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Sep 30, 2023
Ready Capital Q3 2023 Earnings Report
Ready Capital reported financial results for Q3 2023, with distributable earnings per common share of $0.28 and GAAP earnings per common share of $0.25.
Key Takeaways
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.
Total investments reached $984 million, including $464 million in SBC originations.
Residential mortgage loans totaled $391 million.
U.S. Small Business Administration 7(a) loans amounted to $129 million.
Dividend of $0.36 per share was declared and paid in cash.
Forward Guidance
Ready Capital anticipates that the short-term earnings pressure from the Broadmark acquisition will subside in the coming quarters. The company expects its well-positioned balance sheet, strong liquidity, and origination platform to contribute to earnings growth in the new year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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