Rocket Companies (RKT) Reports Q2 Revenue, Offers Outlook

Rocket Companies (NYSE: RKT) reported Q2 revenue for the quarter of $5.04 billion, may not compare versus the consensus estimate of $3.75 billion.

Third Quarter Outlook

We expect the following ranges compared to the year-earlier period:

• Net rate lock volume of between $93 billion and $98 billion, which would represent an increase of 98% to 108% compared to $47.0 billion in the third quarter of 2019.
• Closed loan volume of between $82 billion and $85 billion, or an increase of 105% to 112% compared to $40.3 billion in the third quarter of 2019.
• Gain on sale margins of 4.05% to 4.30%, which would be an improvement of 23% to 31% compared to 3.29% in the third quarter of 2019.

For earnings history and earnings-related data on Rocket Companies (RKT) click here.

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