Shares of New Mountain Finance Corporation (NMFC) surged 5.91% in after-hours trading on Tuesday, October 30th, following the release of the company's robust financial results for the third quarter of 2024.

The business development company reported net investment income of $35.4 million for the quarter, or $0.22 per diluted share, exceeding Wall Street expectations. Total investment income rose 1.1% year-over-year to $95.3 million, driven by higher interest and dividend income from the company's portfolio of investments in U.S. middle market companies.

According to the earnings release, New Mountain Finance's asset portfolio continued to perform well, with net realized and unrealized losses narrowing to $11.5 million compared to $12.0 million in the year-ago period. The company declared a quarterly distribution of $0.34 per share, signaling its confidence in the ongoing strength of its investment performance.