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Aug 31, 2022
Saratoga Investment Q2 2023 Earnings Report
Announced fiscal second quarter 2023 financial results, showing increased total investment income and AUM, but decreased NAV per share.
Key Takeaways
Saratoga Investment Corp. reported its fiscal second quarter 2023 financial results, noting significant market volatility. The company focused on balance sheet strength, growing its asset base in high-quality credits and the increase of the quarterly dividend level by $0.01. Total investment income increased, driven by a larger investment base and higher interest rates.
Assets under management increased by 43.3% year-over-year to $954.7 million.
Total investment income increased by 18.5% year-over-year to $21.9 million.
Adjusted net investment income was relatively unchanged year-over-year at $7.0 million.
NAV per share decreased by 1.5% from last quarter to $28.27.
Forward Guidance
Saratoga Investment remains confident in its management team, underwriting standards, and ability to grow portfolio size and maintain quality.
Positive Outlook
- Experienced management team
- High underwriting standards
- Ability to steadily grow portfolio size
- Ability to maintain quality
- Ability to maintain investment performance over the long-term
Challenges Ahead
- Significant market volatility
- Increasing inflation
- Supply chain constraints
- Rising rates
- Global instability
Historical Earnings Impact
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Avg. Return Before/After Earnings
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