Track market-moving stories before they get noisy

Announces Second Quarter 2026 Earnings Release and Conference Call Schedule

, /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street" or the "Company") is pleased to announce its preliminary operating results for the second quarter of 2026 and its second quarter 2026 earnings release and conference call schedule.

In commenting on the Company's preliminary operating results for the second quarter of 2026, Dwayne L. Hyzak, Main Street's Chief Executive Officer, stated, "We are very pleased with our performance in the second quarter, which resulted in another strong quarter of operating results, including favorable distributable net investment income before taxes and an increase to our net asset value per share for the sixteenth consecutive quarter. The increase in net asset value per share was primarily driven by significant net fair value appreciation on our lower middle market and private loan investment portfolios, including the benefit of another material realized gain in our lower middle market portfolio. Our strong second quarter results are highlighted by a favorable estimated return on equity of over 18% for the quarter. We look forward to sharing the full details of our second quarter 2026 results in a few weeks."

Preliminary Estimates of Second Quarter 2026 Results

Main Street's preliminary estimate of second quarter 2026 net investment income ("NII") is $0.95 to $0.99 per share, distributable net investment income ("DNII")(1) is $1.02 to $1.06 per share and DNII before taxes(2) is $1.06 to $1.10 per share.

Main Street's preliminary estimate of net asset value ("NAV") per share as of June 30, 2026 is $33.88 to $33.96, representing an increase of $0.42 to $0.50 per share, or 1.2% to 1.5%, from the NAV per share of $33.46 as of March 31, 2026, with this increase after the impact of the supplemental dividend paid in June 2026 of $0.30 per share. The estimated NAV per share increase is primarily due to the net fair value appreciation on the investment portfolio and the accretive impact of equity issuances, partially offset by a decrease due to the issuance of restricted stock, the total dividends per share paid in the second quarter in excess of NII per share and the net tax provision. The net fair value appreciation on the investment portfolio is primarily the result of net fair value appreciation on the lower middle market ("LMM") investment portfolio, private loan investment portfolio and other portfolio investments, partially offset by fair value depreciation of the wholly-owned external investment manager.

As a result of Main Street's preliminary estimates of NII, net fair value appreciation and the net tax provision as noted above, Main Street estimates that it generated an annualized return on equity of over 18% for the second quarter.(3)

Main Street preliminarily estimates that investments on non-accrual status comprised 1.1% of the total investment portfolio at fair value and 4.0% at cost as of June 30, 2026.

Investment Portfolio Activity

The Company's second quarter 2026 operating activities include the following investment activity in the LMM and private loan investment strategies:

$95.7 million in total LMM portfolio investments, which after aggregate repayments and return of invested equity capital resulted in a net decrease of $30.6 million in the total cost basis of the LMM investment portfolio; and $238.9 million in total private loan portfolio investments, which after aggregate repayments, return of invested equity capital and a decrease in cost basis due to a realized loss resulted in a net increase of $60.2 million in the total cost basis of the private loan investment portfolio. Second Quarter 2026 Earnings Release and Conference Call Schedule

Main Street will release its second quarter 2026 results on Thursday, August 6, 2026, after the financial markets close. In conjunction with the release, Main Street has scheduled a conference call, which will be broadcast live via phone and over the Internet, on Friday, August 7, 2026, at 10:00 a.m. Eastern time. Investors may participate either by phone or audio webcast.(4)

By Phone:

Dial 412-902-0030 at least 10 minutes before the call. A replay will be available through August 14, 2026 by dialing 201-612-7415 and using the access code 13761583#.

By Webcast:

Connect to the webcast via the Investor Relations section of Main Street's website at www.mainstcapital.com. Please log in at least 10 minutes in advance to register and download any necessary software. A replay of the conference call will be available on Main Street's website shortly after the call and will be accessible until the date of Main Street's earnings release for the next quarter.

ABOUT MAIN STREET CAPITAL CORPORATION

Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides customized "one-stop" debt and equity financing solutions within its lower middle market investment strategy. Main Street seeks to partner with private equity fund sponsors and primarily invests in secured debt investments in its private loan investment strategy. Main Street's lower middle market portfolio companies generally have annual revenues between $10 million and $150 million. Main Street's private loan portfolio companies generally have annual revenues between $25 million and $500 million.

