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Mar 31, 2020
Ready Capital Q1 2020 Earnings Report
Ready Capital reported a net loss and focused on increasing liquidity amidst COVID-19 pandemic.
Key Takeaways
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.
U.S. GAAP Net loss of $51.5 million, or $0.98 per diluted share of common stock
Core Earnings of $1.2 million, or $0.01 per diluted share of common stock
Adjusted net book value of $14.52 per share of common stock as of March 31, 2020
Unrestricted cash position of $122.3 million as of March 31, 2020
Forward Guidance
In light of the increased volatility and market instability caused by COVID-19 pandemic, the Company shifted focus to increasing liquidity, managing mark-to-market liabilities, and preserving book value through pre-emptive asset management.
Positive Outlook
- Increasing liquidity
- Managing mark-to-market liabilities
- Preserving book value
- Leveraging lending segments
- Supporting economy challenges
Historical Earnings Impact
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Avg. Return Before/After Earnings
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