Quarterly ResultMay 7, 2026, 05:27 PM
Rocket Companies Q1 Revenue $2.94B; GAAP Net Income $297M
AI Summary
Rocket Companies announced strong first-quarter 2026 results, with total revenue, net, reaching $2.94 billion and GAAP net income of $297 million, a significant improvement from the prior year. Adjusted revenue of $2.82 billion surpassed guidance. The company highlighted accelerated integration of the Mr. Cooper acquisition, expecting $400 million in expense synergies a year earlier than planned, and successful AI initiatives adding $1 billion in monthly volume.
Key Highlights
- Generated Q1 2026 total revenue, net, of $2.94 billion, up from $1.101 billion in Q1 2025.
- Reported Q1 2026 GAAP net income of $297 million, compared to a net loss of $(212) million in Q1 2025.
- Achieved Q1 2026 adjusted revenue of $2.82 billion, exceeding the high end of guidance.
- Delivered Q1 2026 adjusted EBITDA of $738 million, a substantial increase from $169 million in Q1 2025.
- Mr. Cooper acquisition integration is ahead of schedule, with $400 million expense synergies expected by end of 2026.
- AI prospecting initiatives added an incremental $1 billion in monthly volume, building on previous gains.
- Home equity and jumbo loans more than doubled year-over-year in Q1 2026.
- Forecasts Q2 2026 adjusted revenue between $2.7 billion and $2.9 billion.