Loading...
•
Jun 30, 2020
Ready Capital Q2 2020 Earnings Report
Ready Capital reported record results driven by gain on sale businesses and participation in the Paycheck Protection Program.
Key Takeaways
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.
U.S. GAAP Net income was $34.7 million, or $0.62 per diluted share.
Core Earnings reached $39.2 million, or $0.70 per diluted share.
Adjusted net book value stood at $14.46 per share as of June 30, 2020.
The company's unrestricted cash position was $257.0 million as of June 30, 2020.
Ready Capital
Ready Capital
Forward Guidance
The company did not provide specific forward guidance in the earnings report.