Ready Capital (RC)
NYSE:RC
Want to see RC full AI Analyst Report?
Earnings Data
Report Date
Aug 12, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.47Last Year’s EPS
-0.14Same Quarter Last Year
Moderate Sell
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call describes a company undergoing an active, deliberate balance sheet repositioning: management has achieved meaningful liquidity and debt paydown progress (generated $1.4B cash, retired corporate bonds, and reached ~67% of target liquidity) and laid out a credible multi-quarter plan to stabilize leverage (~2.5x) and refocus activities toward SBA lending and selective CRE investing. However, these steps have coincided with significant near-term pain: a GAAP loss of $1.25/sh, a ~61% drop in recurring revenue QoQ, a ~15.5% decline in book value per share, increased operating expenses and reserves, and a material increase in nonperforming metrics. Overall the call balances clear operational progress and strategic rationale against meaningful short-term financial deterioration and execution risk.Company Guidance
Strong Liquidity Generation and Debt Paydown
Generated $1.4 billion in cash from loan sales and liquidations year-to-date; paydown of over $1.1 billion in warehouse debt; produced $270 million in net liquidity and used proceeds to retire $184 million of corporate debt (retired $117M bond in Feb and $67M bond in Apr).
Loan Sales and Runoff Contributions
Sold 48 loans with total unpaid principal balance of ~ $1.0 billion across 4 transactions yielding $177 million net liquidity (66% performing, 30% non/sub-performing); portfolio runoff of $550 million provided $93 million net liquidity.
Progress Toward Liquidity Plan
Management reports 67% of target liquidity achieved and ended the quarter with $200 million of liquidity and $730 million of unencumbered assets; expects an incremental ~$400 million liquidity from sale/runoff of $2.0B–$2.5B CRE loans and REO through year-end to cover remaining 2026 maturities.
Balance Sheet Repositioning and Deleveraging Targets
Transitioning to a lower-leverage, more capital-efficient platform; currently at ~3.0x leverage with expectation to stabilize around 2.5x leverage after execution of repositioning plan.
Strategic Shift in Investment and Financing
Plan to double average CRE investment size versus historical average of $17 million; move to more opportunistic financing and less securitization-driven CRE funding; greater integration with external manager Waterfall Asset Management.
SBA / Small Business Lending Growth Opportunity
Intend to increase capital allocation to small business lending to ~20% of company capital; pending $158 million SBA 7(a) securitization expected to generate capacity for $500 million incremental future volume, supporting a return toward historical production ($1.1B in 2024).
Ritz Property Operational Improvement
Ritz property is 18% of quarter-end equity; sold 43 condo units with 4 additional under contract (approximately 36% sellout of 132 units); hotel occupancy +5% YoY to 46%, ADR +1% to $482, and RevPAR +13% to $221.
Fee Income and Third-Party Originations
Generating fee income while constrained on net interest margin by originating for Waterfall (funded $172 million YTD) and launching a new $1 billion flow arrangement to originate for third parties.
RC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
RC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $2.16 | $1.89 | -12.50% |
Feb 26, 2026 | $1.62 | $1.84 | +13.53% |
Nov 06, 2025 | $2.96 | $2.91 | -1.66% |
Aug 07, 2025 | $4.05 | $3.90 | -3.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Ready Capital (RC) report earnings?
Ready Capital (RC) is schdueled to report earning on Aug 12, 2026, After Close (Confirmed).
What is Ready Capital (RC) earnings time?
Ready Capital (RC) earnings time is at Aug 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RC EPS forecast?
RC EPS forecast for the fiscal quarter 2026 (Q2) is -0.47.