Main Street, through its wholly-owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.

FORWARD-LOOKING STATEMENTS AND OTHER MATTERS

Main Street cautions that statements in this press release which are forward-looking and provide other than historical information, including but not limited to the preliminary estimates of second quarter 2026 financial information and results, are based on current conditions and information available to Main Street as of the date hereof. Although its management believes that the expectations reflected in those forward-looking statements are reasonable, Main Street can give no assurance that those expectations will prove to be correct. Those forward-looking statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including, without limitation, such factors described under the captions "Cautionary Statement Concerning Forward-Looking Statements" and "Risk Factors" included in Main Street's filings with the U.S. Securities and Exchange Commission (the "SEC") (www.sec.gov). Main Street undertakes no obligation to update the information contained herein to reflect subsequently occurring events or circumstances, except as required by applicable securities laws and regulations.

The preliminary estimates of second quarter 2026 financial information and results furnished above are based on Main Street management's preliminary determinations and current expectations, and such information is inherently uncertain. The preliminary estimates provided herein have been prepared by, and are the responsibility of, management and are subject to completion of Main Street's customary quarter-end closing and review procedures and third-party review, including the determination of the fair value of Main Street's portfolio investments. As a result, actual results could differ materially from the current preliminary estimates based on adjustments made during Main Street's quarter-end closing and review procedures and third-party review, and Main Street's reported information in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 may differ from this information, and any such differences may be material. In addition, the information furnished above does not include all of the information regarding Main Street's financial condition and results of operations for the quarter ended June 30, 2026 that may be important to readers. As a result, readers are cautioned not to place undue reliance on the information furnished in this press release and should view this information in the context of Main Street's full second quarter 2026 results when such results are disclosed by Main Street in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. The information furnished in this press release is based on Main Street management's current expectations that involve substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such information.

Main Street has an existing effective Registration Statement on Form N-2 on file with the SEC relating to the offer and sale from time to time of its securities. Investors are advised to carefully consider the investment objective, risks and charges and expenses of Main Street before investing in any of Main Street's securities. The prospectus included in the Registration Statement on Form N-2, together with any related prospectus supplement, contain this and other information about Main Street and should be read carefully before investing. A copy of the prospectus and any related prospectus supplement may be obtained by contacting Main Street.

Endnotes

(1) DNII is NII as determined in accordance with U.S. Generally Accepted Accounting Principles, or U.S. GAAP, excluding the impact of non-cash compensation expenses, which includes both share-based compensation expenses and deferred compensation expense or benefit. Main Street believes presenting DNII per share is useful and appropriate supplemental disclosure for analyzing its financial performance since (i) share-based compensation does not require settlement in cash and (ii) deferred compensation expense or benefit does not result in a net cash impact to Main Street upon settlement. However, DNII is a non-U.S. GAAP measure and should not be considered as a replacement for NII or other earnings measures presented in accordance with U.S. GAAP. Instead, DNII should be reviewed only in connection with such U.S. GAAP measures in analyzing Main Street's financial performance. In order to reconcile estimated DNII per share to estimated NII per share in accordance with U.S. GAAP for the second quarter of 2026, an estimated $0.07 to $0.08 per share of non-cash compensation expenses are added back to estimated NII per share to calculate estimated DNII per share.

(2) DNII before taxes is NII as determined in accordance with U.S. GAAP, excluding the impact of non-cash compensation expenses, which includes both share-based compensation expenses and deferred compensation expense or benefit, and any tax expenses included in NII. Main Street believes presenting DNII before taxes per share is useful and appropriate supplemental disclosure for analyzing its financial performance since (i) share-based compensation does not require settlement in cash, (ii) deferred compensation expense or benefit does not result in a net cash impact to Main Street upon settlement and (iii) tax expenses included in NII may include (a) excise tax expense, which is not solely attributable to NII, and (b) deferred taxes, which are not payable in the current period. However, DNII before taxes is a non-U.S. GAAP measure and should not be considered as a replacement for NII, NII before taxes or other earnings measures presented in accordance with U.S. GAAP. Instead, DNII before taxes should be reviewed only in connection with such U.S. GAAP measures in analyzing Main Street's financial performance. In order to reconcile estimated DNII before taxes per share to estimated NII per share in accordance with U.S. GAAP for the second quarter of 2026, an estimated $0.07 to $0.08 per share of non-cash compensation expenses and an estimated $0.04 per share of NII related tax expenses are added back to estimated NII per share to calculate estimated DNII before taxes per share.

