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Dec 31, 2023
Rocket Companies Q4 2023 Earnings Report
Rocket Companies reported Q4 2023 results with a net revenue of $694 million and an adjusted revenue of $885 million. The company experienced a GAAP net loss of $233 million, or $(0.09) per share, and an adjusted net loss of $6 million, or $0.00 per share.
Key Takeaways
Rocket Companies reported Q4 2023 net revenue of $694 million and adjusted revenue of $885 million, exceeding the high end of guidance. The company had a GAAP net loss of $233 million, or $(0.09) per share, and an adjusted net loss of $6 million, or $0.00 per share. Despite a challenging year for mortgage originations, Rocket Companies achieved positive adjusted EBITDA for the third consecutive quarter and increased its market share.
Generated Q4'23 net revenue of $694 million and adjusted revenue of $885 million, exceeding guidance.
Reported Q4'23 GAAP net loss of $233 million, or $(0.09) per GAAP diluted loss per share and adjusted net loss of $6 million or $0.00 per adjusted diluted loss per share.
Gain on sale margin was 2.68%, a 51 bps increase over the same period the prior year.
Total liquidity was approximately $9.0 billion, as of December 31, 2023, which includes $1.1 billion of cash on the balance sheet, and $2.5 billion of corporate cash used to self-fund loan originations, $3.4 billion of undrawn lines of credit, and $2.0 billion of undrawn MSR lines of credit.
Revenue by Segment
Forward Guidance
In Q1 2024, we expect adjusted revenue of between $925 million to $1,075 million.
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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