Ready Capital Posts $0.63 Q2 Loss, CEO Sees Narrowing Pressure
RC is trading near its 52-week low of $1.39 (12% above the low).
Summary
Ready Capital reported a Q2 GAAP loss of $0.63 per share, with a net loss of $99.68 million, following a $203.7 million loss in Q1. The CEO highlighted decelerating book value erosion and narrowing earnings pressure, signaling stabilization. The company generated $1.4 billion in cash year-to-date from loan sales and runoff, paying down over $1 billion in asset-level financing and retiring $184 million of corporate debt. A $158.2 million SBA 7(a) loan securitization added $24.6 million in liquidity and $500 million in funding capacity. Management is focused on meeting Q4 debt maturities and restarting growth in CRE debt and SBA lending. The stock closed at $1.55, with a median analyst target of $2.00.
At the time of this announcement, RC was trading at $1.55 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $256.1M. The 52-week trading range was $1.39 to $4.47. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.