(3) Return on equity equals the net increase in net assets resulting from operations divided by the average quarterly total net assets.

(4) No information contained on the Company's website or disclosed on the August 7, 2026 conference call, including the webcast and the archived versions, is incorporated by reference in this press release or any of the Company's filings with the SEC, and you should not consider that information to be part of this press release or any other such filing.

Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, [email protected]
Ryan R. Nelson, CFO, [email protected]
713-350-6000

Dennard Lascar Investor Relations
Ken Dennard / [email protected]
Zach Vaughan / [email protected]
713-529-6600

SOURCE Main Street Capital Corporation

With the Federal Reserve’s benchmark funds rate parked at 3.75% since Dec. 11, 2025, and the 10-year Treasury offering just 4.38%, income investors entering July are still hunting for yield well above the risk-free rate. Business development companies remain one of the cleanest ways to get it. BDCs are required to distribute at least 90% of taxable income to maintain their pass-through tax status, which forces consistent payouts but also makes their distributions vulnerable in credit downturns. With Q1 2026 results now in hand for all three names below, here is where the risk/reward looks most defensible heading into July.

Ares Capital (ARCC) Ares Capital (NASDAQ:ARCC | ARCC Price Prediction) is the scale play. At a $18.70 share price against ARCC’s reported Q1 NAV of $19.59, the stock trades at a modest discount to book. Market cap sits near $13.43 billion, making it the largest publicly traded BDC.

The income story is straightforward. ARCC paid a 48-cent quarterly dividend on June 30, the same rate it has held since at least Q1 2024, and well above the 40-to-42-cent range it paid during 2020 to 2021. Core EPS of 47 cents covered the payout. The weighted average yield on debt investments was 10% at amortized cost, with 91% of new commitments in floating rate paper and 95% carrying rate floors. CEO Kort Schnabel pointed to “improving lending conditions with enhanced spreads and fees, lower leverage” on the Q1 call.

Bull case: Scale, a diversified portfolio, roughly $6 billion in available liquidity, and a well-covered dividend through a softer rate cycle.

Risk: Q1 carried $412 million in net unrealized losses, NAV slipped from $19.94, and non-accruals ticked up to 2% at amortized cost. GAAP EPS came in at just 13 cents. The stock is down more than 16% over the past year.

Main Street Capital (MAIN) Main Street Capital (NYSE:MAIN) is the quality compounder of the group. Shares trade at $52.46, a premium to Q1 NAV of $33.46, which is the market’s verdict on internal management, cost discipline and a dividend record that has never been cut since the 2007 IPO.

MAIN’s payout stack is what separates it. The company paid 26 cents monthly across April, May, and June 2026, then layered a 30-cent supplemental on June 30, marking the 19th consecutive quarterly supplemental. The regular monthly dividend is up 4% year over year, and the regular monthly component has grown from 20 cents in 2020 to 26 cents today. Q1 distributable net investment income of $1 per share just missed the $1.01 estimate, but NAV still climbed from $33.33 at year-end 2025, aided by an $18.0 million net realized gain.

Bull case: Monthly base plus quarterly supplementals, internally managed structure with a 1% operating expenses to assets ratio, a growing $1.8 billion external AUM business, and FY25 ROE of 17%.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Ares Capital didn't make the cut. Grab the names FREE today.

Risk: Q1 revenue fell 18% year over year to $140.1 million, a $32.6 million net fair value decrease was recorded, and management flagged tariff and macro risk. The stock is down 11% year to date.

