Rocket Posts Net Profit of $709 Million and Net Revenue of $3.284 Billion in Q3
Key Facts
Rocket Companies reported on October 29 net income of $709 million in the third quarter of 2026, compared with a net loss of $124 million a year earlier, and net revenue of $3.284 billion. The company said adjusted revenue was $2.574 billion, versus $1.873 billion in the same period of 2025. Results also showed adjusted net income rising to $419 million from $158 million. Diluted earnings per share under U.S. accounting standards were $0.25, after a loss of $0.06 a year earlier. The results were for the period ended September 30, amid year-on-year improvement in revenue and earnings.
Net revenue of $3.28 billion exceeded analysts’ consensus estimate of $2.59 billion, according to Reuters coverage published via Investing.com. Adjusted earnings per share of $0.15 also topped analysts’ estimate of $0.14. The company’s shares closed at $11.92 on October 29, according to the same coverage. Net revenue differs from the $2.574 billion in adjusted revenue reported by the company. The company’s reconciliation between the two measures includes changes in the fair value of mortgage servicing rights and liabilities.
Year on year, net revenue rose from $1.695 billion to $3.284 billion, while adjusted revenue increased from $1.873 billion to $2.574 billion. Adjusted earnings before interest, taxes, depreciation and amortization rose to $748 million, compared with $349 million in the third quarter of 2025. Adjusted diluted earnings per share were $0.15, compared with $0.07 a year earlier. These indicators reflect broader improvement in results beyond the shift from a loss to a profit under U.S. accounting standards. Adjusted net income also rose from $158 million to $419 million over the same period.
In its lending business, Rocket recorded $43.6 billion in closed mortgage loan volume during the quarter, including $33.5 billion excluding correspondent loans. Net rate lock volume was $40.4 billion. Chief Executive Officer Varun Krishna said the company gained market share in home purchase and refinancing on both a quarterly and annual basis. He added that the company achieved "its highest profit margin in nearly five years." Krishna said this came despite mortgage rates reaching a three-year high during the quarter.
The company’s business is also supported by a broad servicing portfolio: unpaid principal balance in the portfolio was $2.0 trillion, across 9.1 million loans as of September 30. During the quarter, Rocket sold servicing rights tied to loans with a $23 billion principal balance, receiving $379 million in cash. The company had $11.4 billion in available liquidity at the end of September. This included $2.7 billion in cash and equivalents, $2.5 billion in undrawn credit lines, and $6.2 billion in available lines backed by mortgage servicing rights and advances. These figures combine the size of the existing portfolio with the company’s available sources of liquidity.
Results from the previous quarter show net revenue of $2.784 billion in the second quarter of 2026, compared with $1.451 billion in the second quarter of 2025. Net income under U.S. accounting standards in the second quarter was $229 million, compared with $34 million a year earlier. On that basis, third-quarter net revenue rose from the second quarter, according to the figures published for both periods. But a comparison between adjusted revenue in the third quarter and the previous quarter is not available in the figures presented here. The third-quarter year-on-year comparison remains clear, with adjusted revenue and net income both higher.
For the fourth quarter, Rocket forecast adjusted revenue of $2.1 billion to $2.3 billion, a range below its adjusted revenue of $2.574 billion in the third quarter. The guidance sets the company’s expectations for the next period after results showed year-on-year growth in revenue and earnings. The company reported its third-quarter results on October 29, with its shares closing at $11.92 that day, according to Reuters via Investing.com. The previous close, before the announcement, saw RKT shares at $11.57 on October 28, according to EL7 data. The fourth-quarter adjusted revenue range remains the company’s most prominent forward-looking figure in the results.