New Mountain: 2Q Earnings Snapshot
NEW YORK (AP) _ New Mountain Finance Corp. (NMFC) on Tuesday reported second-quarter net income of $23.1 million.
The New York-based company said it had profit of 29 cents per share. Earnings, adjusted for investment costs, came to 34 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The business development company posted revenue of $54.6 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $53.1 million.
New Mountain shares have increased slightly more than 4 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.15, a fall of 1 percent in the last 12 months.