Ready Capital Earnings Reports

Ready Capital posted a significant net loss in Q4 2024 as it fully reserved for non-performing commercial real estate loans. Small Business Lending continued to perform well, with solid loan originations. The company also adjusted its dividend and repurchased shares as part of its capital strategy.

Ready Capital Corporation reported a GAAP loss per common share of $(0.07) and a distributable earnings per common share of $(0.28) for the third quarter of 2024. However, distributable earnings per common share before realized losses was $0.25, and the company saw record growth in its Small Business Lending business.

Ready Capital Corporation reported a GAAP loss per common share of $(0.21) and distributable earnings per common share of $0.07 for the second quarter of 2024. The company focused on cycling out of underperforming assets and into market-yielding investments, which, along with improvements in credit metrics and record small business lending growth, are expected to improve earnings by year-end.

Ready Capital Corporation reported financial results for the quarter ended March 31, 2024. The company faced challenges in the commercial real estate market, reflected in a valuation allowance. However, the Small Business Lending segment reached all-time highs.

Ready Capital Corporation reported financial results for the quarter ended December 31, 2023. The company's total investments were $449 million, including $297 million of LMM originations and $152 million of U.S. Small Business Administration 7(a) loans. The company declared and paid a dividend of $0.30 per share in cash. Net book value was $14.10 per share of common stock as of December 31, 2023.

Ready Capital Corporation reported its Q3 2023 financial results, highlighting total investments of $984 million, including SBC originations, residential mortgage loans, and SBA 7(a) loans. The company's distributable earnings per common share was $0.28, and GAAP earnings per common share was $0.25. The company expects short-term earnings pressure from the Broadmark acquisition to abate in upcoming quarters.

Ready Capital Corporation reported strong financial results for the second quarter of 2023, with a net income of $253.373 million and distributable earnings of $51.283 million. The company completed the acquisition of Broadmark Realty Capital and executed a $649 million securitization of floating rate SBC loans. A new stock repurchase program was initiated, authorizing $100 million for share repurchases.

Ready Capital Corporation reported financial results for the quarter ended March 31, 2023. The company announced a definitive merger agreement with Broadmark Realty Capital and total investments of $829 million. The company declared a dividend of $0.40 per share in cash and net book value was $15.07 per share of common stock as of March 31, 2023.

Ready Capital Corporation reported financial results for the quarter ended December 31, 2022. The company had a GAAP earnings per common share of $0.08 and distributable earnings per common share of $0.42. Total investments were $1.4 billion, including $891 million of SBC originations and acquisitions.

Ready Capital Corporation reported financial results for the quarter ended September 30, 2022. The company had GAAP earnings per common share of $0.53 and distributable earnings per common share of $0.46. Total investments were $1.5 billion, including $831.1 million of SBC originations and acquisitions.

Ready Capital Corporation reported financial results for the quarter ended June 30, 2022. The company's results reflect its ability to deploy capital across economic cycles, with growth in the loan portfolio and continued access to capital markets.

Ready Capital Corporation reported financial results for the quarter ended March 31, 2022, with GAAP earnings per common share of $0.70 and distributable earnings per common share of $0.52. The quarter was marked by significant milestones, including record SBC originations and the completion of a merger with Mosaic Real Estate Credit.

Ready Capital Corporation reported financial results for the quarter ended December 31, 2021, with GAAP earnings per common share of $0.69 and distributable earnings per common share of $0.67. The company's performance was driven by record originations in its SBC and SBA 7(a) lending businesses, contributing to total investments of $3.3 billion.

Ready Capital Corporation reported strong third quarter results, driven by increased scale, expanded capabilities and an attractive economic climate. The company declared a dividend of $0.42 per share in cash with Distributable Earnings coverage of the dividend at 1.5x. Total investments were $2.3 billion, including $1.2 billion in SBC originations and acquisitions, $1.0 billion of residential mortgage loans, and $138.3 million of U.S. Small Business Administration 7(a) loans.

Ready Capital Corporation reported a net income of $30.9 million, or $0.38 per share, and distributable earnings of $41.4 million, or $0.52 per share for the quarter ended June 30, 2021. The company originated a record $1.1 billion of small-to-medium balance commercial loans and $145.7 million of SBA 7(a) loans.

Ready Capital Corporation reported strong first quarter results, driven by its diversified model and government-sponsored gain on sale businesses. The company reported a net income of $28.9 million, or $0.49 per share, and distributable earnings of $24.7 million, or $0.41 per share. They also originated a record of $823.2 million of small-to-medium balance commercial loans.

Ready Capital Corporation reported a net income of $27.6 million, or $0.49 per share, and distributable earnings of $28.8 million, or $0.51 per share for the quarter ended December 31, 2020. The company originated $1.2 billion of residential mortgage loans and $550.3 million of small-to-medium balance commercial loans during the quarter.

Ready Capital Corporation reported a U.S. GAAP Net income of $35.4 million, or $0.63 per share of common stock, and Core Earnings of $32.1 million, or $0.57 per share of common stock for the quarter ended September 30, 2020.

Ready Capital Corporation reported a U.S. GAAP Net income of $34.7 million, or $0.62 per share, and Core Earnings of $39.2 million, or $0.70 per share, for the quarter ended June 30, 2020. The company's performance was boosted by its gain on sale businesses, including involvement in the U.S. Government's Paycheck Protection Program.

Ready Capital reported a U.S. GAAP Net loss of $51.5 million, or $0.98 per share, and Core Earnings of $1.2 million, or $0.01 per share. The company shifted its focus to increasing liquidity, managing liabilities, and preserving book value due to the COVID-19 pandemic.

Ready Capital Corporation reported a net income of $20.9 million, or $0.43 per share, and core earnings of $21.0 million, or $0.43 per share, for the quarter ended December 31, 2019. The company originated $525.7 million and acquired $153.7 million of small balance commercial loans, and originated $70.2 million of SBA loans and $586.3 million of residential mortgage loans.