New Mountain Finance Corporation Announces Financial Results for the Quarter Ended September 30, 2024
New Mountain Finance (NMFC) reported financial results for Q3 2024, with adjusted net investment income of $36.7 million ($0.34 per share). The company's net asset value decreased to $12.62 per share from $12.74 in the previous quarter. Portfolio performance remained strong with 97.3% rated green on internal risk rating system. The company generated $146.2 million in gross originations, offset by $100.6 million in repayments. NMFC declared a regular Q4 2024 distribution of $0.32 per share and a supplemental distribution of $0.01 per share, payable December 31, 2024.
New Mountain Finance (NMFC) ha riportato i risultati finanziari per il terzo trimestre del 2024, con un reddito netto da investimenti aggiustato di 36,7 milioni di dollari (0,34 dollari per azione). Il valore netto degli attivi dell'azienda è diminuito a 12,62 dollari per azione rispetto a 12,74 dollari nel trimestre precedente. La performance del portafoglio è rimasta solida, con il 97,3% classificato come verde nel sistema interno di valutazione del rischio. L'azienda ha generato 146,2 milioni di dollari in origination lorde, compensati da 100,6 milioni di dollari in rimborsi. NMFC ha dichiarato una distribuzione regolare per il quarto trimestre del 2024 di 0,32 dollari per azione e una distribuzione supplementare di 0,01 dollari per azione, pagabile il 31 dicembre 2024.
New Mountain Finance (NMFC) reportó resultados financieros para el tercer trimestre de 2024, con ingresos netos de inversión ajustados de 36.7 millones de dólares (0.34 dólares por acción). El valor neto de los activos de la empresa disminuyó a 12.62 dólares por acción desde 12.74 dólares en el trimestre anterior. El desempeño de la cartera se mantuvo sólido, con el 97.3% calificado como verde en el sistema de calificación de riesgo interno. La compañía generó 146.2 millones de dólares en originaciones brutas, compensadas por 100.6 millones de dólares en reembolsos. NMFC declaró una distribución regular para el cuarto trimestre de 2024 de 0.32 dólares por acción y una distribución suplementaria de 0.01 dólares por acción, pagadera el 31 de diciembre de 2024.
뉴 마운틴 파이낸스 (NMFC)는 2024년 3분기 재무 결과를 보고했으며, 조정된 순투자 소득이 3,670만 달러 (주당 0.34 달러)입니다. 회사의 순자산 가치는 이전 분기의 12.74 달러에서 주당 12.62 달러로 감소했습니다. 포트폴리오 성과는 내부 위험 평가 시스템에서 97.3%가 긍정적으로 평가되어 강력하게 유지되었습니다. 이 회사는 1억 4,620만 달러의 총 원천을 생성했으며, 1억 6백만 달러가 상환되었습니다. NMFC는 2024년 4분기에 0.32달러의 정기 배당금을, 2024년 12월 31일 지급할 0.01달러의 추가 배당금을 선언했습니다.
New Mountain Finance (NMFC) a annoncé les résultats financiers pour le troisième trimestre 2024, avec un revenu net d'investissement ajusté de 36,7 millions de dollars (0,34 dollar par action). La valeur nette d'actif de l'entreprise a diminué à 12,62 dollars par action contre 12,74 dollars au trimestre précédent. La performance du portefeuille est restée solide, avec 97,3 % noté vert dans le système d'évaluation des risques interne. L'entreprise a généré 146,2 millions de dollars en nouvelles origines, compensés par 100,6 millions de dollars en remboursements. NMFC a déclaré une distribution régulière de 0,32 dollar par action pour le quatrième trimestre 2024 et une distribution complémentaire de 0,01 dollar par action, payable le 31 décembre 2024.
