Core Insights - MSC Income Fund, Inc. reported a net investment income of $16.8 million, or $0.38 per share, for the first quarter of 2025, reflecting a 15% increase from the previous year [4][7][8] - The Fund's net asset value as of March 31, 2025, was $718.9 million, or $15.35 per share, showing a slight decrease from the previous quarter [8][28] - The Fund declared a total dividend of $0.36 per share for the first quarter, which includes a regular quarterly dividend of $0.35 and a supplemental dividend of $0.01 [8] Financial Performance - Total investment income for the first quarter of 2025 was $33.2 million, a decrease of 2% from $33.9 million in the same period of 2024 [4][8] - Interest income decreased by 6% to $27.4 million, while dividend income increased by 108% to $5.1 million [4][8] - Total expenses decreased by 15.3% to $16.4 million, primarily due to a reduction in incentive fees and interest expenses [5][8] Operational Highlights - The Fund achieved a return on equity of just under 10% for the quarter [3] - The net increase in net assets resulting from operations was $15.9 million, a 50% increase compared to the first quarter of 2024 [8][10] - The Fund's liquidity as of March 31, 2025, was $163.5 million, including $39.5 million in cash and cash equivalents [12] Investment Portfolio - As of March 31, 2025, the Fund's private loan portfolio had a fair value of $767.8 million, while the lower middle market (LMM) portfolio was valued at $439.7 million [15][18] - The Fund's investment portfolio consisted of approximately 61% private loans, 35% LMM, and 2% middle market investments [18] - The weighted-average annual effective yield for the private loan portfolio was 11.6%, while for the LMM portfolio, it was 13.1% [15][16] Capital Structure - The Fund completed a follow-on equity offering in January 2025, generating net proceeds of $90.5 million, enhancing its liquidity and leverage capacity [13][14] - The Fund's debt-to-equity ratio was 0.79x as of March 31, 2025, reflecting a decline from target leverage levels due to the equity offering [17][18] - The Fund's credit facilities included a Corporate Facility with total commitments of $245 million and a SPV Facility with total commitments of $300 million [17]

Company Overview - MSC Income Fund, Inc. is a principal investment firm that primarily provides debt capital to private companies owned by or in the process of being acquired by private equity funds [5] - The company's portfolio investments support leveraged buyouts, recapitalizations, growth financings, refinancings, and acquisitions across diverse industry sectors [5] - The company primarily invests in secured debt investments and maintains a portfolio of customized long-term debt and equity investments in lower middle market companies [5] Dividend Announcement - The Board of Directors declared a regular quarterly cash dividend of $0.35 per share, payable on August 1, 2025 [1][2] - A supplemental quarterly cash dividend of $0.01 per share was also declared, to be paid from the company's undistributed taxable income as of March 31, 2025 [2][3] - The record date for both dividends is June 30, 2025 [2] Dividend Reinvestment Plan - The company offers a dividend reinvestment plan (DRIP) that allows registered stockholders to reinvest dividends in additional shares of common stock unless they opt out [4] - If stockholders opt out of the DRIP, they will receive cash distributions instead [4] Tax Attributes of Dividends - The final determination of the tax attributes for dividends is made after the close of the tax year, with expectations for 2025 dividends to include a combination of ordinary taxable income, qualified dividends, capital gains, and return of capital [3]

1Q'25 Results Presentation May 8, 2025 Disclaimer Safe Harbor Statement This presentation contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its office ...

Core Viewpoint - Studio City International Holdings Limited reported a year-over-year increase in total operating revenues for Q1 2025, driven by improved gaming and non-gaming operations, despite a net loss attributable to the company. Financial Performance - Total operating revenues for Q1 2025 were US$161.7 million, up from US$150.2 million in Q1 2024, reflecting a growth of approximately 11.0% [2] - Studio City Casino generated gross gaming revenues of US$336.2 million in Q1 2025, compared to US$318.4 million in Q1 2024, marking an increase of about 5.5% [2] - Revenue from casino contracts was US$75.9 million in Q1 2025, up from US$66.9 million in Q1 2024, indicating a growth of approximately 13.4% [5] - Total non-gaming revenues for Q1 2025 were US$85.8 million, compared to US$83.3 million in Q1 2024, showing an increase of about 3.0% [6] Gaming Operations - Mass market table games drop was US$923.9 million in Q1 2025, slightly up from US$923.3 million in Q1 2024, with a hold percentage of 32.8% in Q1 2025 compared to 29.5% in Q1 2024 [3] - Gaming machine handle for Q1 2025 was US$871.5 million, an increase from US$824.3 million in Q1 2024, with a win rate of 3.8% in Q1 2025 compared to 3.2% in Q1 2024 [3] Operating Income and Loss - Operating income for Q1 2025 was US$15.3 million, down from US$16.1 million in Q1 2024 [7] - Adjusted EBITDA for Q1 2025 was US$69.9 million, compared to US$66.2 million in Q1 2024, reflecting an increase of approximately 4.0% [7] - Net loss attributable to Studio City for Q1 2025 was US$16.0 million, or US$0.08 per ADS, compared to a net loss of US$14.6 million, or US$0.08 per ADS, in Q1 2024 [8] Non-Operating Expenses - Total net non-operating expenses for Q1 2025 were US$30.8 million, primarily due to interest expenses of US$32.5 million, partially offset by net foreign exchange gains of US$2.0 million [9] Financial Position - Total cash and bank balances as of March 31, 2025, were US$98.0 million, down from US$127.8 million as of December 31, 2024 [12] - Total debt at the end of Q1 2025 remained stable at US$2.16 billion [12] - Capital expenditures for Q1 2025 were US$16.1 million [12] Room and Gaming Statistics - Average daily rate for rooms was US$169 in Q1 2025, up from US$159 in Q1 2024 [29] - Occupancy per available room was 99% in Q1 2025, compared to 96% in Q1 2024 [29] - Average number of table games increased to 253 in Q1 2025 from 246 in Q1 2024 [29]

