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Mar 31, 2021
Rocket Companies Q1 2021 Earnings Report
Rocket Companies reported a substantial increase in revenue and net income, driven by growth in closed loan origination volume and gain on sale margin.
Key Takeaways
Rocket Companies reported a significant increase in revenue and net income for Q1 2021. Total revenue, net, grew to $4.6 billion, up 236% year-over-year, and net income increased to $2.8 billion, up 28x year-over-year. The company's closed loan origination volume reached $103.5 billion, a 100% increase compared to Q1 2020.
Total revenue, net, increased to $4.6 billion, up 236% year-over-year.
Net income grew to $2.8 billion, a 28x increase year-over-year.
Closed loan origination volume reached $103.5 billion, up 100% year-over-year.
Gain on sale margin increased by 49 basis points year-over-year to 3.74%.
Revenue by Segment
Forward Guidance
Rocket Companies provided the following outlook for Q2 2021:
Positive Outlook
- Closed loan volume of between $82.5 billion and $87.5 billion.
- Net rate lock volume of between $81.5 billion and $88.5 billion.
- Gain on sale margins of 2.65% to 2.95%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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