New Mountain Finance (NMFC) hat die Finanzergebnisse für das dritte Quartal 2024 veröffentlicht, mit bereinigtem Nettoeinkommen aus Investitionen von 36,7 Millionen US-Dollar (0,34 US-Dollar pro Aktie). Der Nettoinventarwert des Unternehmens sank auf 12,62 US-Dollar pro Aktie von 12,74 US-Dollar im vorherigen Quartal. Die Portfolioleistung blieb stark, mit 97,3 % in der internen Risikobewertung als grün bewertet. Das Unternehmen erzielte 146,2 Millionen US-Dollar an Bruttooriginierungen, die durch 100,6 Millionen US-Dollar an Rückzahlungen ausgeglichen wurden. NMFC erklärte eine reguläre Ausschüttung von 0,32 US-Dollar pro Aktie für das vierte Quartal 2024 und eine zusätzliche Ausschüttung von 0,01 US-Dollar pro Aktie, zahlbar am 31. Dezember 2024.
- Adjusted net investment income of $36.7 million ($0.34 per share)
- Strong portfolio performance with 97.3% rated green on risk rating system
- Generated $146.2 million in gross originations
- Declared regular dividend of $0.32 and supplemental dividend of $0.01 per share
- Annualized dividend yield of 11.9%
- Net asset value decreased from $12.74 to $12.62 per share quarter-over-quarter
- Statutory debt/equity ratio increased to 1.26x from 1.21x in previous quarter
- Net investment income per share decreased from $0.40 in Q3 2023 to $0.33 in Q3 2024
Insights
The Q3 2024 results show mixed performance for NMFC. While adjusted net investment income of
Key positives include strong credit quality with
Portfolio remains defensively positioned with focus on software (
The credit profile shows resilience with zero red-rated investments and only 10 investments rated yellow or orange, representing just
The weighted average yield-to-maturity of
While leverage has increased marginally, available liquidity of
Reports Adjusted Net Investment Income1 of
Declares a Regular Fourth Quarter Distribution of
Third Quarter Highlights2
-
Adjusted net investment income1 of
$36.7 million $0.34 -
Net asset value of
$12.62 $12.74 -
Continued strong credit performance with approximately
97.3% of the portfolio rated green on our internal risk rating system, up from97.0% at June 30, 2024 -
Generated
$146.2 million $100.6 million $1.5 million -
Declared a regular fourth quarter 2024 distribution of
$0.32 $0.01
($ in millions, except per share data) |
|
Q3 2024 |
|
Q3 2023 |
||||
Net Investment Income per Weighted Average Share |
|
$ |
0.33 |
|
|
$ |
0.40 |
|
Non-recurring Adjustments1 |
|
|
0.01 |
|
|
|
— |
|
Net Adjusted Investment Income1 per Weighted Average Share |
|
$ |
0.34 |
|
|
$ |
0.40 |
|
Regular & Supplemental Dividends Paid per Share in Quarter |
|
$ |
0.34 |
|
|
$ |
0.36 |
|
Annualized Dividend Yield5 |
|
|
11.9 |
% |
|
|
11.7 |
% |
|
|
September 30, 2024 |
|
June 30, 2024 |
||
Investment Portfolio6 |
|
$ |
3,278.8 |
|
$ |
3,227.3 |
NAV per Share |
|
$ |
12.62 |
|
$ |
12.74 |
Statutory Debt/Equity4 |
|
1.26x |
|
1.21x |
||
Statutory Debt/Equity (Net of Available Cash)4 |
|
1.23x |
|
1.14x |
||
Management Comments on Third Quarter Performance
“Our third quarter results reflect another good quarter for NMFC,” 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. Additionally, our commitment to the
John R. Kline, CEO, commented: “NMFC continues perform well with adjusted earnings per share of
Portfolio and Investment Activity6
As of September 30, 2024, the Company’s NAV2 was
Portfolio and Asset Quality
NMFC’s mandate is to primarily target businesses in the middle market that, consistent with New Mountain’s private equity platform, are high quality, defensive growth companies in industries that are well-researched by New Mountain. The Company’s focus is on defensive growth businesses that generally exhibit the following characteristics: (i) acyclicality, (ii) sustainable secular growth drivers, (iii) niche market dominance and high barriers to competitive entry, (iv) recurring revenue and strong free cash flow, (v) flexible cost structures and (vi) seasoned management teams.