Core Insights - AccuStem Sciences, Inc. and EmeritusDX are expanding their strategic partnership to commercialize the MSC test for lung cancer screening, aiming to improve accuracy in lung nodule stratification and reduce healthcare costs [1][3] - The MSC test analyzes 24 microRNAs to differentiate between high- and low-risk lung nodules, facilitating earlier patient care and potentially minimizing unnecessary procedures [2] - The operational deployment of the MSC test is planned for launch in US clinics in 2026, with both companies pursuing reimbursement strategies to enhance access for the 1.6 million patients diagnosed annually with lung nodules in the US [3] Company Overview - AccuStem is focused on optimizing outcomes and quality of life for cancer patients through proprietary molecular testing that addresses unmet clinical needs from screening to treatment [5] - EmeritusDX specializes in delivering actionable clinical information and operates a world-class laboratory that supports cancer diagnosis and treatment [7] Leadership Statements - Wendy Blosser, CEO of AccuStem, emphasized the significance of the MSC test in lung cancer screening technology and the potential for impactful diagnostic solutions [4] - Robert Embree, CEO of EmeritusDX, expressed excitement about the collaboration and the commitment to expanding access to innovative diagnostics for cancer patients [4]

Core Insights - Gauzy Ltd. has unveiled its smart glass facade at the new MSC Terminal in Miami, which is the largest and most technologically advanced cruise ship terminal globally, showcasing the company's leadership in light and vision control technologies [3][9] - The smart glass covers 75% of the terminal's facade, integrating over 11,000 square feet (1,100 square meters) of polymer dispersed liquid crystal (PDLC) film, allowing for a dynamic display that transforms from transparent during the day to an artistic digital display at night [4][6] - The project is expected to reach an audience of over 30 million people annually, with an estimated 36,000 daily visitors and visibility to 42,000 passing vehicles [1][3] Market Opportunities - The global addressable market for smart glass in buildings is valued at $44 billion, with the facade glass market projected to grow to $412.16 billion by 2032 and the transparent display market expected to reach $38.28 billion by 2032 [7] - Gauzy's smart glass technology not only fulfills public art requirements for major developments but also positions the company to capitalize on the growing demand for innovative building materials, particularly in fast-growing markets like Miami [6][8] Strategic Partnerships - The collaboration with MSC and Fincantieri Infrastructure highlights Gauzy's commitment to innovative and sustainable building solutions, enhancing the travel experience through technology [5][9] - This project marks Fincantieri's first U.S.-based project, indicating a significant partnership that could lead to further opportunities in the cruise industry [6]

Core Insights - MSC Income Fund, Inc. reported significant activity in its private loan portfolio during Q1 2025, with new or increased commitments totaling $135.9 million and total investments funded amounting to $137.5 million [1][2] Private Loan Portfolio Overview - As of March 31, 2025, the private loan portfolio had total investments at cost of approximately $790.0 million across 84 unique companies, with 93.5% invested in first lien debt and 6.5% in equity or other securities [2] Company Profile - MSC Income is a principal investment firm that primarily provides debt capital to private companies, focusing on leveraged buyouts, recapitalizations, growth financings, refinancings, and acquisitions across diverse industry sectors [3] - The company partners with private equity fund sponsors and primarily invests in secured debt investments, maintaining a portfolio of customized long-term debt and equity investments in lower middle market companies [3] - Portfolio companies generally have annual revenues between $25 million and $500 million, while lower middle market portfolio companies have annual revenues between $10 million and $150 million [3] Recent Investment Highlights - Notable investments in Q1 2025 include: - $27.0 million in a first lien senior secured loan to a designer and manufacturer of electrical power distribution solutions [4] - Increased investment of $28.8 million in a first lien senior secured loan to a manufacturer of chemicals and lubricant additives [4] - Increased investment of $17.9 million in a first lien senior secured loan to a provider of maintenance, repair, and operations services for the private aviation industry [4] - $12.5 million in a first lien senior secured loan to a developer of midstream gas infrastructure [4] - $6.0 million in a first lien senior secured loan to a manufacturer of gravity flow shelving solutions [4]

