Saratoga Investment Corp. (SAR)

Saratoga Investment Corp (NYSE:SAR ) Q2 2026 Earnings Call October 8, 2025 10:00 AM EDT Company Participants Henri Steenkamp - Chief Compliance Officer, Secretary, Treasurer, CFO & Director Christian Oberbeck - Chairman, President & CEO Michael Grisius - Co-Managing Partner & Chief Investment Officer Conference Call Participants Erik Zwick - Lucid Capital Markets, LLC Casey Alexander - Compass Point Research & Trading, LLC, Research Division Robert Dodd - Raymond James & Associates, Inc., Research Division Christopher Nolan - Ladenburg Thalmann & Co. Inc., Research Division Mickey Schleien - Ladenburg Thalmann & Co. Inc., Research Division Presentation Operator Good morning, ladies and gentlemen. Thank you for standing by.

Saratoga Investment Corp (SAR) is rated Hold for income-focused investors seeking high monthly yields from BDCs, despite recent mixed Q2 results. SAR offers a compelling 12.3% yield, a 5% DRIP discount, and has outperformed BDC sector indexes on total return over the past decade. Q2 saw declines in AUM and net interest income, but SAR remains profitable, with strong ROE and active portfolio management.

Saratoga Investment Corp maintains a resilient portfolio with low non-accruals and a focus on first lien loans, supporting its defensive positioning. SAR's Q2 earnings disappointed, with net investment income falling below the dividend payout, raising concerns about the sustainability of its 12.3% yield. The stock trades at a modest 4.35% discount to NAV, near the least attractive range in five years, limiting its current accumulation appeal.

Saratoga Investment (SAR) came out with quarterly earnings of $0.58 per share, missing the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $1.33 per share a year ago.

Reports 3.6% Increase in NAV and 0.4% Increase in NAV Per Share from Previous Quarter Quarterly ROE of 13.8% Generates LTM ROE of 9.1% and Beats the BDC Industry Average of 7.3% Zollege Investment Returned to Accrual Status; Only One Investment Remains on Non-Accrual, Representing 0.2% of Portfolio at Fair Value and 0.3% at Cost NEW YORK, Oct. 07, 2025 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE: SAR) (“Saratoga Investment” or “the Company”), a business development company (“BDC”), today announced financial results for its fiscal second quarter 2026 ended August 31, 2025. Summary Financial Information The Company's summarized financial information is as follows:   For the three months ended and as of ($ in thousands, except per share) August 31, 2025   May 31, 2025   August 31, 2024   Assets Under Management (AUM) 995,295   968,318   1,040,711   Net Asset Value (NAV) 410,500   396,369   372,054   NAV per share 25.61   25.52   27.07   Total Investment Income 30,626   32,319   43,003   Net Investment Income (NII) per share 0.58   0.66   1.33   Adjusted NII per share 0.58   0.66   1.33   Earnings per share 0.84   0.91   0.97   Dividends per share (declared) 0.75   0.75   0.74   Return on Equity – last twelve months 9.1 % 9.3 % 5.8 % – annualized quarter 13.8 % 14.1 % 14.4 % Originations 52,222   50,086   2,584   Repayments 29,824   64,330   60,140   Christian L.

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Saratoga Investment Corp. (NYSE:SAR) will release earnings results for the second quarter, after the closing bell on Tuesday, Oct. 7.

NEW YORK, Sept. 26, 2025 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR), a business development company, will report its financial results for the fiscal quarter ended August 31, 2025, on Tuesday October 7, 2025, after market close. A conference call to discuss the financial results will be held on Wednesday October 8, 2025. Details for the conference call are provided below.

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NEW YORK, Sept. 11, 2025 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR) (“Saratoga Investment” or “the Company”), a business development company, today announced that its Board of Directors has declared a base quarterly dividend of $0.75 per share in aggregate for the third quarter of fiscal 2026, declaring the following three monthly dividends for the quarter ended November 30, 2025: Month Amount per Share Record Date Payment Date September 2025 $0.25 October 7, 2025 October 23, 2025 October 2025 $0.25 November 4, 2025 November 20, 2025 November 2025 $0.25 December 2, 2025 December 18, 2025 “Our board of directors approved an aggregated dividend for the third quarter of fiscal 2026 of $0.75 per share, paid in monthly dividends of $0.25 per share per month.

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Urges Stockholders to Reduce Solicitation Costs by Voting their Shares Immediately NEW YORK, NY, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE: SAR) (“Saratoga Investment,” “Saratoga” or “the Company”) today announced that the Company commenced distribution of proxy materials to the Company's stockholders for the 2025 Annual Meeting of Stockholders (the “Annual Meeting”) to be held on September 25, 2025 at 10:00 a.m., Eastern Time at the offices of Eversheds Sutherland (US) LLP, located at 1114 Avenue of the Americas, New York, NY 10036  Stockholders of the Company's common stock as of the close of business on July 29, 2025, the record date, may vote at the Annual Meeting.

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We take a look at the action in business development companies through the second week of July and highlight some of the key themes we are watching. BDCs had another strong week, pushing month-to-date gains to 4% on average. SAR results were pretty good, a positive sign for the broader earnings season.

Saratoga Investment Corp. is a business development company, or BDC, that is outperforming the average. SAR outperforms BDC peers with a 12% yield, strong total returns, and superior return on equity, driven by a first-lien loan-heavy portfolio. The company recently switched to monthly distributions and offers a DRIP, enhancing compounding and dollar-cost averaging for long-term investors.

Saratoga Investment Corp (NYSE:SAR ) Q1 2026 Earnings Conference Call July 9, 2025 10:00 AM ET Company Participants Christian Long Oberbeck - Chairman, President & CEO Henri J. Steenkamp - Chief Compliance Officer, Secretary, Treasurer, CFO & Director Michael Joseph Grisius - Co-Managing Partner & Chief Investment Officer Conference Call Participants Erik Edward Zwick - Lucid Capital Markets, LLC, Research Division Robert James Dodd - Raymond James & Associates, Inc., Research Division Operator Good morning, ladies and gentlemen.