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Ready Capital (RC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Ready Capital (RC - Free Report) reported $58.98 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 16.4%. EPS of $0.28 for the same period compares to $0.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $76.9 million, representing a surprise of -23.31%. The company delivered an EPS surprise of -22.22%, with the consensus EPS estimate being $0.36.
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.
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: $16.03 million versus the four-analyst average estimate of $14.66 million.
Residential mortgage banking activities, net: $7.06 million compared to the $8.95 million average estimate based on four analysts.
Total non-interest income: $59.59 million versus the four-analyst average estimate of $60.03 million.
Other income: $18.32 million versus the four-analyst average estimate of $17.55 million.
Total interest income: $250.59 million compared to the $249.31 million average estimate based on three analysts.
Income on unconsolidated joint venture: $0.06 million versus $0.63 million estimated by two analysts on average.
Shares of Ready Capital have returned -1.7% over the past month versus the Zacks S&P 500 composite's +1.5% 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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Ready Capital (RC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Ready Capital (RC - Free Report) reported $58.98 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 16.4%. EPS of $0.28 for the same period compares to $0.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $76.9 million, representing a surprise of -23.31%. The company delivered an EPS surprise of -22.22%, with the consensus EPS estimate being $0.36.
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.
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: $16.03 million versus the four-analyst average estimate of $14.66 million.
- Residential mortgage banking activities, net: $7.06 million compared to the $8.95 million average estimate based on four analysts.
- Total non-interest income: $59.59 million versus the four-analyst average estimate of $60.03 million.
- Other income: $18.32 million versus the four-analyst average estimate of $17.55 million.
- Total interest income: $250.59 million compared to the $249.31 million average estimate based on three analysts.
- Income on unconsolidated joint venture: $0.06 million versus $0.63 million estimated by two analysts on average.
View all Key Company Metrics for Ready Capital here>>>Shares of Ready Capital have returned -1.7% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.