Trinity Capital (TRIN) Trinity Capital (NASDAQ:TRIN) is the high-yield, higher-risk leg of this basket. The venture and growth-stage lender trades at $17.78, a premium to Q1 NAV of $13.27 and has rallied more than 18% year to date and over 25% in the past year.

TRIN transitioned from quarterly to monthly distributions in January, and pays 17 cents per share each month, locked in through at least September via the June 17, declaration. That works out to roughly 51 cents per quarter, the 26th consecutive quarter at that level. The effective yield on average debt investments hit 16%, the highest of the three. Q1 NII of $44.49 million grew 37% year over year and covered the dividend at 104% of NII per share, with a $68.50 million undistributed income buffer behind it.

Bull case: Highest portfolio yield in the group, a $2.48 billion portfolio across 180 companies, 83% floating rate debt, and a managed funds platform that pushed fee income to $6.8 million from $2.7 million a year ago.

Risk: NAV slid from $13.42, Q1 logged $9.9 million in net realized losses, the weighted average risk rating ticked up to 3.0 from 2.9, and ATM share issuance of $78.4 million adds dilution risk. Venture lending also tends to crack first in credit downturns.

What to Watch in July The setup for July is favorable on the surface: The Fed has cut 75 basis points over the past year and the 10-year sits at a 77th percentile rank within its 12-month range, which keeps spreads attractive on floating-rate paper. Watch non-accrual trends and NAV direction in the next round of earnings reports. Any meaningful uptick in credit stress is the single variable that turns a 10% to 15% headline yield into a dividend cut.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Ares Capital didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

Generates $46.4 Million Realized Gain from Exit of Equity Investment in Centre Technologies Holdings, LLC

, /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently exited its debt investments and equity investment in Centre Technologies Holdings, LLC ("Centre" or the "Company") upon the completion of a majority recapitalization with a new financial sponsor. Founded in 2006 and headquartered in Houston, Texas, Centre is a provider of information technology (IT) services, including managed services, cloud solutions, cyber security, IT consulting and business intelligence (BI) services to lower and middle market businesses, often serving as a fully outsourced IT department.  

Main Street partnered with Centre's existing owners and senior management team in January 2019 to facilitate a minority recapitalization of the Company and provide growth capital to help facilitate the Company's acquisition growth strategy. Main Street's initial investment consisted of a $2.4 million revolving line of credit, a $12.2 million first lien, senior secured term loan and a $5.8 million direct equity investment. After Main Street's initial investment, Centre completed seven follow-on acquisitions with Main Street funding an additional cumulative $27.7 million under the first lien, senior secured term loan facility and $0.5 million in direct equity investments to support the Company's acquisition strategy and other corporate activities, resulting in Main Street's total debt investments and total equity investments growing to $42.3 million and $6.4 million, respectively.

Main Street realized a gain of $46.4 million on the exit of its equity investment in Centre, including a minority equity ownership position in Centre's acquirer that Main Street received as part of the sale proceeds, with this realized value representing an increase of $6.8 million above Main Street's fair market value for this equity investment as of March 31, 2026. Main Street also received total dividends of $2.2 million over the life of its equity investment in the Company. As a result, on a cumulative basis since Main Street's initial investment in January 2019 and taking the realized gain, dividends and fees into consideration, Main Street realized an annual internal rate of return ("IRR") of 40.1% and an 8.8 times money invested ("TMI") return on its equity investment in Centre. On a cumulative basis including both Main Street's debt and equity investments in the Company, Main Street realized an IRR of 23.2% and a 2.4 TMI return.

ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides customized "one-stop" debt and equity financing solutions within its lower middle market investment strategy. Main Street seeks to partner with private equity fund sponsors and primarily invests in secured debt investments in its private loan investment strategy. Main Street's lower middle market portfolio companies generally have annual revenues between $10 million and $150 million. Main Street's private loan portfolio companies generally have annual revenues between $25 million and $500 million.

Main Street, through its wholly-owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.

Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, [email protected]
Ryan R. Nelson, CFO, [email protected]                 
713-350-6000

Dennard Lascar Investor Relations
Ken Dennard | [email protected]  
Zach Vaughan | [email protected]  
713-529-6600

SOURCE Main Street Capital Corporation