SAX: An 8.00% Notes IPO From Saratoga Investment
Saratoga Investment Corp. faces portfolio risk shifts, NAV depletion, and lending spread compression, making its common stock unattractive despite a 21% discount. SAR's new 8.00% Notes due 2031 (SAX) offer an 8.45% YTM, ranking among the highest in unrated BDC baby bonds and providing sector diversification. Despite increased exposure to higher-risk assets and sector concentration in SaaS, SAR's asset coverage ratio remains above regulatory minimums, and debt risk premiums are stable.
Saratoga Investment Q1 Earnings Call Highlights
Saratoga Investment NYSE: SAR reported higher assets under management and positive net originations for its fiscal first quarter 2027, while lower short-term rates, tighter spreads and higher borrowing costs weighed on net investment income and net asset value.
Saratoga Investment Corp (SAR) Q1 2027 Earnings Call Transcript
Saratoga Investment Corp (SAR) Q1 2027 Earnings Call Transcript
Saratoga Investment (SAR) Q1 Earnings and Revenues Miss Estimates
Saratoga Investment (SAR) came out with quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.66 per share a year ago.
Saratoga Investment (SAR) Meets Q4 Earnings Estimates
Saratoga Investment (SAR) came out with quarterly earnings of $0.53 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.56 per share a year ago.
SAV: A 7.50% Notes IPO From Saratoga Investment
Saratoga Investment Corp. has issued a new 7.5% baby bond due 2031, callable in 2028 and after. SAV proceeds will redeem $175M of 4.375% 2026 Notes, reducing SAR's total debt by $75M and strengthening its asset coverage ratio. SAR maintains a stable portfolio, with long-term returns above sector averages and adequate dividend coverage for interest payments.
Saratoga Investment Corp (SAR) Q2 2026 Earnings Call Transcript
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 Q2: Mixed Results, Good Business Model
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: Portfolio Remains Resilient, But Still Not A Buy
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) Q2 Earnings and Revenues Lag Estimates
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.
Saratoga Investment Corp (SAR) Q1 2026 Earnings Call Transcript
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.
Saratoga Investment (SAR) Q1 Earnings and Revenues Lag Estimates
Saratoga Investment (SAR) came out with quarterly earnings of $0.66 per share, missing the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $1.05 per share a year ago.