Portfolio Industry Composition based on Fair Value9
Software |
|
Business Services |
||||||
|
ERP |
8.1 % |
|
|
Engineering & Consulting Services |
5.4 % |
||
|
IT Infrastructure & Security |
7.1 % |
|
|
Real Estate Services |
4.6 % |
||
|
Human Capital Management |
5.3 % |
|
|
Insurance & Benefits Services |
3.6 % |
||
|
Ecommerce & Logistics |
4.0 % |
|
|
Misc Services |
3.5 % |
||
|
Governance, Risk & Compliance |
3.1 % |
|
|
Digital Transformation |
2.3 % |
||
|
Finance & Accounting |
3.0 % |
|
|
Utility Services |
0.9 % |
||
|
Integrated Payments |
1.6 % |
|
|
Data & Information Services |
0.2 % |
||
Total Software |
32.2 % |
|
Total Business Services |
20.5 % |
||||
|
|
|
|
|
|
|
|
|
Healthcare |
|
Other Industries |
|
|||||
|
Healthcare Services |
9.8 % |
|
|
Consumer Services |
6.9 % |
||
|
Healthcare Software |
6.0 % |
|
|
Education |
6.5 % |
||
|
Tech-Enabled Healthcare |
1.0 % |
|
|
Financial Services |
4.3 % |
||
|
Pharma Services |
0.7 % |
|
|
Distribution & Logistics |
4.0 % |
||
|
Healthcare Products |
0.2 % |
|
|
Packaging |
2.4 % |
||
|
|
|
|
|
Other |
5.5 % |
||
Total Healthcare |
17.7 % |
|
Total Other Industries |
29.6 % |
||||
The Company monitors the performance and financial trends of its portfolio companies on at least a quarterly basis. The Company attempts to identify any developments within the portfolio company, the industry, or the macroeconomic environment that may alter any material element of the Company’s original investment strategy. As described more fully in the Company's Quarterly Report on Form 10-Q filed with the
The following table shows the Risk Rating of the Company’s portfolio companies as of September 30, 2024:
(in millions) |
As of September 30, 2024 |
||||||||||||||
Risk Rating |
|
Cost |
|
Percent |
|
Fair Value |
|
Percent |
|
Weighted Average Mark |
|||||
Green8 |
|
$ |
3,143.6 |
|
95.4 |
% |
|
$ |
3,189.0 |
|
97.3 |
% |
|
99.0 |
% |
Yellow6 |
|
|
80.3 |
|
2.4 |
% |
|
|
53.0 |
|
1.6 |
% |
|
65.9 |
% |
Orange |
|
|
72.4 |
|
2.2 |
% |
|
|
36.8 |
|
1.1 |
% |
|
64.4 |
% |
Red |
|
|
— |
|
— |
|
|
|
— |
|
— |
|
|
— |
|
Total |
|
$ |
3,296.3 |
|
100.0 |
% |
|
$ |
3,278.8 |
|
100.0 |
% |
|
|
|
As of September 30, 2024, all investments in the Company’s portfolio had a Green Risk Rating, with the exception of four portfolio companies that had a Yellow Risk Rating and six portfolio companies that had an Orange Risk Rating. As of September 30, 2024, there were no portfolio companies that had a Red Risk Rating.
