NYSE$RKT
Rocket Companies Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Rocket Companies reported strong third-quarter results with increased adjusted revenue and expanded market share.
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.
Headline financials
Revenue & EPS history
Rocket Companies · Revenue · Quarterly
$6.75M
Revenue by segment
Rocket Companies · $1.1B total across 2 segments · Q3 2023
- Direct to Consumer$979M-12.1%88.8%
- Partner Network$123M+25.5%11.2%
Forward guidance
For Q4 2024, Rocket Companies expects adjusted revenue between $1.05 billion and $1.2 billion.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2024
+0.6%
Avg return
Earnings day
+5.6%
Avg return
5 days after
+2.2%
Avg return
30 days after
50%
12 / 24 earnings
Positive
+14.8%
Q3 2023
Best reaction
-15.5%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.4% | -14.9% | -20.1% | |
| Q4 2025 | +2.4% | -6.4% | -23.1% | |
| Q3 2025 | +6.0% | +2.3% | +25.3% | |
| Q2 2025 | +0.0% | +11.4% | +21.8% | |
| Q1 2025 | -4.7% | +8.2% | +9.6% | |
| Q4 2024 | +9.1% | +16.1% | +1.6% | |
| Q3 2024 | -10.3% | -13.7% | -20.6% | |
| Q2 2024 | +6.5% | +13.2% | +21.4% | |
| Q1 2024 | +7.6% | +13.1% | +12.5% | |
| Q4 2023 | +5.1% | +8.6% | +28.5% | |
| Q3 2023 | +14.8% | +8.5% | +31.2% | |
| Q2 2023 | +8.5% | +10.4% | +2.1% | |
| Q1 2023 | -2.2% | -4.3% | -4.2% | |
| Q4 2022 | +1.9% | +9.6% | +11.5% | |
| Q3 2022 | -4.5% | -0.6% | +27.2% | |
| Q2 2022 | -2.9% | -6.0% | -25.7% | |
| Q1 2022 | -11.9% | -3.5% | -0.6% | |
| Q4 2021 | +10.4% | +20.8% | -6.1% | |
| Q3 2021 | -2.4% | -4.3% | -10.9% | |
| Q2 2021 | +9.4% | +2.0% | -5.7% | |
| Q1 2021 | -15.5% | -21.5% | -12.1% | |
| Q4 2020 | +7.5% | +104.7% | +17.7% | |
| Q3 2020 | -1.8% | +1.9% | -3.0% | |
| Q2 2020 | -13.7% | -20.0% | -25.1% | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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