Bain Capital Specialty Finance, Inc. (NYSE:BCSF) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET

Company Participants

Katherine Schneider - IR

Michael Ewald - CEO

Sally Dornaus - CFO

Michael Boyle - President

Conference Call Participants

Ryan Lynch - KBW

Operator

Good day, and welcome to the Bain Capital Specialty Finance Second Quarter ended June 30, 2022, Earnings Conference Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Katherine Schneider, Investor Relations. Please go ahead.

Katherine Schneider

Thank you, Elaine. Good morning, everyone, and welcome to our Bain Capital Specialty Finance Q2 conference call. Yesterday after market closed, we issued our earnings press release and investor presentation of our quarterly results, a copy of which is available on Bain Capital Specialty Finance's Investor Relations website.

Following our remarks today, we will hold a question-and-answer session for analysts and investors. This call is being webcast, and a replay will be available on our website. This call and the webcast are property of Bain Capital Specialty Finance and any unauthorized broadcast in any form is strictly prohibited.

Any forward-looking statements made today do not guarantee future performance and actual results may differ materially. These statements are based on current management expectations, which include risks and uncertainties, which are identified in the Risk Factors section of our Form 10-Q that could cause actual results to differ materially from those indicated.

Bain Capital Specialty Finance assumes no obligation to update any forward-looking statements at this time unless required to do so by law. Lastly, past performance does not guarantee future results.

So with that, I'd like to turn the call over to our Chief Executive Officer, Michael Ewald.

Michael Ewald

Good morning, and thank you for dialing into our earnings call. I'm joined here today by Mike Boyle, President; and Chief Financial Officer, Sally Dornaus.

I'll start with an overview of our second quarter ended June 30, 2022, results and then provide some thoughts on our performance, the market environment and our positioning. Thereafter, Mike and Sally will discuss our investment portfolio and financial results in greater detail.

Yesterday, after market closed, we reported Q2 net investment income per share of $0.41, driven by higher levels of investment income earned across our portfolio investments during the quarter. Our Q2 net investment return represented a 9.6% annualized yield on book value and covered our dividend by 121%.