Ready Capital Corp Earnings Per Share Disclosure
Year Ended December 31, | |||||
(in thousands, except for share and per share amounts) | 2025 | 2024 | 2023 | ||
Basic Earnings | |||||
Net income (loss) from continuing operations | $(215,853) | $(411,999) | $351,245 | ||
Less: Income attributable to non-controlling interest | 7,854 | 5,357 | 8,960 | ||
Less: Income attributable to participating shares | 8,667 | 9,125 | 9,284 | ||
Basic earnings - continuing operations | $(232,374) | $(426,481) | $333,001 | ||
Basic earnings - discontinued operations | $(5,208) | $(18,399) | $(2,834) | ||
Diluted Earnings | |||||
Net income (loss) from continuing operations | (215,853) | (411,999) | 351,245 | ||
Less: Income attributable to non-controlling interest | 7,854 | 5,357 | 8,960 | ||
Less: Income attributable to participating shares | 8,667 | 9,125 | 9,284 | ||
Add: Expenses attributable to dilutive instruments | 524 | 524 | 524 | ||
Diluted earnings - continuing operations | $(231,850) | $(425,957) | $333,525 | ||
Diluted earnings - discontinued operations | $(5,208) | $(18,399) | $(2,834) | ||
Number of Shares | |||||
Basic — Average shares outstanding | 164,544,350 | 169,107,477 | 146,841,594 | ||
Effect of dilutive securities — Unvested participating shares | 2,715,362 | 1,364,796 | 1,725,432 | ||
Diluted — Average shares outstanding | 167,259,712 | 170,472,273 | 148,567,026 | ||
EPS Attributable to RC Common Stockholders: | |||||
Basic - continuing operations | $(1.41) | $(2.52) | $2.27 | ||
Basic - discontinued operations | $(0.03) | $(0.11) | $(0.02) | ||
Basic - total | $(1.44) | $(2.63) | $2.25 | ||
Diluted - continuing operations | $(1.41) | $(2.52) | $2.24 | ||
Diluted - discontinued operations | $(0.03) | $(0.11) | $(0.02) | ||
Diluted - total | $(1.44) | $(2.63) | $2.22 | ||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Mar 15, 2021 | |
| 2019 | Mar 12, 2020 | |
| 2018 | Mar 13, 2019 | |
| 2017 | Mar 16, 2018 | |
| 2015 | Mar 10, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.