Saratoga Investment

Q2 FY2027 EarningsQ2 FY27 results were a significant miss compared to consensus estimates, primarily driven by severe unrealized portfolio depreciation. Total investment income was $31.17M, slightly missing the $31.47M consensus, while Normalized EPS (Net Investment Income) of $0.45 fell short of the $0.49 expectation due to a 13.7% YoY surge in interest expenses. GAAP EPS of -$0.41 was a major miss against the expected $0.49 profit, as the company recorded $16.5M in net unrealized losses, largely stemming from credit-specific markdowns in investments like Exigo, LLC and Chronus LLC.