NYSE$RC

Ready Capital Corporation · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Ready Capital reported strong first-quarter results driven by sustained expansion and strategic acquisitions.

Ready Capital Corporation reported financial results for the quarter ended March 31, 2022, with GAAP earnings per common share of $0.70 and distributable earnings per common share of $0.52. The quarter was marked by significant milestones, including record SBC originations and the completion of a merger with Mosaic Real Estate Credit.

  • Completed a $542 million merger with Mosaic Real Estate Credit.
  • Total investments reached $3.1 billion, including $2.2 billion in SBC originations and acquisitions.
  • Closed a $1.1 billion commercial mortgage collateralized loan obligation, the Company’s largest CRE CLO to date.
  • Declared and paid a dividend of $0.42 per share in cash.

Headline financials

Total Revenue

$151M

Previous: $112M+35.5%
EPS (adj)

$0.48

Previous: $0.41+17.1%
Book Value Per Share

$15.22

Previous: $14.89+2.2%
Dividend Per Share

$0.42

No prior period
Capital Expenditures

-$902K

No prior period
Free Cash Flow

$63.4M

Previous: $28.9M+118.9%
Net Income

$64.3M

Previous: $28.9M+122.0%
Operating Income

$63.7M

Previous: $28M+127.7%
Gross Profit

$143M

Previous: $106M+35.1%
Cash & Equivalents

$211M

Previous: $308M-31.5%
Total Assets

$11.5B

Previous: $8.02B+43.1%
Stock-Based Comp

$1.96M

Previous: $1.58M+24.4%

Revenue & EPS history

Ready Capital · Revenue · Quarterly

$151M

Q1 2022+35.5%vs Q1 2021
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-1.0%

Avg return

Earnings day

-1.5%

Avg return

5 days after

-0.2%

Avg return

30 days after

39%

22 / 56 earnings

Positive

+16.2%

Q2 2020

Best reaction

-26.8%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-12.9%-21.7%-21.7%
Q4 2025+12.2%+27.0%-6.7%
Q3 2025-1.7%-11.0%-12.4%
Q1 2025-5.3%-3.0%-1.6%
Q4 2024-26.8%-22.7%-26.3%
Q3 2024+4.7%+3.0%+5.9%
Q2 2024+0.1%-4.7%-9.8%
Q1 2024-0.9%+4.9%-1.5%
Q4 2023-5.0%+0.3%+2.1%
Q3 2023+1.0%-1.9%+5.3%
Q2 2023-0.8%-2.5%-5.1%
Q1 2023-2.0%+0.2%+8.1%
Q4 2022-9.9%-10.6%-19.0%
Q3 2022+4.4%+10.2%+6.8%
Q2 2022+1.3%+1.6%-7.2%
Q1 2022-6.5%-7.7%-3.2%
Q4 2021+6.6%+7.6%+13.5%
Q3 2021+5.4%+4.2%+2.1%
Q2 2021+2.6%+2.5%+3.5%
Q1 2021+0.9%-2.9%+7.9%
Q4 2020+4.3%+4.1%-4.0%
Q3 2020-4.0%-4.7%+12.8%
Q2 2020+16.2%+16.1%+25.7%
Q1 2020-11.1%-12.1%+40.8%
Q4 2019-18.7%-34.7%-47.6%
Q3 2019+1.8%+0.1%-1.4%
Q2 2019+1.4%-0.3%-0.3%
Q1 2019-2.2%-3.6%-3.6%
Q4 2018-4.0%-5.8%-8.0%
Q3 2018-2.9%-1.3%+0.7%
Q2 2018-0.3%-2.1%+2.1%
Q1 2018+4.2%+5.2%+11.5%
Q4 2017+2.7%+2.4%-3.4%
Q3 2017+2.3%+1.7%+6.3%
Q2 2017-1.0%+0.0%+4.4%
Q1 2017-2.0%-3.4%+0.3%
Q4 2016+4.1%+3.7%+6.7%
Q4 2015+0.4%+1.2%+5.8%
Q3 2016+1.6%+2.8%+6.3%
Q2 2016-1.9%-1.7%-3.8%
Q1 2016-0.5%
Q4 2014-0.4%
Q3 2015-5.9%
Q2 2015-1.5%
Q1 2015-0.9%
Q3 2014-2.4%
Q2 2014+7.2%
Q1 2014-0.3%
Q4 2013+0.8%
Q3 2012-3.1%
Q3 2013-3.1%
Q2 2013-0.9%
Q2 2012-0.9%
Q4 2012-1.2%
Q1 2013-1.2%
Q1 2012-1.2%

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