The earnings call presented a mixed sentiment. While there were significant improvements in quarterly adjusted NII and NAV, and a strategic increase in dividend yield and portfolio investments, challenges remain with a substantial year-over-year drop in adjusted NII and NAV per share. The ongoing market volatility and reduced M&A activity pose concerns for future growth, despite the company's efforts to invest in origination capabilities.

Company Guidance -

Q2 2026

In the recent fiscal first quarter 2026 earnings call for Saratoga Investment Corp., significant metrics were highlighted. The company reported a 17.9% increase in adjusted net investment income (NII) per share from the previous quarter, reaching $0.66 per share. The net asset value (NAV) showed growth, increasing by 7.8% year-over-year to $396.4 million, while return on equity was notably strong at 9.3%, surpassing the industry average of 7%. The company made two new portfolio company investments totaling $50.1 million and announced a base dividend of $0.75 per share for the second quarter, representing an 11.8% yield based on a stock price of $25.44. The portfolio's fair value increased by $3.8 million, and the overall financial performance reflected strong underwriting practices amidst a volatile macroeconomic environment. Despite a challenging market with lower deal volumes, the company maintained a robust liquidity position with $430 million in investment capacity, positioning it well for future opportunities.

Increase in Adjusted NII per Share

Adjusted NII per share increased by 17.9% from the previous quarter, indicating improved earnings performance.

Dividend Distribution

Announcement of a base dividend of $0.25 per share per month, or $0.75 per share in aggregate for the second quarter of fiscal 2026, representing an 11.8% yield based on the stock price.

NAV and Return on Equity Growth

NAV increased by 7.8% from last year and 0.9% from last quarter, with a return on equity of 9.3%, up from 4.4% last year and above the industry average of 7%.

Strong Portfolio Performance

The core non-CLO portfolio was marked up by $2.6 million, and the overall portfolio's fair value increased by $3.8 million during the quarter.

Low Nonaccrual Rate

Only 0.6% of investments were on nonaccrual, significantly lower than the industry average of 3.7%.

New Investments and Originations

$50.1 million invested in 2 new portfolio companies, 6 follow-ons, and new investments in multiple BB CLO debt securities.

Saratoga Investment (SAR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

SAR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 14, 2025	2026 (Q2)	0.68 / -	1.33	―	―	―
Jul 08, 2025	2026 (Q1)	0.72 / 0.66	1.05	-37.14% (-0.39)
May 07, 2025	2025 (Q4)	0.70 / 0.56	0.94	-40.43% (-0.38)
Jan 08, 2025	2025 (Q3)	0.86 / 0.90	1.01	-10.89% (-0.11)
Oct 08, 2024	2025 (Q2)	0.94 / 1.33	1.08	23.15% (+0.25)
Jul 09, 2024	2025 (Q1)	0.95 / 1.05	1.08	-2.78% (-0.03)
May 06, 2024	2024 (Q4)	0.96 / 0.94	0.98	-4.08% (-0.04)
Jan 09, 2024	2024 (Q3)	1.03 / 1.01	0.77	31.17% (+0.24)
Oct 09, 2023	2024 (Q2)	1.02 / 1.08	0.58	86.21% (+0.50)
Jul 10, 2023	2024 (Q1)	0.85 / 1.08	0.66	63.64% (+0.42)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SAR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 08, 2025	$25.04	$24.32	-2.88%
May 07, 2025	$24.19	$22.27	-7.94%
Jan 08, 2025	$22.81	$22.51	-1.32%
Oct 08, 2024	$21.01	$22.13	+5.33%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Saratoga Investment Corp (SAR) report earnings?

Saratoga Investment Corp (SAR) is schdueled to report earning on Oct 14, 2025, After Close (Confirmed).

What is Saratoga Investment Corp (SAR) earnings time?

Saratoga Investment Corp (SAR) earnings time is at Oct 14, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is SAR EPS forecast?

SAR EPS forecast for the fiscal quarter 2026 (Q2) is 0.68.

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