Rocket Companies(RKT)

Search documents
Rocket Companies(RKT) - 2021 Q1 - Quarterly Report
2021-05-13 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number: 001-39432 Rocket Companies, Inc. (Exact name of registrant as specified in its charter) Indicate by ...
Rocket Companies(RKT) - 2021 Q1 - Earnings Call Transcript
2021-05-06 02:03
Rocket Companies, Inc. (NYSE:RKT) Q1 2021 Earnings Conference Call May 5, 2021 4:30 PM ET Company Participants Sharon Ng - Vice President of Investor Relations Jay Farner - CEO Julie Booth - CFO Bob Walters - President and COO Conference Call Participants Arren Cyganovich - Citi Ryan Nash - Goldman Sachs Doug Harter - Credit Suisse Dennis McGill - Zelman and Associates Mark DeVries - Barclays Mihir Bhatia - Bank of America Operator Good day, and thank you, for standing by. And welcome to the Rocket Compani ...
Rocket Companies(RKT) - 2020 Q4 - Annual Report
2021-03-23 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number: 001-39432 Rocket Companies, Inc. (Exact name of registrant as specified in its charter) Delaware 84-4946 ...
Rocket Companies(RKT) - 2020 Q4 - Earnings Call Transcript
2021-02-26 04:12
Rocket Companies, Inc. (NYSE:RKT) Q4 2020 Earnings Conference Call February 25, 2021 4:30 PM ET Company Participants John Shallcross - Investor Relations Jay Farner - Chief Executive Officer Julie Booth - Chief Financial Officer Bob Walters - President and Chief Operating Officer Conference Call Participants Timothy Chiodo - Credit Suisse James Faucette - Morgan Stanley Ryan Nash - Goldman Sachs Mihir Bhatia - Bank of America Dan Perlin - RBC Arren Cyganovich - Citi Ryan McKeveny - Zelman & Associates Rich ...
Rocket Companies(RKT) - 2020 Q3 - Quarterly Report
2020-11-12 21:47
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number: 001-39432 Rocket Companies, Inc. (Exact name of registrant as specified in its charter) Delaware 8 ...
Rocket Companies(RKT) - 2020 Q3 - Earnings Call Transcript
2020-11-11 04:41
Rocket Companies, Inc. (NYSE:RKT) Q3 2020 Earnings Conference Call November 10, 2020 4:30 PM ET Company Participants Jason McGruder - Vice President, Investor Relations Jay Farner - Chief Executive Officer Julie Booth - Chief Financial Officer Bob Walters - President & Chief Operating Officer Conference Call Participants James Faucette - Morgan Stanley Timothy Chiodo - Credit Suisse Ryan Nash - Goldman Sachs Rich Shane - JPMorgan Ryan McKeveny - Zelman & Associates Matt Roswell - RBC Capital Markets Arren C ...
Rocket Companies(RKT) - 2020 Q2 - Earnings Call Transcript
2020-09-03 02:01
Financial Data and Key Metrics Changes - Rocket Companies achieved record-breaking results in Q2 2020, with adjusted revenue of $5.3 billion and adjusted net income of $2.8 billion, reflecting a 300% year-over-year growth in adjusted revenue [16][24] - The company closed $72.3 billion in loan volume, a 40% increase from Q1 2020 and a 126% increase compared to Q2 2019 [25][12] - Gain on sale margins increased to 5.19% from 3.25% in Q1 2020, indicating significant profitability [13][27] Business Line Data and Key Metrics Changes - The direct-to-consumer channel closed $46.8 billion in loan volume, a 143% year-over-year increase, while the Partner Network contributed $19.7 billion, up 76% from the previous year [25][26] - The mortgage servicing business accounted for 46% of total loan volume, highlighting its importance in overall performance [29] Market Data and Key Metrics Changes - The company noted that approximately 5.1% of its servicing portfolio was on a forbearance plan related to COVID-19 as of June 30, 2020, but trends were improving into Q3 [30] - The U.S. real estate market is recovering, with expectations for strong demand for home loans, particularly in the purchase market [22] Company Strategy and Development Direction - Rocket Companies aims to achieve a 25% market share in the mortgage market by 2030, focusing on long-term growth and investments in technology and brand [35][38] - The company is committed to maintaining its culture and transparency as a public entity, emphasizing long-term strategies over short-term fluctuations [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in consumer sentiment and demand for home loans, driven by record low interest rates [21][22] - The company anticipates Q3 2020 closed loan volume between $82 billion and $85 billion, with gain on sale margins expected to moderate but remain elevated [37] Other Important Information - Rocket Companies has a strong liquidity position with total liquidity of $3.7 billion, including $1 billion in cash [34] - The company is actively involved in community initiatives, such as the Changing the Course initiative in Detroit, aimed at improving digital connectivity [19] Q&A Session Summary Question: How should we think about seasonality in Q4? - Management acknowledged typical seasonality patterns but noted current market conditions could influence expectations [41][44] Question: Can you outline the progression towards the 25% market share target? - Management emphasized a long-term view on growth, with fluctuations expected but a focus on overall market share growth [45][48] Question: What are the expectations for gain on sale margins in the coming quarters? - Management indicated that while margins may moderate, they expect to maintain strong margins due to consumer demand and operational efficiencies [61][65] Question: How does the company handle headcount and turnover? - Management highlighted a unique business model that allows for capacity growth without proportional headcount increases, resulting in strong retention rates [104][105] Question: What is the current UPB on the servicing portfolio? - The servicing portfolio is approximately $400 billion [100]
Rocket Companies(RKT) - 2020 Q2 - Quarterly Report
2020-09-02 21:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ FORM 10-Q Commission file number: 001-39432 Rocket Companies, Inc. (Exact name of registrant as specified in its charter) Delaware 84-494 ...