n\n“New Mountain Finance Corporation delivered strong second quarter operating results, highlighted by net investment income of $0.39 per share and resilient credit performance,” said Steven B. Klinsky, NMFC Chairman. “New Mountain continues to benefit from our disciplined, defensive growth strategy that is focused on end markets that perform well in all economic cycles.”\n\n\n“We are pleased to report stable book value in Q2, which was supported by our high-quality portfolio...