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Ready Capital (RC) Reports Q4 Earnings: What Key Metrics Have to Say

For the quarter ended December 2023, Ready Capital (RC) reported revenue of $52.54 million, down 50.5% over the same period last year. EPS came in at $0.26, compared to $0.42 in the year-ago quarter.

The reported revenue represents a surprise of -20.35% over the Zacks Consensus Estimate of $65.96 million. With the consensus EPS estimate being $0.30, the EPS surprise was -13.33%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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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: $4.61 million versus $15.71 million estimated by four analysts on average.

  • Total non-interest income: $60.01 million compared to the $60.50 million average estimate based on four analysts.

  • Other income: $46.58 million versus $16.75 million estimated by four analysts on average.

  • Total interest income: $250.13 million compared to the $256.74 million average estimate based on three analysts.

  • Income on unconsolidated joint venture: -$1.65 million compared to the $0.71 million average estimate based on two analysts.

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

Shares of Ready Capital have returned -10.2% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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