Ready Capital Corp. (RC) Tops Q4 EPS by 10c

Ready Capital Corp. (NYSE: RC) reported Q4 EPS of $0.51, $0.10 better than the analyst estimate of $0.41.

Fourth Quarter Results:

• U.S. GAAP Net income of $27.6 million, or $0.49 per diluted share of common stock
• Distributable Earnings of $28.8 million, or $0.51 per diluted share of common stock
• Adjusted net book value of $14.98 per share of common stock as of December 31, 2020
• Current unrestricted cash and available liquidity of $172 million
• Originated $1.2 billion of residential mortgage loans
• Originated and acquired $550.3 million of small-to-medium balance commercial loans
• Originated $65.0 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 $0.35 per share in cash

"Our fourth quarter results cap an historic year for Ready Capital. In the face of unprecedented market uncertainty due to the COVID Pandemic, our diversified business model proved resilient," commented Thomas Capasse, Ready Capital's Chairman and Chief Executive Officer. "We are optimistic about the Company's future prospects and will leverage a differentiated strategy to deliver superior returns for our shareholders."

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

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