EarningsQ2 2026 Earnings Report

Rocket Companies (RKT) Q2 2026 Earnings Report

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Previous Report: Q1 2026

MX:RKT Q2 2026 EPS Results

Actual EPS$2.91

Consensus EPS$2.98

Beat/MissMissed by -$0.07

One Year Ago EPS$0.73

MX:RKT Q2 2026 Revenue Results

Actual Revenue$47.96B

Expected Revenue$51.06B

Beat/MissMissed by -$3.10B

YoY Revenue Growth+102.14%

Earnings Announcement Details

QuarterQ2 2026

Date08/06/2026

TimeAfter Close

Conference CallThursday, August 6, 2026

MX:RKT Upcoming Earnings

Rocket Companies's next earnings date is estimated for October 29, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

MX:RKT Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Aug 06, 2026|

% Change Since:

Earnings Call Sentiment|Positive

Overall the call conveyed a constructive tone: Rocket reported strong operational and financial execution (record profitability in four years, meaningful market share gains, substantial synergies realized, large recurring revenue base, strong liquidity and balance sheet), while clearly acknowledging a challenging macro housing backdrop and near-term revenue softness. Management emphasized durable structural advantages (servicing scale, Redfin funnel, AI-driven productivity, diversified products) that position the company to gain share and expand margins over time despite short-term market headwinds.

Company Guidance

For Q3 Rocket guided adjusted revenue of $2.5–$2.7 billion (management expects the mortgage market to be smaller than Q2 but still sees continued purchase and refinance share gains) and expenses at the midpoint of about $2.35 billion; that expense figure includes roughly $110 million of intangible amortization, $90 million of stock‑based compensation and about $100 million of one‑time acquisition‑related costs, and—excluding those items—expenses are expected to fall roughly $100 million sequentially. Management reiterated integration progress (realizing about $100 million of annualized Mr. Cooper expense synergies this quarter and stating line‑of‑sight to an incremental ~$100 million of annualized savings above the original $400 million target, expected to be realized in H1 2027), and emphasized balance‑sheet and capacity metrics that support the guide: end‑Q2 liquidity of $11.2 billion, net corporate leverage ~0.9x, servicing UPB ~$2 trillion, >$300 billion of origination capacity, and ~$320 billion (26% of owned MSR UPB) at note rates above 6%.

Strong Revenue and Profitability

Adjusted revenue of $2.8B (near midpoint of guidance) and adjusted EBITDA of $766M, representing a 28% adjusted EBITDA margin (up from 26% in Q1). Adjusted diluted EPS increased to $0.16 from $0.15 in Q1 (≈+6.7%), marking the most profitable quarter in four years.

Record Market Share Gains

Purchase market share reached 6.2% (up from 5.5% in Q4 — cited as a 13% increase) and refinance market share reached 14.3% (up from 12.2% — cited as a 17% increase). Company expects continued share gains in Q3 despite a smaller market.

Substantial Origination and Closing Volumes

Total net rate lock volume was $47B and total closed loan volume was $49B in Q2, with direct-to-consumer purchase volume up 45% year-over-year.

Significant Gain-on-Sale Margin Improvement

Gain on sale margin excluding correspondent rose to 311 basis points in Q2 versus 22 basis points in Q1 — a large quarter-over-quarter improvement driving origination economics.

Recurring Revenue and Servicing Scale

More than 70% of revenue is recurring or less rate-sensitive. Servicing generated $1B of steady cash flow in Q2 and the servicing portfolio ended the quarter at $2.0T unpaid principal balance, supporting durable revenue and recapture economics.

Major Synergy Realizations and Cost Discipline

Realized $100M of annualized Mr. Cooper expense synergies this quarter and remain on track for the $400M target by year-end. Management disclosed line of sight to an incremental ~$100M of annualized expense savings above the original goal, expected in H1 2027. Expenses (exclusions) are expected to decline ≈$100M Q/Q into Q3.

Liquidity and Strong Balance Sheet

Ended the quarter with $11.2B of liquidity (up $1.8B from Q1, ≈+19%) and net corporate leverage of 0.9x (≈20% lower since year-end). Refinanced debt via a senior note offering supported by investment-grade rating.

Commercialization of AI and Product Momentum

AI and automation improved lead conversion ~30% over the past year, loan officers are serving nearly 40% more clients vs. one year ago with double-digit conversion improvements, Voice AI handled >1M servicing calls with >50% resolved without a specialist, and Rocket Loans volume nearly doubled year-over-year through the first half with a record month in June.

Redfin and Ecosystem Synergies

Redfin drives top-of-funnel: June mortgage leads from Redfin more than doubled YoY and mortgage attach rate with Redfin agents reached 47%, approaching a 50% synergy target. Redfin now offers 25K exclusive listings; Compass/RocketPro partnership produced >$2B of net rate lock volume.

Home Equity and Cross-Sell Success

Rocket became the nation's largest home equity lender since entry 4 years ago, helping ~250K homeowners access >$24B in home equity — demonstrating successful cross-sell and lifetime-value economics.

MX:RKT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 29, 2026	2026 (Q3)	2.81 / -	1.271	―
Aug 06, 2026	2026 (Q2)	2.98 / 2.91	0.726	300.00% (+2.18)
May 07, 2026	2026 (Q1)	2.09 / 2.72	0.726	275.00% (+2.00)
Feb 26, 2026	2025 (Q4)	1.63 / 2.00	0.726	175.00% (+1.27)
Oct 30, 2025	2025 (Q3)	0.82 / 1.27	1.453	-12.50% (-0.18)
Jul 31, 2025	2025 (Q2)	0.49 / 0.73	1.09	-33.33% (-0.36)
May 08, 2025	2025 (Q1)	0.69 / 0.73	0.726	0.00% (0.00)
Feb 27, 2025	2024 (Q4)	0.51 / 0.73	0	―
Nov 12, 2024	2024 (Q3)	1.45 / 1.45	0	―
Aug 01, 2024	2024 (Q2)	0.89 / 1.09	-0.363	400.00% (+1.45)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed