Rocket Companies (RKT) Q2 2026 earnings summary

Executive summary

• Achieved the most profitable quarter in four years in Q2 2026, with record market share in both purchase (6.2%) and refinance (14.3%) segments, driven by AI-enabled productivity and successful integration of Redfin and Mr. Cooper.

• End-to-end homeownership platform and expanded digital real estate offerings, leveraging AI to enhance client interactions and operational efficiency.

• Over 70% of revenue now comes from recurring or less rate-sensitive businesses, providing stability.

• Integration synergies from Redfin and Mr. Cooper are ahead of plan, supporting a vertically integrated platform and expense synergies expected by year-end 2026.

Financial highlights

• Q2 2026 adjusted revenue reached $2.8 billion, up 93% year-over-year; total revenue was $2.78 billion.

• Adjusted EBITDA was $766 million (28% margin), and adjusted net income was $441 million; GAAP net income was $229 million.

• Adjusted diluted EPS was $0.16; GAAP diluted EPS was $0.08.

• Closed loan volume grew 69% year-over-year to $49.1 billion.

• Liquidity ended at $11.2 billion, including $3.1 billion in cash and $8.1 billion in undrawn credit lines.

Outlook and guidance

• Q3 2026 adjusted revenue expected between $2.5 billion and $2.7 billion, reflecting a smaller mortgage market.

• Additional $100 million in annualized expense synergies expected by first half of 2027, above the original $400 million target.

• Management expects continued integration benefits from recent acquisitions and ongoing focus on operational efficiency.