Education
About Us
Working with TipRanks
Follow Us
Ready Capital Corporation (RC)
NYSE:RC
Earnings Data
Report Date
May 01, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.16Last Year’s EPS
0.29Same Quarter Last Year
Based on 6 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Mar 03, 2025
|% Change Since: -28.43%
|Next Earnings Date:May 01, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a company undertaking aggressive measures to stabilize and recover from current financial challenges. While there is significant growth in small business lending and strategic actions to improve the core portfolio, the reduction in book value per share, GAAP losses, and dividend cut highlight ongoing difficulties.Company Guidance
During the Ready Capital Fourth Quarter 2024 Earnings Conference Call, the company provided guidance for 2025, highlighting several strategic actions and expected outcomes. The company plans to address problem loans by setting aside a $284 million reserve, resulting in a 14% reduction in book value per share to $10.61. The dividend will be reduced to $0.125 per share in the first quarter to align with projected earnings and preserve capital. The company expects to achieve between $1 billion and $1.5 billion in new loan originations and aims for a recovery in net interest margins. The core portfolio, valued at $7.2 billion, is expected to yield 8% with a 93% pay rate. The company also anticipates $1.5 billion in SBA 7(a) loan originations and $300 million in USDA loans, contributing to expected earnings growth. Additionally, Ready Capital plans to execute a $150 million share repurchase program and expects the UDF IV merger to add 17% to earnings per share. Overall, these initiatives are expected to stabilize and enhance the company's financial performance through 2025.Small Business Lending Growth
Ready Capital's small business lending operations experienced significant origination growth of 1.7x, with fourth quarter originations of $350 million and a record year of $1.2 billion. Ready Capital was the number one non-bank lender and number four overall SBA 7(a) lender in the country.
Core Portfolio Strength
The core CRE loan portfolio, totaling $6 billion, showed strong credit metrics and yield metrics, with a contractual yield of 8%, 93% pay rate, and 60-day plus delinquencies at only 2%.
Aggressive Actions for Recovery
Two aggressive actions were taken: a $284 million combined CECL and valuation allowances to mark non-performing loans to current values, and a reduction of the dividend to $0.125 per share to preserve book value and align with projected cash earnings.
---
RC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
RC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 03, 2025 | $6.93 | $5.07 | -26.84% |
| Nov 07, 2024 | $6.74 | $7.04 | +4.45% |
| Aug 07, 2024 | $8.16 | $8.21 | +0.61% |
| May 08, 2024 | $7.60 | $7.79 | +2.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Ready Capital Corporation (RC) report earnings?
Ready Capital Corporation (RC) is schdueled to report earning on May 01, 2025, TBA Not Confirmed.
What is Ready Capital Corporation (RC) earnings time?
Ready Capital Corporation (RC) earnings time is at May 01, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RC EPS forecast?
RC EPS forecast for the fiscal quarter 2025 (Q1) is 0.16.
---