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New Mountain Finance (NMFC) Tops Q1 EPS by 19c

May 5, 2021 5:42 PM EDT

New Mountain Finance (NASDAQ: NMFC) reported Q1 EPS of $0.49, $0.19 better than the analyst estimate of $0.30.

Robert A. Hamwee, CEO, commented: “Our portfolio continued to perform well through Q1, as evidenced by 85% of our companies maintaining the green rating, as well as ongoing book value recovery, which improved an additional $0.23 to $12.85. Additionally, Moody’s has assigned NMFC an investment grade rating of Baa3 in May, which reflects our successful track record, extensive firm resources, and experienced management team.”

John R. Kline, President and COO, commented: “We are pleased to announce again a second quarter distribution of $0.30 per share payable on June 30, 2021 to holders of record as of June 16, 2021. With the continued support of our Investment Adviser, we are committed to paying quarterly dividends of at least $0.30 over the next seven quarters as we expect our positive performance will continue.”

“We believe New Mountain’s strategy of focusing on 'defensive growth' industries and on companies that we know well continues to prove to be a successful strategy,” added Steven B. Klinsky, NMFC Chairman. “We have had good news on a number of fronts this quarter, and we believe one of our keys to success is the strength of the team, which we continue to build over time, now at over 175 employees.”

For earnings history and earnings-related data on New Mountain Finance (NMFC) click here.



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