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An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

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Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

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Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

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Rocket Companies, Inc.

Rocket Cos., Inc. engages in the provision of a suite of services related to homeownership and other personal financial transactions. It operates through the following segments: Direct to Consumer and Partner Network. The Direct to Consumer segment consists of performance marketing and direct engagement through the Rocket Mortgage App. The Partner Network Segment focuses on partnerships with premier consumer-focused organizations, brokers and mortgage professionals who leverage the platform and scale to provide mortgage solutions to clients. The company was founded by Daniel Gilbert in 1985 and is headquartered in Detroit, MI.

Earnings data Q4 2020

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Earnings data Q1 2022

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Earnings data Q4 2022

Earnings data Q1 2023

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Rocket Companies reports solid Q4 performance amidst market challenges

Rocket Companies navigated challenges in 2022 with resilience, focusing on client engagement and strategic investments to drive growth and enhance market position.
Despite margin impacts in Q4, the company remains optimistic about the mortgage industry outlook, leveraging opportunities in the purchase market and consumer engagement for future success.
With a strong emphasis on client experience and retention, Rocket Companies aims to capitalize on market shifts and strategic initiatives to drive revenue growth and market share expansion.

Rocket Companies reports strong Q1 results and eyes mortgage market

Rocket Companies delivered strong Q1 results and is focused on enhancing the home buying experience through innovative initiatives and client engagement.
Despite challenges in home inventory levels and industry capacity, Rocket's financial strength and unique client approach position them well for growth.
The company's strategic outlook for Q2 revenue, emphasis on client relationships, and opportunities in the mortgage space highlight its resilience and growth potential.

Rocket Companies reports robust Q2 earnings amidst market challenges

Rocket Companies delivered strong financial performance in Q2, focusing on growth, cost-saving measures, and client satisfaction. Despite market challenges, they are optimistic about opportunities in the purchase-driven origination market and potential benefits from new regulations.

Rocket Companies, Inc. reports robust Q3 earnings amidst Q4 challenges

Rocket Companies, Inc. demonstrated strong financial performance in Q3 but anticipates challenges in Q4. Despite margin pressures and industry conditions, Rocket's strategic focus on growth, efficiency, and market positioning bode well for future opportunities and resilience in the market.

Rocket Companies posts strong Q4 results, eyes AI growth opportunities

Rocket Companies delivered robust financial performance in Q4 2023, showcasing revenue growth, expense management, and a focus on core business and home ownership.
The company's strengths lie in its strong balance sheet, innovative products, and strategic positioning in servicing and customer acquisition.
Challenges include industry dynamics, regulatory pressures, and the need for sustained growth amidst market uncertainties.
Opportunities for Rocket include AI-driven enhancements, margin improvements, and strategic investments in marketing and customer retention.

Rocket Companies reports robust Q1 results and AI-driven growth

Rocket Companies, Inc. delivered strong Q1 financial performance with a focus on market share growth, operational efficiencies, and AI-driven innovations.
Challenges include maintaining margins amid rising rates and competition in the servicing asset market, but opportunities lie in volume growth and AI differentiation.
Overall, Rocket's strategic initiatives position it well for continued growth and market share expansion in the mortgage industry.

Rocket Companies exceeds Q2 revenue targets, focuses on AI growth

Rocket Companies delivered strong financial results, exceeding revenue guidance and showcasing growth in market share and efficiency.
Their strategic focus on AI investments and operational efficiency bodes well for future profitability and market expansion.
While facing industry challenges, Rocket Companies remains optimistic and committed to driving growth through innovation and strategic initiatives.

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Rocket Companies, Inc. has experienced a significant decline in sales and a small loss due to rising interest rates in 2022. The company went public in 2020 in a perfectly timed IPO amidst a booming US housing and mortgage market. Rocket Companies is focused on long-term market share gains and cost savings to improve its financial performance.

Rocket Companies: Stabilization, Albeit At Very Low Levels

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Rocket reported higher earnings despite lower revenue and volumes. Rocket's operations are better suited for a refinance-friendly environment.

Here's Why Rocket Is Struggling in the Current Mortgage Environment

Although the revenue and EPS for Rocket Companies (RKT) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Here's What Key Metrics Tell Us About Rocket Companies (RKT) Q2 Earnings

Rocket Companies (RKT) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.03 per share a year ago.

Rocket Companies (RKT) Reports Q2 Loss, Tops Revenue Estimates

Rocket Companies, Inc. (NYSE:RKT ) Q2 2023 Earnings Conference Call August 3, 2023 4:30 PM ET Company Participants Sharon Ng - Vice President of Investor Relations Bill Emerson - Director & Interim Chief Executive Officer Brian Brown - Chief Financial Officer & Treasurer Conference Call Participants Kevin Barker - Piper Sandler Ryan Nash - Goldman Sachs Kyle Joseph - Jefferies Ryan McKeveny - Zelman & Associates Doug Harter - Credit Suisse James Faucette - Morgan Stanley Mihir Bhatia - Bank of America Donald Fandetti - Wells Fargo Operator Hello, my name is Chris and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Rocket Companies, Inc. Second Quarter 2023 Earnings Call.

Rocket Companies, Inc. (RKT) Q2 2023 Earnings Call Transcript

Rocket Companies appoints Varun Krishna as Chief Executive Officer of Rocket Companies and Rocket Mortgage Generated Q2'23 net revenue of $1.236 billion and adjusted revenue of $1.002 billion. Adjusted revenue exceeded the high end of guidance range Reported net income of $139 million, or $0.05 per diluted share Anticipated annualized cost savings of $150 million to $200 million through prioritization and cost reduction measures, as part of ongoing company-wide focus on efficiency DETROIT , Aug. 3, 2023 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), a Detroit-based fintech platform company consisting of tech-driven mortgage, real estate and financial services businesses – including Rocket Mortgage, Rocket Homes, Rocket Loans and Rocket Money – today announced results for the quarter ended June 30, 2023.

