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Ready Capital Corporation (RC)
NYSE:RC
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Earnings Data
Report Date
Mar 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.18Last Year’s EPS
0.26Same Quarter Last Year
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2018
|% Change Since: 4.60%
|Next Earnings Date:Aug 07, 2018
Earnings Call Sentiment|Neutral
The earnings call reflected a cautious optimism with significant progress in strategic initiatives and strong performance in small business lending, while dealing with challenges such as increased delinquencies and losses. The sentiment leans towards recovery and future growth.Company Guidance
During the Ready Capital third-quarter 2024 earnings call, the company provided a detailed overview of its financial and operational performance, highlighting several key metrics. The CRE portfolio, valued at $8.1 billion, was divided into originated and M&A segments, comprising 90% and 10% of the total, respectively. The originated portfolio saw a 6% decline to $7.3 billion, with 60-day plus delinquencies slightly increasing by $53 million, reaching 6.2% of the total portfolio. The modified loans, primarily multifamily, constituted 21% of the portfolio with an average stabilized LTV of 73% and a contractual interest rate of 9.2%. The company's small business lending operations marked a record origination of $440 million, contributing $21 million in pretax distributable income. The strategic initiatives led to $331 million in loan and REO sales, generating $55 million in net proceeds. The company's total leverage was maintained at a conservative 3.3x, below the long-term target of 4x. Despite a GAAP loss of $0.07 per common share, distributable earnings, excluding realized losses, were $0.25 per share. The company's liquidity position remained strong with $181 million in unrestricted cash.Stabilization in Commercial Real Estate Market
The third quarter marked a potential bottom of the commercial real estate cycle, particularly in the core multifamily sector, with stabilization in rent growth and property prices driven by rate cuts, reduced multifamily starts, and strong occupant demand.
Record Growth in Small Business Lending
Ready Capital achieved record quarterly origination of $440 million in small business loans, including $355 million in SBA 7(a) loans, $39 million in USDA loans, and $46 million in small business working capital loans.
Successful Strategic Portfolio Initiatives
72% of portfolio repositioning efforts are complete, with $331 million in loan and REO sales across 44 assets, generating $55 million in net proceeds.
Strong Liquidity Position
Ready Capital maintains a strong liquidity position with $181 million in unrestricted cash and $20 million in committed but undrawn borrowings.
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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
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RC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| 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% |
| Feb 27, 2024 | $7.76 | $7.38 | -4.90% |
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.
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FAQ
When does Ready Capital Corporation (RC) report earnings?
Ready Capital Corporation (RC) is schdueled to report earning on Mar 12, 2025, TBA Not Confirmed.
What is Ready Capital Corporation (RC) earnings time?
Ready Capital Corporation (RC) earnings time is at Mar 12, 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 2024 (Q4) is 0.18.
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