Ready Capital Corp. (RC) Tops Q3 EPS by 21c

Ready Capital Corp. (NYSE: RC) reported Q3 EPS of $0.57, $0.21 better than the analyst estimate of $0.36.

Third Quarter Results:

• U.S. GAAP Net income of $35.4 million, or $0.63 per diluted share of common stock
• Core Earnings of $32.1 million, or $0.57 per diluted share of common stock
• Adjusted net book value of $14.84 per share of common stock as of September 30, 2020
• Current unrestricted cash and available liquidity of $221.7 million
• Originated $1.2 billion of residential mortgage loans
• Originated $105.6 million of Freddie Mac loans
• Originated a record $82.9 million of loans guaranteed by the U.S. Small Business Administration (the "SBA") under its Section 7(a) loan program
• Declared and paid dividend of $0.30 per share in cash

"The quarterly results are reflective of the benefits our stakeholders' receive from Ready Capital's diversified and differentiated business model," commented Thomas Capasse, Ready Capital's Chairman and Chief Executive Officer. "Although we remain cautious of the uncertainties surrounding the COVID pandemic, we are optimistic that our diverse portfolio and government sponsored lending businesses will continue to provide superior returns for our shareholders."

For earnings history and earnings-related data on Ready Capital Corp. (RC) click here.

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