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Sep 30, 2024
Rocket Companies Q3 2024 Earnings Report
Rocket Companies reported strong third-quarter results with increased adjusted revenue and expanded market share.
Key Takeaways
Rocket Companies reported a mixed Q3 2024 with a GAAP net loss of $481 million but an adjusted net income of $166 million. The company saw a 32% year-over-year increase in adjusted revenue and the highest adjusted EBITDA in two years, driven by growth in purchase and refinance market share.
Total revenue was $647 million, and adjusted revenue reached $1.323 billion, exceeding guidance.
GAAP net loss was $481 million, or $0.19 loss per diluted share, while adjusted net income was $166 million, or $0.08 adjusted diluted earnings per share.
Adjusted EBITDA reached $286 million, the highest in two years.
Closed loan origination volume was $28.5 billion, a 28% increase year-over-year.
Revenue by Segment
Forward Guidance
For Q4 2024, Rocket Companies expects adjusted revenue between $1.05 billion and $1.2 billion.
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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