Quarterly ResultAug 6, 2026, 05:19 PM
Ready Capital Q2 GAAP Loss $(0.63) EPS; Book Value $6.83
AI Summary
Ready Capital Corporation reported a GAAP loss of $(0.63) per common share and a distributable loss of $(0.47) per common share for the second quarter ended June 30, 2026. The company continued its balance sheet repositioning, generating $1.4 billion in cash year-to-date from loan sales and portfolio runoff, and retired $184 million of corporate debt. Total loan originations for the quarter were $278.8 million, including $155.9 million in LMM commercial real estate loans and $82.1 million in SBA 7(a) loans. Book value per share was $6.83 as of quarter-end, with management noting a decelerating pace of book value reduction and narrowing earnings pressure.
Key Highlights
- GAAP loss per common share was $(0.63) for Q2 2026.
- Distributable loss per common share was $(0.47) for Q2 2026.
- Book value per share stood at $6.83 as of June 30, 2026.
- Generated $1.4 billion in cash year-to-date from loan sales and portfolio runoff.
- Retired $184 million of corporate debt and over $1 billion in asset-level financing.
- Total loan originations reached $278.8 million in Q2 2026.
- Ended the quarter with $124 million in cash and $690 million of unencumbered assets.
- Total leverage was 3.0x with recourse leverage of 1.7x.
Price Impact
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