Saratoga Investment posts Q1 FY2023 loss of $0.12 EPS; adjusted NII $0.53

SARATOGA INVESTMENT CORP.

2024-Q1 EPS reported -$0.12

Net loss $1.5M ($0.12 EPS) vs net income $21.0M ($1.88 EPS) a year ago; NII $8.0M ($0.66/share).
Adjusted NII per share $0.53, unchanged from prior qtr; dividend maintained at $0.53/share.
NAV per share $28.69, down 2.2% from $29.33 last qtr; AUM $894.5M, up 9.4% sequentially.
Issued $97.5M of 6.00% baby bonds due 2027; redeemed $43.1M SAK 7.25% notes on July 14.
Portfolio 80% first lien, 98.5% floating rate; 95% of credits at highest rating.

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