The following table shows the Company’s investment portfolio composition as of September 30, 2024:
(in millions) |
|
|
|
|
||
Investment Portfolio Composition |
|
September 30, 2024 |
|
Percent of Total |
||
First Lien |
|
$ |
2,072.5 |
|
63.2 |
% |
Senior Loan Funds (SLP III & SLP IV) & NMNLC |
|
|
397.3 |
|
12.1 |
% |
Second Lien6 |
|
|
264.4 |
|
8.1 |
% |
Subordinated |
|
|
109.8 |
|
3.3 |
% |
Preferred Equity |
|
|
235.1 |
|
7.2 |
% |
Common Equity and Other |
|
|
199.8 |
|
6.1 |
% |
Total |
|
$ |
3,278.8 |
|
100.0 |
% |
Liquidity and Capital Resources
As of September 30, 2024, the Company had cash and cash equivalents of
Third Quarter 2024 Conference Call
New Mountain Finance Corporation will host an earnings conference call and webcast at 10:00 am Eastern Time on Thursday, October 31, 2024. To participate in the live earning conference call, please use the following dial-in numbers or visit the audio webcast link. To avoid any delays, please join at least fifteen minutes prior to the start of the call.
-
United States : +1 (877) 443-9109 - International: +1 (412) 317-1082
- Live Audio Webcast
A replay of the conference call can be accessed one hour after the end of the conference call through January 31, 2025. The full webcast replay will be available through October 31, 2025. To access the earnings webcast replay please visit the New Mountain Investor Relations website.
-
United States : +1 (877) 344-7529 - International: +1 (412) 317-0088
- Access Code: 7380144
For additional details related to the quarter ended September 30, 2024, please refer to the New Mountain Finance Corporation Quarterly Report on Form 10-Q filed with the SEC and the supplemental investor presentation which can be found on the Company's website at http://www.newmountainfinance.com.
| ____________________________________________ | ||
(1) |
Adjusted net investment income for Q3 2024 includes |
|
(2) |
Excludes non-controlling interest in New Mountain Net Lease Corporation (“NMNLC”). |
|
(3) |
Originations exclude payment-in-kind (“PIK”); originations, repayments, and sales excludes revolvers, unfunded commitments, bridges, return of capital, and realized gains / losses. |
|
(4) |
Excludes the Company’s United States Small Business Administration (“SBA”) guaranteed debentures. |
|
(5) |
Dividend yield calculation uses the closing stock price of |
|
(6) |
Includes collateral for securities purchased under collateralized agreements to resell. |
|
(7) |
References to “YTM at Cost” assume the accruing investments, including secured collateralized agreements, in the Company's portfolio as of a certain date, the “Portfolio Date”, are purchased at cost on that date and held until their respective maturities with no prepayments or losses and are exited at par at maturity. This calculation excludes the impact of existing leverage. YTM at Cost uses the Sterling Overnight Interbank Average Rate ("SONIA”), Euro Interbank Offered Rate ("EURIBOR") and Secured Overnight Financing Rate (“SOFR”) curves at each quarter’s respective end date. The actual yield to maturity may be higher or lower due to the future selection of SONIA, EURIBOR and SOFR contracts by the individual companies in the Company’s portfolio or other factors. |
