Ready Capital Corporation Earnings Recaps
Q3 2025
Nov 8, 2025
Ready Capital reported a challenging third quarter 2025, marked by a GAAP loss, as the company focused on balance sheet repositioning and improvement in its Small Business Lending operations amidst heightened delinquencies and maturing debt.
Key takeaways
- Successfully repositioned balance sheet; netted $109 million from the sale of low-yielding loans, contributing $0.02 per share in the quarter.
- Increased delinquencies to 5.9% as new core net delinquencies amounted to $40 million; strategic emphasis placed on asset liquidations.
- Small Business Lending operations generated $11 million in net income, with continued growth opportunities despite current market pressures.
- The company is prioritizing the management of $650 million in debt maturing in 2026, with $830 million in unencumbered assets to address obligations.
- Evaluating dividend levels in December based on progress and liquidity management for upcoming maturities.