Sound Point Meridian Capital (NYSE:SPMC) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Sound Point Meridian Capital (NYSE:SPMC) reported quarterly earnings of $0.24 per share, missing consensus estimates by $0.06. The company plans to reduce its monthly distribution to $0.13 per share in Q4 2026 due to net investment income falling below distributions, influenced by spread tightening and higher reserves for AI-exposed software loans. Despite these challenges, NAV per share increased to $9.88, and management is strategically shifting towards secondary-market CLO investments for higher yields.