Core Viewpoint - MSC Industrial Direct Company, Inc. reported a decline in earnings and revenues for the second quarter of fiscal 2025, indicating challenges in the current market environment [1][4][5]. Financial Performance - The adjusted earnings per share (EPS) for the second quarter was 72 cents, surpassing the Zacks Consensus Estimate of 68 cents, but down 39% year over year [1][2]. - Total revenues for the quarter were approximately $892 million, a decrease of 4.7% from $935 million in the same quarter last year, and below the Zacks Consensus Estimate of $899 million [4]. - The cost of goods sold decreased by 3.7% year over year to $526 million, while gross profit fell by 3.7% to $365 million, resulting in a gross margin of 41%, slightly down from 41.5% in the prior year [5]. Operating Metrics - Operating expenses increased by 3.5% year over year to $301.6 million, leading to an adjusted operating income of $64 million, which is a decline of 34.9% from the previous year [5]. - The adjusted operating margin was reported at 7.1%, down from 10.5% in the prior year [5]. Cash and Debt Position - At the end of the fiscal second quarter, the company had cash and cash equivalents of $41.3 million, up from $30 million at the end of fiscal 2024 [6]. - The long-term debt increased to $305 million from $279 million at the end of fiscal 2024 [6]. Future Guidance - For the third quarter of fiscal 2025, the company expects average daily sales to decline by 2% or remain flat compared to the same quarter last year, with an adjusted operating margin projected between 8.7% and 9.3% [7]. Stock Performance - Over the past year, the company's shares have decreased by 22.2%, compared to a 19.1% decline in the industry [8].

Group 1 - The company MSC Industrial Direct Co., Inc. (NYSE: MSM) was reaffirmed as a "hold" candidate due to relatively weak financial results in June 2024 [1] - Crude Value Insights focuses on cash flow and companies that generate it, highlighting value and growth prospects in the oil and natural gas sector [1] Group 2 - Subscribers to Crude Value Insights benefit from a 50+ stock model account and in-depth cash flow analyses of exploration and production (E&P) firms [2] - The service includes live chat discussions about the oil and gas sector, enhancing community engagement and information sharing [2]

Core Viewpoint - MSC Industrial Direct Co., Inc. (MSM) is expected to report a decline in revenues and earnings for the second quarter of fiscal 2025, with a consensus estimate of $900.9 million in revenues and earnings per share of 68 cents, reflecting year-over-year declines of 3.7% and 42.4% respectively [2]. Financial Performance - The Zacks Consensus Estimate for MSM's fiscal second-quarter revenues is $900.9 million, indicating a year-over-year decline of 3.7% [2]. - The estimate for earnings per share is 68 cents, implying a year-over-year plunge of 42.4% [2]. - MSM's earnings surprise history shows that the company beat the Zacks Consensus Estimate in two of the last four quarters, matched in one, and missed in one, with an average earnings surprise of 3.5% [3][4]. Earnings Prediction - The Zacks model predicts an earnings beat for MSM this season, supported by a positive Earnings ESP of +2.61% and a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [5]. Industry Context - Approximately 70% of MSC Industrial's revenues are derived from the manufacturing sector, which saw a 0.7% increase in industrial production in February 2025, following increases of 1.1% and 0.3% in the previous months [6]. - The Institute for Supply Management's manufacturing index expanded in January and February 2025, with readings of 50.9% and 50.3%, respectively, after being in contraction for 26 months [7]. - However, the New Orders Index showed contraction at 48.6% in February, down from 55.1% in January, indicating a significant decline in new orders due to tariff uncertainties [8]. Operational Insights - MSM projected an operating margin in the range of 6.5-7.5%, down from an adjusted operating margin of 10.5% in the same quarter last year, primarily due to higher operating and personnel-related expenses [10]. - The company indicated that average daily sales growth in December was negatively impacted by holiday and fiscal calendar timing, with a guidance of a 3-5% decline in average daily sales for the second quarter [9]. Stock Performance - Over the past year, MSM's shares have decreased by 17.7%, compared to a 14.8% decline in the industry [11].