Rocket Companies (RKT) Tops Q3 EPS by 9c

Rocket Companies (NYSE: RKT) reported Q3 EPS of $0.57, $0.09 better than the analyst estimate of $0.48. Revenue for the quarter came in at $3.12 billion versus the consensus estimate of $2.92 billion.

"We had an excellent third quarter, as we executed on our mission to remove friction from life\'s complex moments. Our core mortgage business exceeded the high end of guidance for closed loan volume and gain-on-sale margin, while achieving record purchase volume," said Jay Farner, Vice Chairman and CEO of Rocket Companies. "We also announced our exciting partnership with Salesforce to provide \'Mortgage as a Service' to financial institutions, leveraging Rocket Mortgage\'s transformational platform powered by Rocket technology. Looking ahead to 2022, we expect to exceed 10% share in a purchase-heavy mortgage market and continue to leverage our platform to grow and scale the other businesses in our ecosystem, including real estate, auto, personal loans and solar."

GUIDANCE:

• Closed loan volume of between $75 billion and $80 billion.
• Net rate lock volume of between $71 billion and $78 billion.
• Gain on sale margins of 2.65% to 2.95%.

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

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