Q3 2026 Sound Point Meridian Capital Inc Earnings Call Transcript

Feb 11, 2026 / 04:00 PM GMT

Release Date Price: $11.5 (-10.58%)

Transcript

Key Points

Positve

Sound Point Meridian Capital Inc (SPMC) generated net investment income of $9 million or $0.44 per share for the third fiscal quarter.
The company deployed approximately $6.8 million in two warehouse investments and purchased new equity positions with attractive yields.
SPMC's portfolio remains highly diversified with 97 CLOs across 30 managers, providing exposure to over 1,500 loan issuers spanning over 30 industries.
The company announced monthly distributions for calendar Q2 2026 of $0.20 per share, reflecting a proactive approach to maintaining balance sheet flexibility.
SPMC's CLO equity investments have significant refinancing optionality in 2026, which may offset the effect of loan yield compression.

Negative

Net asset value (NAV) per share declined to $14.02 from $16.91, primarily due to market pressure in CLO equity valuations.
The company recorded a net realized loss of $1.1 million and an unrealized loss on investments of $51.8 million for the quarter.
The weighted average GAAP yield of the CLO equity portfolio decreased to 11.0% from 12.0% in the prior quarter.
Loan spread compression and elevated liability costs have negatively impacted net investment income relative to common distributions.
The company's outstanding debt totaled 39% of total assets, indicating a significant leverage position.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SPMC.N - Sound Point Meridian Capital Inc
Q3 2026 Sound Point Meridian Capital Inc Earnings Call
Feb 11, 2026 / 04:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, ladies and gentlemen, and welcome to the Sound Point Meridian Capital Inc. Third fiscal quarter ended in December 31, 2025. At this time, all lines are in decent only mode. Following the presentation, we'll conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press 0 for the operator. This call is being recorded on Wednesday, February 11, 2026.

I would now like to turn the conference over to Julie Smith, head of investor relations. Please go ahead.

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Unidentified_2 [2]
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