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Feb 28, 2022
Saratoga Investment Q4 2022 Earnings Report
Saratoga Investment reported financial results for Q4 2022, marked by growth in AUM and continued portfolio strength.
Key Takeaways
Saratoga Investment Corp. announced strong fiscal year-end and fourth quarter 2022 financial results, with assets under management increasing significantly and a high level of investment quality in loan investments. The company's NAV per share reached an historic high, and originations in fiscal 2022 totaled $458 million invested, with $227 million of repayments.
NAV per share reached an historic high of $29.33.
Adjusted NII per share for the fourth quarter was $0.53.
Originations in fiscal 2022 totaled $458 million.
98.5% of credits rated in the highest category.
Forward Guidance
Saratoga Investment anticipates continued growth and strong performance, focusing on prudent originations and balance sheet strength.
Positive Outlook
- Continued strength of the pipeline
- Experienced management team
- High underwriting standards
- Ability to steadily grow portfolio size
- Maintain quality and investment performance over the long-term
Challenges Ahead
- Rising rate environment
- Robust current environment requires prudence and discernment in terms of originations
- Market activity continues to be extremely robust
- Volatility in the broadly syndicated loan market
- Impact of the COVID-19 pandemic and the pandemic’s impact on the U.S. and global economy
Historical Earnings Impact
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Avg. Return Before/After Earnings
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