Core Insights - Rocket Companies reported a revenue of $1.19 billion for the quarter ended December 2024, marking a 71.1% increase year-over-year, with an EPS of $0.04 compared to $0.00 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $1.16 billion, resulting in a surprise of +2.62%, while the EPS also surpassed expectations by +33.33% [1] Revenue Breakdown - Loan servicing income from servicing fees was $387.95 million, exceeding the average estimate of $378.79 million, reflecting an 11.6% year-over-year increase [4] - The change in fair value of mortgage servicing rights (MSRs) reported a revenue of $356.06 million, contrasting sharply with the average estimate of -$191.80 million, indicating a significant year-over-year decline of -199.5% [4] - Other income reached $292.49 million, surpassing the estimated $256.69 million, representing a 25.8% increase from the previous year [4] - Gain on sale of loans, net, was reported at $710.74 million, slightly above the average estimate of $706.49 million, showing a year-over-year increase of 65.2% [4] - Net loan servicing income was $744.02 million, significantly higher than the average estimate of $187.19 million, but reflecting a drastic year-over-year decline of -7465.1% [4] - Interest income, net, was $22.16 million, slightly above the estimated $21.76 million, but down 46.2% compared to the previous year [4] Stock Performance - Over the past month, shares of Rocket Companies have returned +5.5%, contrasting with a -2.2% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the broader market in the near term [3]

分组1 - Rocket Companies reported quarterly earnings of $0.04 per share, exceeding the Zacks Consensus Estimate of $0.03 per share, compared to break-even earnings per share a year ago, representing an earnings surprise of 33.33% [1] - The company posted revenues of $1.19 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.62%, and this is an increase from year-ago revenues of $693.81 million [2] - Rocket Companies has outperformed the S&P 500, with shares adding about 16.2% since the beginning of the year, compared to the S&P 500's gain of 1.3% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $0.09 on $1.3 billion in revenues, and for the current fiscal year, it is $0.58 on $5.98 billion in revenues [7] - The Zacks Industry Rank indicates that the Financial - Mortgage & Related Services industry is currently in the bottom 44% of over 250 Zacks industries, suggesting potential underperformance compared to the top 50% [8]

Financial Performance - Rocket Companies reported Q4 2024 total revenue of $1.8 billion, a 155% increase from $694 million in Q4 2023, and full year revenue of $5.1 billion, representing a 34% year-over-year growth[4][8]. - The company achieved a GAAP net income of $649 million in Q4 2024, compared to a loss of $233 million in Q4 2023, and a full year GAAP net income of $636 million, reversing a loss of $390 million in FY 2023[4][8]. - Total revenue for the fourth quarter of 2024 reached $1,769 million, a significant increase of 155.5% compared to $694 million in the same quarter of 2023[24]. - Adjusted revenue for Q4 2024 was $1,187 million, compared to $885 million in Q4 2023, marking a 34% increase[29]. - Total revenue for the year ended December 31, 2024, was $5,101 million, up from $3,799 million in 2023, representing a 34% increase[29]. - Adjusted revenue for the year ended December 31, 2024, was $4,902 million, up from $3,770 million in 2023, reflecting a growth of 29.9%[27]. Loan Origination and Volume - Closed loan origination volume for Q4 2024 was $27.8 billion, a 61% increase year-over-year, while full year closed loan origination volume reached $101.2 billion, a 29% increase compared to FY 2023[4][8]. - Rocket Mortgage's net rate lock volume for Q4 2024 was $23.6 billion, a 47% increase from the prior year, with full year net rate lock volume at $100.8 billion, a 28% increase year-over-year[4][8]. - Home equity loan volume more than doubled year-over-year in 2024, reinforcing Rocket Mortgage's position as the largest originator of closed-end second mortgages in the U.S.[10]. Profitability and Margins - The gain on sale margin for Q4 2024 was 2.98%, an increase of 30 basis points compared to Q4 2023, while the full year gain on sale margin was 2.95%, up 32 basis points year-over-year[4][8]. - The company reported a contribution margin of $460 million for the fourth quarter of 2024, compared to $340 million in the same quarter of 2023, indicating an increase of 35.3%[27]. - Adjusted net income for Q4 2024 was $85 million, compared to a loss of $6 million in Q4 2023, indicating a positive turnaround[31]. - Adjusted net income for the year ended December 31, 2024, was $456 million, compared to a loss of $143 million in 2023, showing a strong recovery[31]. Liquidity and Assets - The company reported a total liquidity position of $8.2 billion as of December 31, 2024, which includes $1.3 billion in cash and $1.6 billion in corporate cash for loan originations[4][18]. - Cash and cash equivalents increased to $1,273 million in 2024 from $1,108 million in 2023, representing a growth of 14.9%[19]. - The total assets of the company grew to $24,510 million in 2024, up from $19,232 million in 2023, reflecting a growth of 27.5%[26]. - Funding facilities rose significantly to $6,708 million in 2024, compared to $3,367 million in 2023, an increase of 99.5%[19]. - The company’s total equity increased to $9,043 million in 2024 from $8,302 million in 2023, representing a growth of 8.9%[19]. Customer Metrics and Satisfaction - Rocket Companies' net client retention rate was 97% for the year ended December 31, 2024, indicating strong customer loyalty and lifetime value[8]. - Rocket Mortgage has been ranked 1 in client satisfaction for primary mortgage origination and mortgage servicing by J.D. Power a total of 22 times, the highest among mortgage lenders[47]. Future Outlook - The company expects adjusted revenue for Q1 2025 to be between $1.175 billion and $1.325 billion[12]. - The effective income tax rate for Q4 2024 was 24.32%, slightly lower than 24.47% in Q4 2023[32]. Technology and Innovation - The company launched Rocket.com and its mobile apps in February 2025, integrating home search, financing, and mortgage servicing into a single platform powered by AI[10]. - Rocket Companies processes over 65 million call logs annually, managing 10 petabytes of data[47].