|
(8) |
Includes investments held in NMNLC. |
|
(9) |
Excludes NMFC Senior Loan Program III LLC ("SLP III"), NMFC Senior Loan Program IV LLC ("SLP IV") and NMNLC. |
|
New Mountain Finance Corporation Consolidated Statements of Assets and Liabilities (in thousands, except shares and per share data) (unaudited) |
|||||||
|
September 30, 2024 |
|
December 31, 2023 |
||||
Assets |
|
|
|
||||
Investments at fair value |
|
|
|
||||
Non-controlled/non-affiliated investments (cost of |
$ |
2,446,773 |
|
|
$ |
2,209,867 |
|
Non-controlled/affiliated investments (cost of |
|
113,017 |
|
|
|
133,659 |
|
Controlled investments (cost of |
|
705,481 |
|
|
|
667,796 |
|
Total investments at fair value (cost of |
|
3,265,271 |
|
|
|
3,011,322 |
|
Securities purchased under collateralized agreements to resell (cost of |
|
13,500 |
|
|
|
16,500 |
|
Cash and cash equivalents |
|
61,943 |
|
|
|
70,090 |
|
Interest and dividend receivable |
|
45,905 |
|
|
|
44,107 |
|
Derivative asset at fair value |
|
8,320 |
|
|
|
— |
|
Receivable from affiliates |
|
139 |
|
|
|
82 |
|
Deferred tax asset |
|
— |
|
|
|
594 |
|
Other assets |
|
19,178 |
|
|
|
16,519 |
|
Total assets |
$ |
3,414,256 |
|
|
$ |
3,159,214 |
|
Liabilities |
|
|
|
||||
Borrowings |
|
|
|
||||
Unsecured Notes |
$ |
993,577 |
|
|
$ |
506,500 |
|
Holdings Credit Facility |
|
407,563 |
|
|
|
515,063 |
|
SBA-guaranteed debentures |
|
300,000 |
|
|
|
300,000 |
|
Convertible Notes |
|
260,120 |
|
|
|
260,207 |
|
NMFC Credit Facility |
|
55,031 |
|
|
|
36,813 |
|
NMNLC Credit Facility II |
|
2,908 |
|
|
|
2,853 |
|
DB Credit Facility |
|
— |
|
|
|
186,400 |
|
Deferred financing costs (net of accumulated amortization of |
|
(26,229 |
) |
|
|
(22,387 |
) |
Net borrowings |
|
1,992,970 |
|
|
|
1,785,449 |
|
Interest payable |
|
18,485 |
|
|
|
20,440 |
|
Management fee payable |
|
10,730 |
|
|
|
10,116 |
|
Payable to broker |
|
10,370 |
|
|
|
— |
|
Incentive fee payable |
|
8,821 |
|
|
|
8,555 |
|
Deferred tax liability |
|
1,100 |
|
|
|
— |
|
Derivative liability at fair value |
|
781 |
|
|
|
— |
|
Other liabilities |
|
3,420 |
|
|
|
2,931 |
|
Total liabilities |
|
2,046,677 |
|
|
|
1,827,491 |
|
Commitments and contingencies |
|
|
|
||||
Net assets |
|
|
|
||||
Preferred stock, par value |
|
— |
|
|
|
— |
|
Common stock, par value |
|
1,079 |
|
|
|
1,026 |
|
Paid in capital in excess of par |
|
1,398,395 |
|
|
|
1,331,269 |
|
Accumulated undistributed earnings |
|
(38,178 |
) |
|
|
(12,344 |
) |
Total net assets of New Mountain Finance Corporation |
$ |
1,361,296 |
|
|
$ |
1,319,951 |
|
Non-controlling interest in New Mountain Net Lease Corporation |
|
6,283 |
|
|
|
11,772 |
|
Total net assets |
$ |
1,367,579 |
|
|
$ |
1,331,723 |
|
Total liabilities and net assets |
$ |
3,414,256 |
|
|
$ |
3,159,214 |
|
Number of shares outstanding |
|
107,851,415 |
|
|
|
102,558,859 |
|
Net asset value per share of New Mountain Finance Corporation |
$ |
12.62 |
|
|
$ |
12.87 |
|
New Mountain Finance Corporation Consolidated Statements of Operations (in thousands, except shares and per share data) (unaudited) |
