Ready Capital Q2 2024 Earnings Report

Ready Capital EPS Results

• Actual EPS: $0.07
• Consensus EPS: $0.26
• Beat/Miss: Missed by -$0.19
• One Year Ago EPS: $0.35

Ready Capital Revenue Results

• Actual Revenue: $234.12 million
• Expected Revenue: $61.77 million
• Beat/Miss: Beat by +$172.35 million
• YoY Revenue Growth: N/A

Ready Capital Announcement Details

• Quarter: Q2 2024
• Date: 8/7/2024
• Time: After Market Closes

Ready Capital (NYSE:RC) operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments. The LMM Commercial Real Estate segment originates LLM loans across the full life-cycle of an LLM property, including construction, bridge, stabilized, and agency loan origination channels. The Small Business Lending segment acquires, originates, and services owner-occupied loans guaranteed by the SBA under its SBA Section 7(a) Program; and acquires purchased future receivables. The company has elected to be taxed as a real estate investment trust (REIT) and would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Sutherland Asset Management Corporation and changed its name to Ready Capital Corporation in September 2018. Ready Capital Corporation was founded in 2007 and is headquartered in New York, New York.