Rocket Companies Announces Second Quarter 2023 Results

Rocket Companies (RKT) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Should You Buy Rocket Companies (RKT) Ahead of Earnings?

Highly Accomplished Fintech Executive with Proven Track Record of Delivering Superior Performance and Innovation Bob Walters, Rocket Companies Executive and Rocket Mortgage CEO to Retire Effective September 5 Krishna to Succeed Walters as Rocket Mortgage CEO in dual role; Bill Emerson to Become President and Chief Operating Officer of Rocket Companies DETROIT , July 31, 2023 /PRNewswire/ -- Rocket Companies (NYSE: RKT), a Detroit-based fintech platform company consisting of tech-driven mortgage, real estate and financial services businesses, including Rocket Mortgage, Rocket Homes, Rocket Loans and Rocket Money, today announced that its Board of Directors has appointed accomplished fintech executive Varun Krishna as the company's Chief Executive Officer, effective September 5, 2023. Krishna will succeed Bill Emerson, who has served as interim Chief Executive Officer since June.

Rocket Companies Appoints Varun Krishna Chief Executive Officer

The company has earned 21 total accolades from J.D. Power – including 12 top rankings for mortgage origination – the most of any home lender.

Rocket Mortgage Ranked #1 in the U.S. for Client Satisfaction in Mortgage Servicing by J.D. Power for the 9th Time

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Canada's newest lender will offer end-to-end technology platform, ensuring transparency and speed throughout every step of the homebuying process WINDSOR, ON , July 25, 2023 /PRNewswire/ -- Rocket Mortgage Canada, a digital mortgage broker and part of Rocket Companies (NYSE: RKT), today announced it has also become a mortgage lender – with the goal of helping Canadians easily navigate the complex homebuying journey. To immediately impact the mortgage process, Canada's newest lender will offer a proprietary, tech-driven experience which will help clients close on their home significantly faster than if they used the slower, more traditional paper-heavy process.

Rocket Mortgage Canada Becomes Mortgage Lender - Helping Simplify the Homebuying Experience

DETROIT , July 20, 2023 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), a Detroit-based fintech platform company consisting of tech-driven mortgage, real estate and financial services businesses – including Rocket Mortgage, Rocket Homes, Rocket Loans and Rocket Money – today announced the Company will issue its second quarter 2023 earnings on August 3, 2023. Leadership will host a conference call to discuss results at 4:30 p.m.

Rocket Companies to Announce Second Quarter 2023 Results on August 3

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The real estate market could see higher demand as inflation declines, benefiting Rocket Companies, Inc. and its programs like BUY+ and SELL+. Interest rates are approaching their peak, which may lead to a recovery in the real estate market and increased demand for mortgages. Despite risks associated with Rocket's ONE+ program, improving macroeconomic conditions and potential rate cuts in 2024 make RKT a potential investment.

Rocket Recovery With Expected Increase In Home Buying

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Housing sector valuations and trends suggest holding Pulte, selling Rocket and Redfin, and buying MGIC and AGNC. Factors affecting the housing industry include a housing shortage, low affordability, excellent mortgage credit quality, low interest rates, and a wide spread between mortgage and 10-year Treasury interest rates. Investment opportunities depend on the specific sector within the housing industry and the impact of these trends on each company.

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Navigating the tumultuous housing landscape can be a nerve-racking endeavor for long-term investors. With towering home prices, escalating mortgage rates, and a shrinking inventory, the echoes of a potential housing market crash are difficult to ignore.

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ONE+ offers an exclusive affordable home loan option, with mortgage insurance at no cost to the homebuyer – potentially saving more than 90 million Americans thousands of dollars DETROIT , May 22, 2023 /PRNewswire/ -- Rocket Mortgage , the nation's largest retail home lender and part of Rocket Companies (NYSE: RKT), today introduced ONE+, a new 1% down home loan program that will dramatically increase access to homeownership for millions of low-to-moderate-income earning Americans. With ONE+, a homebuyer is only required to make a down payment of 1% of the purchase price and Rocket Mortgage will cover the remaining 2% needed to reach the required threshold for conventional loans.

Rocket Mortgage Addresses Affordability Challenges with New 1% Down Home Loan Program

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The headline numbers for Rocket Companies (RKT) give insight into how the company performed in the quarter ended March 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, Rocket Companies (RKT) Q1 Earnings: A Look at Key Metrics

Start Time: 16:30 January 1, 0000 5:18 PM ET Rocket Companies, Inc. (NYSE:RKT ) Q1 2023 Earnings Conference Call May 04, 2023, 16:30 PM ET Company Participants Jay Farner - CEO Bill Emerson - Director Brian Brown - CFO and Treasurer Sharon Ng - VP, IR Conference Call Participants Ryan Nash - Goldman Sachs Kevin Barker - Piper Sandler Richard Shane - JPMorgan Donald Fandetti - Wells Fargo Kevin Kaczmarek - Zelman & Associates Operator Good afternoon. My name is David, and I'll be your conference operator today.

Rocket Companies, Inc. (RKT) Q1 2023 Earnings Call Transcript

Rocket Companies (RKT) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to earnings of $0.15 per share a year ago.

News for Rocket Companies, Inc. Stock (RKT)