Financial Performance - Net Investment Income (NII) for Q3 2024 was $6.5 million, or $0.30 per share, a slight decrease from $6.6 million, or $0.30 per share in Q2 2024[1][8] - Adjusted Net Investment Income for Q3 2024 totaled $6.6 million, or $0.31 per share, down from $6.7 million, or $0.31 per share in Q2 2024[2][8] - Total investment income for Q3 2024 was $15.7 million, slightly up from $15.6 million in Q2 2024, primarily due to increased fee income[9] - Total investment income increased slightly to $15,695,000 from $15,627,000, marking an increase of about 0.4%[25] - The company reported a net realized gain of $638,000 from non-controlled/non-affiliate company investments, compared to a gain of $506,000 in the previous quarter[25] Asset and Liability Management - Net Asset Value (NAV) decreased by 0.2% to $198.9 million, or $9.18 per share, compared to $199.3 million, or $9.20 per share in Q2 2024[2][4] - Total assets decreased to $501,862,000 as of September 30, 2024, from $512,113,000 on June 30, 2024, representing a decline of approximately 2.5%[23] - Total liabilities decreased to $302,969,000 from $312,769,000, a reduction of approximately 3.1%[23] - The debt-to-equity leverage ratio improved from 1.54 times in Q2 2024 to 1.50 times in Q3 2024 due to paydowns of the revolving credit facility[3] Cash and Investments - As of September 30, 2024, the Company had $4.1 million in cash and cash equivalents and $169.0 million of debt outstanding on its revolving credit facility[13] - The company’s cash and cash equivalents increased to $4,070,000 from $3,876,000, an increase of about 5%[23] - The portfolio consisted of 94 companies with a total fair value of $474.3 million, down from $485.8 million in Q2 2024, with first lien loans representing 80.0% of the portfolio[7] - Total investments at fair value amounted to $474,259,000, down from $485,804,000, a decrease of about 2.5%[23] Expenses and Losses - Total expenses for Q3 2024 were $9.2 million, compared to $9.1 million in Q2 2024, with a decrease in expenses when excluding incentive fee limitations[10] - The Company had a net loss of $(1.5) million for Q3 2024, an improvement from $(3.3) million in Q2 2024, mainly due to unrealized losses from certain portfolio companies[11] - Interest and other debt financing expenses totaled $5,517,000, down from $5,780,000, a decrease of approximately 4.6%[27] Dividends - The Company paid a quarterly dividend of $0.25 per share, marking the 18th consecutive quarter of dividends[1][2]
Monroe Capital(MRCC) - 2024 Q3 - Quarterly Results