Bain Capital Specialty Finance, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 04:34 pm EST
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Bain Capital Specialty Finance, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 72.39 million compared to USD 58.81 million a year ago. Net income was USD 33.86 million compared to USD 11.05 million a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to USD 0.17 a year ago.
For the nine months, revenue was USD 222.84 million compared to USD 157.18 million a year ago. Net income was USD 92.31 million compared to USD 61.96 million a year ago. Basic earnings per share from continuing operations was USD 1.43 compared to USD 0.96 a year ago.
Bain Capital Specialty Finance, Inc. is an externally managed specialty finance company focused on lending to middle market companies. The Company's investment objective is to generate current income and, to a lesser extent, capital appreciation through direct originations of secured debt, including first lien, first lien/last out, unitranche and second lien debt, investments in strategic joint ventures, equity investments and, to a lesser extent, corporate bonds. Its primary focus is capitalizing on opportunities within Bain Capital Creditâs Senior Direct Lending Strategy, which seeks to provide risk-adjusted returns and current income to investors by investing in middle-market companies with between $10 million and $150 million in annual earnings before interest, taxes, depreciation and amortization. It is focused on senior investments with a first or second lien on collateral and strong structures and documentation intended to protect the lender. It is managed by BCSF Advisors, LP.
BAIN CAPITAL SPECIALTY FINANCE, INC. 
