Saratoga Investment reports Q2 adjusted EPS $1.08, consensus $1.08

Reports Q2 NAV per share $28.44. Saratoga Investment announced financial results for its second quarter, with net investment income per share down 15% from last quarter though up 80% over last year’s second quarter, and adjusted NII per share unchanged from last quarter, and up 86% from last year. “Rising interest rates are producing increased margins on our growing portfolio, and both the general contraction of available credit and our ongoing investment in sponsor relationships are creating an abundant flow of attractive investment opportunities from high quality sponsors at competitive pricing, terms and absolute rates. Saratoga continues to be well positioned for this environment on the asset side, with 85% first lien floating rate assets and a combined core portfolio yield of 12.6%, up from 9.9% last year, as well as on the liability side with largely fixed rate, interest only, essentially covenant free and non-amortizing liabilities, with final maturities occurring well into the future, primarily two through ten years out,” said Christian Oberbeck, chairman and CEO of Saratoga Investment.