Quarterly ResultAug 6, 2026, 05:12 PM
Ready Capital Q2 GAAP Loss $(0.63) per Share
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 highlighted continued progress on its balance sheet repositioning plan, generating $1.4 billion in cash year-to-date and retiring $184 million in corporate debt. Management expressed encouragement by the progress and a focus on restarting growth in core CRE debt investing and SBA 7(a) lending.
Key Highlights
- Reported GAAP loss per common share of $(0.63) for Q2 2026.
- Reported distributable loss per common share of $(0.47) for Q2 2026.
- Book value stood at $6.83 per share of common stock 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 the 6.20% Senior Unsecured Notes.
- Total loan originations were $278.8 million, including $155.9 million in LMM CRE loans.
- Securitized $158.2 million of SBA 7(a) loans, generating $24.6 million net liquidity.
- Ended the quarter with $124 million in cash and $690 million of unencumbered assets.
Price Impact
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