Main Street Capital (MAIN) Tops Q1 EPS by 3c

Main Street Capital (NYSE: MAIN) reported Q1 EPS of $0.57, $0.03 better than the analyst estimate of $0.54. Revenue for the quarter came in at $42 million versus the consensus estimate of $42.95 million.

In commenting on Main Street's results, Vincent D. Foster, Main Street's Chairman and Chief Executive Officer, stated, "We are pleased that our operating results for the first quarter of 2016 continued to demonstrate the unique benefits of our diversified portfolio, differentiated investment strategy and efficient operating structure. As a result of our positive performance, we again generated distributable net investment income per share in excess of our regular monthly dividends, exceeding the regular monthly dividends paid during the quarter by over 5% and maintaining our track record of never having paid a distribution that represented a return of capital. In addition, we also generated net realized gains of over $13 million, primarily from the favorable sale of one of our lower middle market portfolio companies. We are also pleased that we received a "green light" or "go forth" letter from the SBA inviting us to continue our application process for our third SBIC license. Obtaining our third SBIC license and the related expanded capacity for additional SBIC debentures has been one of our key strategic focus areas for the last few years, and we believe that having the ability to access the incremental SBA debentures will significantly benefit our capital structure and enable us to maintain our long-term focus on growing our lower middle market portfolio."

For earnings history and earnings-related data on Main Street Capital (MAIN) click here.

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