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Monroe Capital(MRCC) - 2023 Q4 - Annual Results
2024-03-11 20:32
Exhibit 99.1 Monroe Capital Corporation BDC Announces Fourth Quarter and Full Year 2023 Results CHICAGO, IL, March 11, 2024 – Monroe Capital Corporation (Nasdaq: MRCC) ("Monroe") today announced its financial results for the fourth quarter and full year ended December 31, 2023. Except where the context suggests otherwise, the terms "Monroe," "we," "us," "our," and "Company" refer to Monroe Capital Corporation. Fourth Quarter 2023 Financial Highlights Full Year 2023 Financial Highlights Chief Executive Offic ...
Monroe Capital(MRCC) - 2023 Q3 - Earnings Call Transcript
2023-11-09 19:00
Financial Data and Key Metrics Changes - Adjusted net investment income was $5.5 million or $0.25 per share, down from $6.1 million or $0.28 per share in the prior quarter [10][28] - Net asset value (NAV) decreased to $207.6 million from $213.2 million, with NAV per share declining from $9.84 to $9.58 [12][47] - Debt-to-equity leverage increased from 1.54 times to 1.60 times, primarily due to the decrease in NAV [29][76] Business Line Data and Key Metrics Changes - The investment portfolio totaled $518.3 million, an increase of $2.9 million from $515.4 million [53] - Total investment income decreased to $15.6 million from $16.3 million in the previous quarter [56] - The portfolio had four investments on non-accrual status, representing 1.2% of the portfolio fair market value, a slight decrease from 1.3% [39] Market Data and Key Metrics Changes - Direct lending volumes in the sponsored middle market increased by 12% in the third quarter compared to the second quarter [49] - The average effective yield on the portfolio was approximately 12.5%, benefiting from the rising interest rate environment [60] Company Strategy and Development Direction - The company remains focused on capital preservation and emphasizes a defensive portfolio to navigate potential economic downturns [51][34] - The strategy includes maintaining a selective approach to new investment opportunities while capitalizing on attractive market fundamentals [48][50] Management's Comments on Operating Environment and Future Outlook - The management anticipates a combination of economic slowdown, higher long-term interest rates, and geopolitical uncertainty [7][30] - Despite challenges, the management expresses confidence in the portfolio's quality and its ability to adapt to economic headwinds [13][34] Other Important Information - The company reported a dividend yield of 14.3% as of November 7, 2023, marking the 14th consecutive quarter where net investment income met or exceeded the dividend [22][28] - The company has nominal exposure to highly cyclical industries, focusing predominantly on first lien senior secured loans [52][34] Q&A Session Summary Question: What is the outlook for the SLF given the decline in valuations? - Management expressed comfort with current leverage levels and does not anticipate the need for additional capital in the near term [62][75] Question: How has the rise in short-term interest rates affected fair value marks? - The rise in discount rates has affected yield calculations, but the impact this quarter was relatively flat due to considerable enterprise value coverage [76] Question: What is the timeframe for evaluating the IT Global receivable? - Management indicated that clarity around the IT Global receivable could emerge in the fourth quarter, potentially extending into the first quarter [66][78]
Monroe Capital(MRCC) - 2023 Q3 - Quarterly Report
2023-11-08 21:22
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 814-00866 MONROE CAPITAL CORPORATION (Exact Name of Registrant as Specified in its Charter) Maryland 27-4895840 (State or Other Jurisdiction of ...
Monroe Capital(MRCC) - 2023 Q2 - Earnings Call Transcript
2023-08-10 20:50
Monroe Capital (NASDAQ:MRCC) Q2 2023 Results Conference Call August 10, 2023 11:00 AM ET Company Participants Ted Koenig - Chief Executive Officer Mick Solimene - Chief Financial Officer & Chief Investment Officer Alex Parmacek - Deputy Portfolio Manager Conference Call Participants Christopher Nolan - Ladenburg Thalmann Operator Welcome to Monroe Capital Corporation's Second Quarter 2023 Earnings Conference Call. Before we begin, I would like to take a moment to remind our listeners that remarks made durin ...
Monroe Capital(MRCC) - 2023 Q2 - Quarterly Report
2023-08-09 21:22
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Commission file number: 814-00866 MONROE CAPITAL CORPORATION (Exact Name of Registrant as Specified in its Charter) Maryland 27-4895840 (State or Other Jurisdiction of Incorporation or Organization) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECUR ...
Monroe Capital(MRCC) - 2023 Q1 - Earnings Call Transcript
2023-05-11 17:50
Monroe Capital (NASDAQ:MRCC) Q1 2023 Earnings Conference Call May 11, 2023 11:00 AM ET Company Participants Ted Koenig - Chief Executive Officer Mick Solimene - Chief Financial Officer & Chief Investment Officer Alex Parmacek - Deputy Portfolio Manager Conference Call Participants Sean-Paul Adams - Raymond James Christopher Nolan - Ladenburg Thalmann. Bryce Rowe - B Riley Operator Welcome to Monroe Capital Corporation's First Quarter 2023 Earnings Conference Call. Before we begin, I'd like to take a momen ...
Monroe Capital(MRCC) - 2023 Q1 - Quarterly Report
2023-05-10 21:19
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 814-00866 MONROE CAPITAL CORPORATION (Exact Name of Registrant as Specified in its Charter) Maryland 27-4895840 (State or Other Jurisdiction of Inc ...
Monroe Capital(MRCC) - 2022 Q4 - Earnings Call Transcript
2023-03-02 19:38
Monroe Capital Corporation (NASDAQ:MRCC) Q4 2022 Earnings Conference Call March 2, 2023 11:00 AM ET Company Participants Theodore Koenig - Chairman, President and CEO Mick Solimene - CIO and CFO Conference Call Participants Kevin Fultz - JMP Securities Christopher Nolan - Ladenburg Thalmann Robert Dodd - Raymond James Bryce Rowe - B Riley FBR Operator Welcome to Monroe Capital Corporation's Fourth Quarter and Full Year 2022 Earnings Conference Call. Before we begin, I'd like to take a moment to remind our l ...
Monroe Capital(MRCC) - 2022 Q4 - Annual Report
2023-03-01 22:25
Portions of the registrant's definitive proxy statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A relating to the registrant's 2023 Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission within 120 days following the end of the Company's fiscal year, are incorporated by reference in Part III of this Annual Report on Form 10-K as indicated herein. | Large accelerated filer | ☐ | Accelerated filer | ☐ | | --- | --- | --- | --- | | Non-a ...
Monroe Capital(MRCC) - 2022 Q3 - Earnings Call Transcript
2022-11-09 01:46
Monroe Capital Corporation (NASDAQ:MRCC) Q3 2022 Earnings Conference Call November 8, 2022 3:00 PM ET Company Participants Theodore Koenig - Chairman, President & CEO Mick Solimene - Chief Investment Officer and CFO Conference Call Participants Kevin Fultz - JMP Securities Robert Dodd - Raymond James Christopher Nolan - Ladenburg Thalmann & Co. Bryce Rowe - B Riley FBR Operator Welcome to Monroe Capital Corporation's Third Quarter 2022 Earnings Conference Call. Before we begin, I would like to take a moment ...