Rocket Companies (RKT) investor relations material

Executive summary

• Q1 2026 total revenue, net was $2.94 billion, with adjusted revenue of $2.82 billion, both above guidance.

• GAAP net income reached $297 million, while adjusted net income was $422 million; adjusted EBITDA was $738 million.

• Integration of Mr. Cooper acquisition is ahead of schedule, with over half of the servicing portfolio migrated and $400 million in expense synergies expected by end of 2026.

• AI-driven prospecting and technology initiatives are driving higher conversion rates and incremental loan volume.

Financial highlights

• Q1 2026 GAAP diluted EPS was $0.10, adjusted diluted EPS was $0.15, both up from losses in Q1 2025.

• Total expenses were $2.54 billion, up from $1.32 billion year-over-year.

• Total liquidity stood at $9.4 billion, including $2.7 billion in cash and $6.7 billion in undrawn credit lines.

• Servicing portfolio unpaid principal balance reached $2.1 trillion, covering 9.4 million loans.

Outlook and guidance

• Q2 2026 adjusted revenue is expected between $2.7 billion and $2.9 billion.

• Full $400 million expense synergy from Mr. Cooper acquisition anticipated by end of 2026, a year ahead of plan.