Exhibit 99.1
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NEWS RELEASE
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com
Ryan R. Nelson, CFO, rnelson@mainstcapital.com
713-350-6000
Dennard Lascar Investor Relations
Ken Dennard / ken@dennardlascar.com
Zach Vaughan / zvaughan@dennardlascar.com
713-529-6600
Main Street Announces Preliminary Estimate of Second Quarter 2026
Operating Results
Announces Second Quarter 2026 Earnings Release and Conference Call Schedule
HOUSTON – July 16, 2026Main 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.