Rocket Companies (RKT) Q3 2026 Earnings Report
MX:RKT Q3 2026 EPS Results
- Actual EPS
- MXN 2.82
- Consensus EPS
- MXN 2.54
- Beat/Miss
- Beat by +MXN 0.28
- One Year Ago EPS
- MXN 1.32
MX:RKT Q3 2026 Revenue Results
- Actual Revenue
- MXN 45.14B
- Expected Revenue
- MXN 48.49B
- Beat/Miss
- Missed by -MXN 3.35B
- YoY Revenue Growth
- +34.19%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/29/2026
- Time
- After Close
- Conference Call
- Thursday, October 29, 2026
Rocket Companies's next earnings date is estimated for February 25, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly positive on Rocket's execution and strategic positioning. The company reported higher margins, market share gains, record liquidity, strong servicing and recapture performance, technology adoption, and expense synergies ahead of schedule. These positives were set against a severe mortgage downturn, sharply higher rates, declining applications, and a materially weaker fourth-quarter and potentially 2027 market outlook. Management expressed confidence that its business model and balance sheet are prepared for the difficult conditions.
For the fourth quarter, Rocket expects adjusted revenue to be between $2.1 billion and $2.3 billion, with continued share gains; at the midpoint of the revenue range, it expects total expenses of $2.05 billion, including $110 million of intangible amortization, $80 million of stock based compensation, and $10 million of 1-time integration costs, or $1.85 billion excluding these items, a decline of $165 million from the third quarter. The company expects to realize the remaining $100 million of annualized Mr. Cooper expense synergies in the fourth quarter, reaching the full $400 million, a year ahead of the original timeline, and expects an additional $100 million in annual savings in the first half of 2027. Management expects the refinance market to decline by almost half from the third quarter, with overall mortgage activity near multi decade lows; seasonality is usually 15 to 18% down on a historical basis when comparing Q4 to Q3, and refinance volume could see a 50% decrease going into Q4, making it could be 1 of our lowest origination quarters in 3 decades. For 2027, forecasts are below $2 trillion, and Rocket thinks it could actually be even smaller still.
- Strong Q3 Financial Results Despite a Difficult MarketAdjusted revenue was $2.6 billion, near the midpoint of guidance. Adjusted EBITDA was $748 million, with a 29% margin versus 28% in the prior quarter, marking the fourth consecutive quarter of margin expansion and the highest margin since the fourth quarter of 2021. Adjusted net income was $419 million and adjusted diluted EPS was $0.15. On a GAAP basis, revenue was $3.3 billion and net income was $79 million, or $0.25 per diluted share.
- Market Share Gains in Purchase and RefinanceRocket grew share in both purchase and refinance markets. Estimated purchase market share approached 6.5%, up from 6.2% in the second quarter, while refinance share reached 15.5%, up from 14.3%. The company said it remains on track toward its goals of 8% purchase share and 20% refinance share.
- Q3 Origination VolumeRocket generated $40.4 billion in net rate lock volume and $43.6 billion in closed loan volume during the quarter.
- Rocket Local Expansion and Purchase DistributionRocket Local volume grew more than 30% year over year, and the team expanded to more than 400 loan officers across major metropolitan areas. The company said Rocket Local is contributing meaningfully to purchase growth.
- Redfin and Compass Channel MomentumVisitors who clicked through Redfin listings to start a purchase mortgage transaction increased 50% year over year, while Redfin refinance leads more than doubled year over year in the quarter. Compass cumulative unique listings reached nearly 40,000, up from roughly 25,000 in the prior quarter, and Rocket Pro net rate lock volume through Compass exceeded $3 billion since February, up 50% from the prior quarter. One in five purchase clients is represented by a Redfin or Compass agent.
- Wholesale Partner GrowthRocket added roughly 200 new Rocket Pro partners over the last few months, representing approximately $12 billion in potential annual volume. Management said more than 200 brokers activated with Rocket over the last quarter, a record level.
- Servicing Scale and Recurring RevenueRocket is the largest servicer in the country, with $2 trillion of unpaid principal balance across 9.1 million clients. Servicing generated more than $1 billion of fee income in the third quarter, described as more than $4 billion annually and triple the level of three years ago.
