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Ready Capital (RC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Ready Capital (RC - Free Report) 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.
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.
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Ready Capital (RC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Ready Capital (RC - Free Report) 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:
View all Key Company Metrics for Ready Capital here>>>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.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.