|||||||||||||||
|
Three Months Ended |
|
Nine Months Ended |
||||||||||||
|
September 30, 2024 |
|
September 30, 2023 |
|
September 30, 2024 |
|
September 30, 2023 |
||||||||
Investment income |
|
|
|
|
|
|
|
||||||||
From non-controlled/non-affiliated investments: |
|
|
|
|
|
|
|
||||||||
Interest income (excluding Payment-in-kind ("PIK") interest income) |
$ |
61,788 |
|
|
$ |
63,892 |
|
|
$ |
175,608 |
|
|
$ |
189,299 |
|
PIK interest income |
|
4,340 |
|
|
|
4,061 |
|
|
|
13,460 |
|
|
|
11,772 |
|
Dividend income |
|
185 |
|
|
|
49 |
|
|
|
2,762 |
|
|
|
143 |
|
Non-cash dividend income |
|
5,077 |
|
|
|
4,458 |
|
|
|
14,558 |
|
|
|
12,929 |
|
Other income |
|
1,454 |
|
|
|
791 |
|
|
|
6,345 |
|
|
|
3,395 |
|
From non-controlled/affiliated investments: |
|
|
|
|
|
|
|
||||||||
Interest income (excluding PIK interest income) |
|
349 |
|
|
|
884 |
|
|
|
1,093 |
|
|
|
1,576 |
|
PIK interest income |
|
971 |
|
|
|
265 |
|
|
|
2,680 |
|
|
|
1,370 |
|
Non-cash dividend income |
|
1,593 |
|
|
|
1,173 |
|
|
|
4,211 |
|
|
|
3,417 |
|
Other income |
|
63 |
|
|
|
63 |
|
|
|
188 |
|
|
|
189 |
|
From controlled investments: |
|
|
|
|
|
|
|
||||||||
Interest income (excluding PIK interest income) |
|
1,651 |
|
|
|
1,351 |
|
|
|
4,395 |
|
|
|
4,038 |
|
PIK interest income |
|
3,739 |
|
|
|
3,591 |
|
|
|
11,595 |
|
|
|
11,665 |
|
Dividend income |
|
11,789 |
|
|
|
11,041 |
|
|
|
36,812 |
|
|
|
34,179 |
|
Non-cash dividend income |
|
1,649 |
|
|
|
1,357 |
|
|
|
4,715 |
|
|
|
3,879 |
|
Other income |
|
679 |
|
|
|
1,373 |
|
|
|
2,049 |
|
|
|
3,943 |
|
Total investment income |
|
95,327 |
|
|
|
94,349 |
|
|
|
280,471 |
|
|
|
281,794 |
|
Expenses |
|
|
|
|
|
|
|
||||||||
Interest and other financing expenses |
|
37,661 |
|
|
|
31,425 |
|
|
|
101,790 |
|
|
|
93,921 |
|
Management fee |
|
11,700 |
|
|
|
11,334 |
|
|
|
34,048 |
|
|
|
34,549 |
|
Incentive fee |
|
8,821 |
|
|
|
10,169 |
|
|
|
27,760 |
|
|
|
29,748 |
|
Administrative expenses |
|
1,059 |
|
|
|
995 |
|
|
|
3,135 |
|
|
|
2,996 |
|
Professional fees |
|
1,019 |
|
|
|
850 |
|
|
|
3,213 |
|
|
2,818 |
|
|
Other general and administrative expenses |
|
531 |
|
|
|
542 |
|
|
|
1,523 |
|
|
|
1,543 |
|
Total expenses |
|
60,791 |
|
|
|
55,315 |
|
|
|
171,469 |
|
|
|
165,575 |
|
Less: management fee waived |
|
(970 |
) |
|
|
(1,013 |
) |
|
|
(2,732 |
) |
|
|
(3,172 |
) |
Net expenses |
|
59,821 |
|
|
|
54,302 |
|
|
|
168,737 |
|
|
|
162,403 |
|
Net investment income before income taxes |
|
35,506 |
|
|
|
40,047 |
|
|
|
111,734 |
|
|
|
119,391 |
|
Income tax expense (benefit) |
|
118 |
|
|
|
(627 |
) |
|
|
353 |
|
|
|
401 |
|
Net investment income |
|
35,388 |
|
|
|
40,674 |
|
|
|
111,381 |
|
|
|
118,990 |
|
Net realized (losses) gains: |
|
|
|
|
|
|
|
||||||||
Non-controlled/non-affiliated investments |
|
(75 |
) |
|
|
113 |
|
|
|
(46,899 |
) |
|
|
(8,509 |
) |
Controlled investments |
|
(456 |
) |
|
|
4,560 |
|
|
|
3,375 |
|
|
|
16,413 |
|
Foreign currency |
|
(1,455 |
) |
|
|
— |
|
|
|
(1,455 |
) |
|
|
13 |
|
Net change in unrealized appreciation (depreciation): |
|
|
|
|
|
|
|
||||||||
Non-controlled/non-affiliated investments |
|
419 |
|
|
|
12,419 |
|
|
|