- Record Recapture PerformanceRecapture across the combined servicing portfolio reached the highest level in Rocket's history and improved for the fourth consecutive quarter. Management said recapture rates are multiple times higher than the industry and that legacy Mr. Cooper portfolio recapture was ahead of the original target timeline.
- Home Equity and Cash-Out StrengthHome equity volume reached a record, while cash-out refinance volume remained healthy. Approximately two-thirds of year-to-date home equity clients also have their first mortgage serviced by Rocket. Management said home equity and cash-out products remained productive and contributed to higher gain-on-sale margins.
- Improved Gain-on-Sale MarginsGain-on-sale margin excluding correspondent increased to 333 basis points from 311 basis points in the prior quarter. Management attributed the improvement to a higher mix of home equity volume, which carries higher gain-on-sale margins.
- AI-Enabled Credit and Digital Refinance AdoptionAI completed the credit-pull step before a client spoke with a loan officer on nearly 20% of direct-to-consumer volume, versus zero a year ago. Digital refinance applications represented more than 40% of direct-to-consumer refinance applications in Q3, and digital leads converted at four times the rate of other channels.
- AI Voice Agent DeploymentAI voice agents handled 65% of inbound servicing calls and resolved more than half of those calls independently. Management said the technology allows clients to receive answers in seconds while employees focus on work where humans excel.
- Agentic Mortgage Technology InvestmentRocket said it built the APIs and protocols required for third-party AI agents to complete the mortgage process end to end. The company is also building Rowan with Anthropic and has partnered on Meta's personal agent protocol.
- Technology-Driven Capacity and Cost StructureRocket said its technology platform has enabled more than $300 billion of origination capacity without adding fixed costs. Management described its technology as supporting an industry-leading cost to originate and service and said AI is being deployed across origination and servicing.
- Expense Synergies Ahead of ScheduleTotal expenses were $2.3 billion, down $175 million from the second quarter. Rocket realized approximately $300 million of the targeted $400 million in Mr. Cooper expense synergies through Q3 and expects to achieve the remaining $100 million of annualized savings in Q4, reaching the full target one year ahead of the original timeline. The company also expects an additional $100 million of annual savings in the first half of 2027.
- Record Liquidity and Balance Sheet StrengthRocket ended the quarter with record liquidity of $11.4 billion, including $2.7 billion of cash. Net corporate leverage was below one turn, and management said Rocket is the only independent mortgage company with an investment-grade rating.
- MSR Acquisition and Servicing OptionalityManagement said MSR acquisitions remain a good use of capital and that Rocket continues to evaluate correspondent, bulk, co-issue, and other acquisition channels. The company retained servicing and recapture capabilities on the vast majority of certain low-WAC portfolios that it sold.
- Continued Investment Through the CycleRocket said it has the capital to continue investing in its technology platform, servicing portfolio, ecosystem, distribution, brand, and talent while other lenders may pull back.
MX:RKT Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 25, 2027 | 2026 (Q4) | 2.07- | 2.07 | ― | ― |
| Oct 29, 2026 | 2026 (Q3) | 2.542.82 | 1.32 | 114.29% (+1.50) | |
| Aug 06, 2026 | 2026 (Q2) | 3.083.01 | 0.75 | 300.00% (+2.26) | |
| May 07, 2026 | 2026 (Q1) | 2.162.82 | 0.75 | 275.00% (+2.07) | |
| Feb 26, 2026 | 2025 (Q4) | 1.692.07 | 0.75 | 175.00% (+1.32) | |
| Oct 30, 2025 | 2025 (Q3) | 0.851.32 | 1.5 | -12.50% (-0.19) | |
| Jul 31, 2025 | 2025 (Q2) | 0.510.75 | 1.13 | -33.33% (-0.38) | |
| May 08, 2025 | 2025 (Q1) | 0.710.75 | 0.75 | 0.00% (+0.00) | |
| Feb 27, 2025 | 2024 (Q4) | 0.530.75 | 0 | ― | |
| Nov 12, 2024 | 2024 (Q3) | 1.501.50 | 0 | ― |
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.
