10-Q · May 11, 2026
Rocket Companies, Inc. reported strong Q1 2026 results with revenues of $2.94 billion and earnings per share (EPS) of $0.15, surpassing analyst estimates. The firm also originated $44.7 billion in residential mortgage…
Earnings analysis · 10-Q
RKT earnings analysis
Filed October 30, 2026 · Our reading of the company's report
The latest report
Rocket reported Q3 adjusted EPS of $0.15 versus a $0.13 consensus estimate, while revenue of $2.574 billion declined sequentially from $2.78 billion but increased materially year over year from $1.7 billion. Adjusted…
Read full summary
Rocket reported Q3 adjusted EPS of $0.15 versus a $0.13 consensus estimate, while revenue of $2.574 billion declined sequentially from $2.78 billion but increased materially year over year from $1.7 billion. Adjusted net income of $419 million and adjusted EBITDA of $748 million were substantially above the $158 million and $349 million reported in Q3 2025. The supplied 10-Q excerpt contains no balance-sheet, cash-flow, segment, margin, or numeric guidance detail, and states that there were no material changes to previously disclosed risk factors.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.15
What stood out
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Adjusted EPS beat estimates
Q3 adjusted EPS was $0.15, above the $0.13 consensus estimate, a $0.02 or 15.4% beat.
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Revenue up sharply year over year
Revenue was $2.574 billion, down from $2.78 billion in Q2 2026, a sequential decline of approximately 7.4%, but up from $1.7 billion in Q3 2025, an increase of approximately 51.4%.
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Profitability improved materially
Adjusted net income increased to $419 million from $158 million in Q3 2025, while adjusted EBITDA rose to $748 million from $349 million.
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Controls remain effective
Management reported that disclosure controls were effective as of September 30, 2026, and that there were no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls.
What to watch
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No new risk factors, but litigation remains uncertain
The company stated there were no material changes or additions to the risk factors in its 2025 Form 10-K, meaning 0 material risk-factor changes were identified in this 10-Q. The filing nevertheless reiterates that legal matters could have a material adverse effect, although management does not expect pending or threatened matters to have a material adverse effect.
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Lower sequential revenue outlook
Revenue is expected to decline to $2.1 billion-$2.3 billion in Q4 2026 from $2.574 billion in Q3 2026, implying a sequential decline of approximately 10.7%-18.4%; this outlook was provided in the earnings release rather than the supplied 10-Q excerpt.
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Limited visibility into revolving facility
The filing identifies a revolving credit agreement dated July 16, 2026, and notes that certain portions were redacted; the excerpt does not provide the facility size, outstanding balance, or borrowing terms, limiting assessment of liquidity and refinancing risk.
Management's outlook
The provided 10-Q text does not include quantitative guidance. Q4 adjusted revenue guidance of $2.1 billion-$2.3 billion was disclosed in the October 29, 2026 earnings release/8-K, rather than in the supplied 10-Q excerpt.
Earlier filings 4
10-K · March 2, 2026
Rocket Companies, Inc. successfully navigated a transformative year in 2025, resulting in significant growth driven by acquisitions. Despite a net loss of $234 million for the year, driven mostly by increased expenses…
10-Q · November 6, 2025
Rocket Companies, Inc. reported a strong Q3 2025 with revenue of $1.783 billion, surpassing estimates and showcasing an improvement in gross margin compared to previous periods. Management pointed to increased mortgage…
10-Q · August 8, 2025
Rocket Companies, Inc. (RKT) reported a mixed Q2 2025 performance, with revenue increasing to $1.45 billion from $1.38 billion in Q2 2024, while experiencing a decline in net income. The company's significant…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.