56,474 |
|
|
|
11,664 |
|
Non-controlled/affiliated investments |
|
(7,853 |
) |
|
|
(14,815 |
) |
|
|
(34,396 |
) |
|
|
(14,830 |
) |
Controlled investments |
|
(4,260 |
) |
|
|
(14,483 |
) |
|
|
(243 |
) |
|
|
(15,174 |
) |
Securities purchased under collateralized agreements to resell |
|
— |
|
|
|
— |
|
|
|
(3,000 |
) |
|
|
(39 |
) |
New Mountain Net Lease Corporation |
|
1,533 |
|
|
|
— |
|
|
|
1,533 |
|
|
|
— |
|
Foreign currency |
|
1,690 |
|
|
|
(60 |
) |
|
|
1,796 |
|
|
|
(5 |
) |
(Provision) benefit for taxes |
|
(1,037 |
) |
|
|
291 |
|
|
|
(1,804 |
) |
|
|
66 |
|
Net realized and unrealized losses |
|
(11,494 |
) |
|
|
(11,975 |
) |
|
|
(24,619 |
) |
|
|
(10,401 |
) |
Net increase in net assets resulting from operations |
|
23,894 |
|
|
|
28,699 |
|
|
|
86,762 |
|
|
|
108,589 |
|
Less: Net increase in net assets resulting from operations related to non-controlling interest in New Mountain Net Lease Corporation |
|
(5 |
) |
|
|
(3 |
) |
|
|
(994 |
) |
|
|
(490 |
) |
Net increase in net assets resulting from operations related to New Mountain Finance Corporation |
$ |
23,889 |
|
|
$ |
28,696 |
|
|
$ |
85,768 |
|
|
$ |
108,099 |
|
Basic earnings per share |
$ |
0.22 |
|
|
$ |
0.28 |
|
|
$ |
0.81 |
|
|
$ |
1.07 |
|
Weighted average shares of common stock outstanding - basic |
|
107,851,415 |
|
|
|
100,954,898 |
|
|
|
106,140,789 |
|
|
|
100,943,049 |
|
Diluted earnings per share |
$ |
0.22 |
|
|
$ |
0.27 |
|
|
$ |
0.78 |
|
|
$ |
0.98 |
|
Weighted average shares of common stock outstanding - diluted |
|
126,779,819 |
|
|
|
123,183,269 |
|
|
|
125,000,872 |
|
|
|
124,595,709 |
|
Distributions declared and paid per share |
$ |
0.34 |
|
|
$ |
0.36 |
|
|
$ |
1.04 |
|
|
$ |
1.03 |
|
ABOUT NEW MOUNTAIN FINANCE CORPORATION
New Mountain Finance Corporation (NASDAQ: NMFC) is a leading business development company (BDC) focused on providing direct lending solutions to
ABOUT NEW MOUNTAIN CAPITAL
New Mountain Capital ("NMC") is a
FORWARD-LOOKING STATEMENTS
Statements included herein may contain “forward-looking statements”, which relate to our future operations, future performance or our financial condition. Forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties, including changes in base interest rates and significant volatility on our business, portfolio companies, our industry and the global economy. Actual results and outcomes may differ materially from those anticipated in the forward-looking statements as a result of a variety of factors, including those described from time to time in our filings with the Securities and Exchange Commission or factors that are beyond our control. New Mountain Finance Corporation undertakes no obligation to publicly update or revise any forward-looking statements made herein, except as may be required by law. All forward-looking statements speak only as of the time of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241030797709/en/
New Mountain Finance Corporation
Investor Relations
Laura C. Holson, Authorized Representative
NMFCIR@newmountaincapital.com
(212) 220-3505
Source: New Mountain Finance Corporation
FAQ
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