Ready Capital (RC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended June 2024, Ready Capital (RC) reported revenue of $50.95 million, down 15.6% over the same period last year. EPS came in at $0.07, compared to $0.35 in the year-ago quarter.

The reported revenue represents a surprise of -17.51% over the Zacks Consensus Estimate of $61.77 million. With the consensus EPS estimate being $0.26, the EPS surprise was -73.08%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Ready Capital performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Servicing income, net

  : $3.27 million compared to the $4.29 million average estimate based on four analysts.

• Total non-interest income

  : -$82.39 million compared to the $45.23 million average estimate based on four analysts.

• Other income

  : $6.60 million versus $16.46 million estimated by four analysts on average.

• Net realized gain (loss) on financial instruments and real estate owned

  : $7.25 million versus $19.84 million estimated by three analysts on average.

• Net unrealized gain (loss) on financial instruments

  : -$1.36 million compared to the $4.91 million average estimate based on three analysts.

• Total interest income

  : $234.12 million versus the three-analyst average estimate of $238.86 million.

• Income on unconsolidated joint venture

  : $1.14 million compared to the $0.57 million average estimate based on two analysts.

View all Key Company Metrics for Ready Capital here>>>

Shares of Ready Capital have returned +3.3% over the past month versus the Zacks S&P 500 composite's -5.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Ready Capital Corp (RC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research