New Mountain Finance Corporation Posts 25% Q3 Income Decline

New Mountain Finance Corporation’s total investment income fell to $60.414 million for the quarter ended Sept. 30, about 25% below the $80.529 million recorded in the same period a year earlier. The year-over-year decrease was $20.115 million.

Net investment income was $23.693 million, down from $34.042 million a year earlier. GAAP diluted earnings per share were $0.04, compared with $0.11. Those figures show declines in both the company’s net investment income and its GAAP per-share result from the prior-year quarter.

Adjusted net investment income totaled $24.1 million, or $0.26 per weighted average share. The company’s adjusted measure excludes $0.6 million in accelerated deferred financing costs. The $0.26 figure is adjusted net investment income per share; GAAP diluted earnings per share were reported separately at $0.04.

The company declared a fourth-quarter distribution of $0.25 per share. It is payable Dec. 31 to shareholders of record Dec. 17. The declaration sets both the per-share amount and the dates associated with the upcoming payment.

Net asset value was $10.67 per share at Sept. 30, compared with $10.89 at June 30, a decrease of 22 cents. The investment portfolio’s fair value was $2.2657 billion at the end of September, down from $2.2955 billion three months earlier, a decline of $29.8 million.

New Mountain Finance focuses on direct lending to U.S. upper-middle-market companies as a business development company. CEO John R. Kline said the company aims to reinvest proceeds into first-lien, cash-paying assets to improve portfolio diversification and income quality. The stated objective connects reinvestment with the composition of the portfolio and the quality of income.

The results cover the quarter ended Sept. 30, 2026. New Mountain Finance issued its results Nov. 2 and scheduled an earnings call for Tuesday, Nov. 3, at 10 a.m. ET (3 p.m. UTC).