Rocket Companies Reports Strong Q3 2026 Results with Revenue Surging to $3.28B
Rocket Companies, Inc.
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Filing Summary
📢 Rocket Companies, Inc. ($RKT) Q3 2026 Earnings Release
• Total Revenue, Net: $3.28B (vs. $1.70B in Q3 2025) • GAAP Net Income: $709M / $0.25 diluted EPS (vs. $(124)M in Q3 2025) • Adjusted Revenue: $2.57B • Adjusted Net Income: $419M / $0.15 adjusted diluted EPS • Adjusted EBITDA: $748M • Total Origination Volume: $43.6B ($33.5B excluding correspondent) • Total Liquidity: $11.4B ($2.7B cash and cash equivalents) • Q4 2026 Outlook: Adjusted revenue expected between $2.1B and $2.3B
Comprehensive Analysis
Executive Summary
On October 29, 2026, Rocket Companies, Inc. (NYSE: RKT) filed a Form 8-K under Items 2.02 and 7.01 to report financial and operating results for the third quarter ended September 30, 2026.
Key Financial Highlights
- Total Revenue, Net: $3,284 million, up 93.7% year-over-year compared to $1,695 million in Q3 2025.
- Adjusted Revenue: $2,574 million compared to $1,873 million in Q3 2025.
- GAAP Net Income: $709 million ($0.25 per diluted share), swinging from a net loss of $124 million ($(0.06) per diluted share) in Q3 2025.
- Adjusted Net Income: $419 million ($0.15 per adjusted diluted share) versus $158 million ($0.07 per adjusted diluted share) in Q3 2025.
- Adjusted EBITDA: $748 million, up 114.3% from $349 million in Q3 2025.
Operational & Segment Performance
- Origination Volumes:
- Total closed mortgage loan origination volume was $43.6 billion ($33.5 billion excluding correspondent).
- Total net rate lock volume was $40.4 billion ($30.4 billion excluding correspondent).
- Direct to Consumer generated $24.6 billion in closed volume and $22.1 billion in net rate locks.
- Rocket Pro generated $9.0 billion in closed volume and $8.2 billion in net rate locks.
- Correspondent generated $10.1 billion in closed volume and $10.0 billion in net rate locks.
- Gain on Sale Margin:
- Excluding correspondent: 3.33% (Direct to Consumer: 4.31%; Rocket Pro: 0.70%).
- Total gain on sale margin was 2.54%.
- Servicing Portfolio:
- Unpaid principal balance (UPB) reached $2.0 trillion across 9.1 million loans serviced.
- Q3 MSR sales totaled $23 billion in UPB, generating $379 million of cash proceeds while retaining subservicing and recapture rights on nearly 70% of the MSRs sold.
- Mortgage Segment Financials: Total net revenue of $2,802 million, adjusted revenue of $2,092 million, and contribution margin of $1,138 million.
Balance Sheet & Liquidity
- Cash and Cash Equivalents: $2.70 billion as of September 30, 2026.
- Total Liquidity: $11.4 billion, including $2.5 billion in undrawn credit lines and $6.2 billion in undrawn available MSR and advance lines.
- MSR Fair Value: $20.26 billion as of September 30, 2026.
Q4 2026 Outlook
- Rocket Companies expects Q4 2026 adjusted revenue in the range of $2.1 billion to $2.3 billion.
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Important Disclaimer
This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
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