The company’s earnings per share fell short of analyst expectations and were lower than a year earlier. Revenue also declined compared to the prior year and missed market estimates.
Saratoga Investment recorded adjusted earnings of $0.47 per share for the quarter, which was below the analyst estimate of $0.55 per share. This figure also represented a decrease from the previous year’s earnings.
The firm generated quarterly sales of $30.78 million, falling short of Wall Street’s estimate of $31.26 million and reflecting a 4.8 percent decrease from the same period last year.
Christian L. Oberbeck, Chairman and Chief Executive Officer of Saratoga Investment, commented, “In a quarter defined by sector-wide pressure across private credit, Saratoga’s last twelve months return on equity of 4.0 percent continued to beat the BDC industry average of 2.4 percent, even as we grew assets under management 1.6 percent to $1.126 billion on $31 million of net originations.”