Core Insights - Rocket Companies reported a strong performance in 2024, achieving $4.9 billion in adjusted revenue, a 30% increase year-over-year, and $5.1 billion in total revenue, reflecting a 34% growth compared to 2023 [2][6][7] Financial Performance - In Q4 2024, total revenue was $1.8 billion, with adjusted revenue at $1.2 billion, marking a significant increase from $694 million and $885 million in Q4 2023, respectively [3][6] - The company reported a GAAP net income of $649 million in Q4 2024, compared to a loss of $233 million in Q4 2023, resulting in GAAP diluted earnings per share of $0.23 [3][6] - For the full year 2024, GAAP net income was $636 million, or $0.21 per diluted share, compared to a loss of $390 million in 2023 [6][7] Loan Origination and Market Share - Rocket Mortgage achieved a closed loan origination volume of $27.8 billion in Q4 2024, a 61% increase from $17.3 billion in Q4 2023 [3][7] - The net rate lock volume for Rocket Mortgage reached $23.6 billion in Q4 2024, a 47% increase year-over-year [7] - The company's purchase market share grew by 8% in 2024, driven by strategic optimizations [7] Technology and Innovation - The launch of Rocket.com and the Rocket mobile apps aims to enhance the homeownership experience by integrating home search, financing, and mortgage servicing [7] - Rocket Logic, an AI-driven loan origination system, improved client interactions and underwriting efficiency, allowing a 54% increase in clients served year-over-year in Q4 [7] Liquidity and Financial Position - As of December 31, 2024, Rocket Companies had total liquidity of $8.2 billion, including $1.3 billion in cash and $1.6 billion in corporate cash for self-funding loan originations [7][13] - The servicing portfolio's unpaid principal balance was $593 billion, with a 17% year-over-year increase [7] Community Engagement and Corporate Responsibility - The Rocket Giving Fund raised $1.5 million in 2024, contributing to local Detroit nonprofits and supporting digital inclusion initiatives [14] - The Rocket Community Challenge set a new fundraising record of $1.6 million, supporting various causes [14]

