Q3 2026 Saratoga Investment Corp Earnings Call Transcript
Key Points
- Saratoga Investment Corp (SAR) reported a strong 13.5% return on equity, outperforming the industry average.
- The company announced a monthly base dividend of $0.25 per share, representing a 12.9% yield based on the stock price.
- Net originations of $17.2 million were achieved, including investments in three new portfolio companies.
- The overall credit quality improved, with 99.8% of credits rated in the highest category and only one investment on non-accrual status.
- Saratoga Investment Corp (SAR) maintained a substantial $396 million of investment capacity, providing flexibility for future investments.
- Adjusted NII was down 21.3% from the previous year, reflecting lower AUM and base interest rates.
- The yield on the core BDC portfolio decreased from 11.3% to 10.6%, impacted by lower SOFA base rates and tighter spreads.
- NAV per share decreased slightly from $25.61 last quarter to $25.59, indicating a marginal decline in shareholder value.
- The company faces challenges from a volatile macro environment and geopolitical tensions, impacting market dynamics.
- Spreads on new investments have tightened, potentially affecting the risk-adjusted returns on new deals.
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Saratoga Investment Corp's fiscal third quarter 2026 financial results conference call. Please note that today's call is being recorded. During today's presentation, all parties will be in a listen-only mode. Following management's prepared remarks, we will open the line for questions. At this time, I would like to turn the call over to Saratoga Investment Corp's Chief Financial and Chief Compliance Officer, Mr. Henri Steenkamp. Please go ahead, sir.
Thank you. I would like to welcome everyone to Saratoga Investment Corp fiscal third quarter 2026 earnings conference call. Today's conference call includes forward-looking statements and projections. We ask you to refer to our most recent filings with the SEC for important factors that could cause actual results to differ materially from these forward-looking statements and projections. We do not undertake to update
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
