Ready Capital Q1 GAAP loss $(1.25)/share; balance sheet repositioning generates $1.4B cash

Ready Capital Corp

2026-Q1 EPS reported -$1.25

GAAP loss per common share of $(1.25); distributable loss per share $(1.00).
Generated $1.4B cash from loan sales; paid down $1.1B asset-level financing and $184M corporate debt.
Sold 48 CRE loans totaling $1.0B UPB; 60+ day core delinquencies increased to 14.8%.
Book value $7.43 per share; ended quarter with $200M cash, $730M unencumbered assets.
Initiated sale process for up to $1.2B of loans as last phase of repositioning plan.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ready Capital Corp reported the quarter ended March 31, 2026 results: EPS $(1.25).

Period: the quarter ended March 31, 2026
EPS: $(1.25)
Result: reported results

Exact text from the filing

e material book value pressure of the recent quarters will begin to subside, leaving a lower-leverage platform positioned to restart growth through our core CRE debt investing and SBA 7(a) lending businesses.” Financial Metrics • GAAP loss per common share of $(1.25) • Distributable loss per common share of $(1.00) • Distributable loss per common share before realized losses of $(0.33) Balance Sheet Repositioning • Generated $1.4 billion in cash year-to-date from loan sales and portfolio runoff, paying down over $1.1 billion in asset-level financing and retiring $184 million of corporate debt • Sold 48 CRE loans totaling $1.0 billion in unpaid principal balance across four transactions (66% performing, 34% non- and sub-performing) for net proceeds after asset-level financing paydowns of $177 million • Retired the 5.75% Senior Unsecured Notes in February 2026 and the 6.20% Senior Unsecure

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Source: SEC EDGAR

accession 0001628280-26-032299

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