Core Insights - Rocket Mortgage has launched RocketRentRewards, the first program in the mortgage industry to offer up to $5,000 in closing cost credits for renters [1][3] - The program allows homebuyers to earn 10% back on the last 12 months of rental payments, translating to an average of $2,160 applied toward closing costs based on the national average rent of $1,800 [2][3] - The initiative aims to support aspiring homeowners, particularly in underserved communities, by converting rental payments into financial savings [3] Company Overview - Rocket Mortgage is the largest mortgage lender in the U.S. and part of Rocket Companies (NYSE: RKT), having closed over $1.8 trillion in mortgage volume since its founding in 1985 [7] - The company has been recognized for client satisfaction, ranking 1 in both primary mortgage origination and servicing by J.D. Power 22 times [8] - Rocket Mortgage emphasizes a digital-driven client experience, having introduced the first fully digital mortgage process in late 2015 [7] Program Details - RocketRentRewards allows verification of rent payments through documentation, with credits directly applied to closing costs once validated [4] - The program is part of Rocket's Own the Dream campaign, which aims to unite Americans in the pursuit of homeownership [5] - The launch of Rocket.com provides an all-in-one platform for consumers to search, purchase, and manage home financing, including personalized options like RocketRentRewards [5]

Core Viewpoint - Rocket Companies, Inc. is set to announce its fourth quarter and full year 2024 earnings on February 27, 2025, with a conference call scheduled to discuss the results [1]. Company Overview - Rocket Companies, founded in 1985, is a Detroit-based fintech platform that encompasses mortgage, real estate, and personal finance businesses, including Rocket Mortgage, Rocket Homes, Rocket Close, Rocket Money, and Rocket Loans [3]. - The company handles over 65 million call logs annually and manages 10 petabytes of data, emphasizing its mission to "Help Everyone Home" [4]. Client Satisfaction - Rocket Mortgage has been recognized for exceptional client experiences, having been ranked 1 in client satisfaction for primary mortgage origination and mortgage servicing by J.D. Power a total of 22 times, the highest among mortgage lenders [4].

Core Insights - Rocket Companies launched its "Own the Dream" integrated marketing campaign during Super Bowl LIX, featuring a live singalong that united millions of Americans [1][3] - The 60-second ad, set to a reimagined version of John Denver's "Take Me Home, Country Roads," emphasizes the emotional significance of home and the journey of homeownership [2][4] - The campaign aims to make homeownership more accessible for Americans, reflecting Rocket's mission and 40-year legacy in the industry [5] Company Overview - Rocket Companies, founded in 1985, is a Detroit-based fintech platform that includes various businesses such as Rocket Mortgage, Rocket Homes, Rocket Close, Rocket Money, and Rocket Loans [6] - The company handles over 65 million call logs annually and utilizes 10 petabytes of data to enhance homeownership experiences [7] - Rocket Mortgage has been ranked 1 in client satisfaction for primary mortgage origination and servicing by J.D. Power a total of 22 times, the highest among mortgage lenders [7]

Rocket Companies unites and streamlines the end-to-end homeownership process with Rocket Mortgage and Rocket Homes DETROIT, Jan. 22, 2025 /PRNewswire/ -- Rocket Companies (NYSE: RKT), the Detroit-based fintech platform company consisting of mortgage, real estate and personal finance businesses, today announced the launch of Rocket.com. Rocket.com empowers consumers to search, purchase and manage their home financing with an intuitive, AI-driven experience, simplifying every step of the homeownership journey ...

The announcement marks the first phase of Rocket's brand restage, set to be fully revealed during the company's return to the Super Bowl CLICK HERE TO FIND A GALLERY OF IMAGES SHOWING THE NEW VISUAL IDENTITY DETROIT, Jan. 14, 2025 /PRNewswire/ -- Rocket Companies (NYSE: RKT), the Detroit-based fintech platform company consisting of mortgage, real estate and personal finance businesses, today unveiled a bold refresh to its brand identity. Designed to position Rocket as one of the most inclusive brands in Ame ...

The company also filed a motion to dismiss the claim the Department of Justice brought against the company DOJ's recent claim against Rocket Mortgage misplaced blame on the Company for work done by an independent appraiser hired by an independent appraisal management companyDETROIT, Dec. 5, 2024 /PRNewswire/ -- Rocket Mortgage, the nation's largest mortgage lender and a part of Rocket Companies (NYSE: RKT), filed suit in Federal District Court against the United States Department of Housing and Urban Devel ...