Rocket Companies(RKT)

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Rocket Companies(RKT) - 2021 Q2 - Quarterly Report
2021-08-12 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number: 001-39432 Rocket Companies, Inc. (Exact name of registrant as specified in its charter) Delaware 84- ...
Rocket Companies, Inc. (RKT) CEO Jay Farner Presents at Bank of America Securities 2021 Global Technology Conference (Transcript)
2021-06-10 19:57
Rocket Companies, Inc. (NYSE:RKT) Bank of America Securities 2021 Global Technology Conference June 10, 2021 10:45 AM ET Company Participants Jay Farner - Vice Chairman & CEO Conference Call Participants Mihir Bhatia - Bank of America Mihir Bhatia Good morning, and thank you for joining us. I'm Mihir Bhatia, and I cover consumer finance here at Bank of America. We're excited to welcome Rocket Companies to our Global Technology Conference this morning. Joining us today will be Jay Farner. Jay is the CEO at R ...
Rocket Companies, Inc. (RKT) CEO Jay Farner Presents at JPMorgan 49th Annual Global Technology, Media and Communications Conference (Transcript)
2021-05-24 18:23
Rocket Companies, Inc. (NYSE:RKT) JPMorgan 49th Annual Global Technology, Media and Communications Conference May 24, 2021 1:15 PM ET Company Participants Jay Farner - Chief Executive Officer Conference Call Participants Rick Shane - JPMorgan Tien-tsin Huang - JPMorgan Rick Shane Good morning and thank you for joining us at the 2021 JPMorgan TMC Conference. I'm Rick Shane, Head of Consumer Finance Research, and I'm joined by my colleague, Tien-tsin Huang, Head of Payments, Processing, and IT Services Resear ...
Rocket Companies(RKT) - 2021 Q1 - Quarterly Report
2021-05-13 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number: 001-39432 Rocket Companies, Inc. (Exact name of registrant as specified in its charter) Indicate by ...
Rocket Companies(RKT) - 2021 Q1 - Earnings Call Transcript
2021-05-06 02:03
Rocket Companies, Inc. (NYSE:RKT) Q1 2021 Earnings Conference Call May 5, 2021 4:30 PM ET Company Participants Sharon Ng - Vice President of Investor Relations Jay Farner - CEO Julie Booth - CFO Bob Walters - President and COO Conference Call Participants Arren Cyganovich - Citi Ryan Nash - Goldman Sachs Doug Harter - Credit Suisse Dennis McGill - Zelman and Associates Mark DeVries - Barclays Mihir Bhatia - Bank of America Operator Good day, and thank you, for standing by. And welcome to the Rocket Compani ...
Rocket Companies(RKT) - 2020 Q4 - Annual Report
2021-03-23 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number: 001-39432 Rocket Companies, Inc. (Exact name of registrant as specified in its charter) Delaware 84-4946 ...
Rocket Companies(RKT) - 2020 Q4 - Earnings Call Transcript
2021-02-26 04:12
Rocket Companies, Inc. (NYSE:RKT) Q4 2020 Earnings Conference Call February 25, 2021 4:30 PM ET Company Participants John Shallcross - Investor Relations Jay Farner - Chief Executive Officer Julie Booth - Chief Financial Officer Bob Walters - President and Chief Operating Officer Conference Call Participants Timothy Chiodo - Credit Suisse James Faucette - Morgan Stanley Ryan Nash - Goldman Sachs Mihir Bhatia - Bank of America Dan Perlin - RBC Arren Cyganovich - Citi Ryan McKeveny - Zelman & Associates Rich ...
Rocket Companies(RKT) - 2020 Q3 - Quarterly Report
2020-11-12 21:47
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number: 001-39432 Rocket Companies, Inc. (Exact name of registrant as specified in its charter) Delaware 8 ...
Rocket Companies(RKT) - 2020 Q3 - Earnings Call Transcript
2020-11-11 04:41
Rocket Companies, Inc. (NYSE:RKT) Q3 2020 Earnings Conference Call November 10, 2020 4:30 PM ET Company Participants Jason McGruder - Vice President, Investor Relations Jay Farner - Chief Executive Officer Julie Booth - Chief Financial Officer Bob Walters - President & Chief Operating Officer Conference Call Participants James Faucette - Morgan Stanley Timothy Chiodo - Credit Suisse Ryan Nash - Goldman Sachs Rich Shane - JPMorgan Ryan McKeveny - Zelman & Associates Matt Roswell - RBC Capital Markets Arren C ...
Rocket Companies(RKT) - 2020 Q2 - Earnings Call Transcript
2020-09-03 02:01
Financial Data and Key Metrics Changes - Rocket Companies achieved record-breaking results in Q2 2020, with adjusted revenue of $5.3 billion and adjusted net income of $2.8 billion, reflecting a 300% year-over-year growth in adjusted revenue [16][24] - The company closed $72.3 billion in loan volume, a 40% increase from Q1 2020 and a 126% increase compared to Q2 2019 [25][12] - Gain on sale margins increased to 5.19% from 3.25% in Q1 2020, indicating significant profitability [13][27] Business Line Data and Key Metrics Changes - The direct-to-consumer channel closed $46.8 billion in loan volume, a 143% year-over-year increase, while the Partner Network contributed $19.7 billion, up 76% from the previous year [25][26] - The mortgage servicing business accounted for 46% of total loan volume, highlighting its importance in overall performance [29] Market Data and Key Metrics Changes - The company noted that approximately 5.1% of its servicing portfolio was on a forbearance plan related to COVID-19 as of June 30, 2020, but trends were improving into Q3 [30] - The U.S. real estate market is recovering, with expectations for strong demand for home loans, particularly in the purchase market [22] Company Strategy and Development Direction - Rocket Companies aims to achieve a 25% market share in the mortgage market by 2030, focusing on long-term growth and investments in technology and brand [35][38] - The company is committed to maintaining its culture and transparency as a public entity, emphasizing long-term strategies over short-term fluctuations [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in consumer sentiment and demand for home loans, driven by record low interest rates [21][22] - The company anticipates Q3 2020 closed loan volume between $82 billion and $85 billion, with gain on sale margins expected to moderate but remain elevated [37] Other Important Information - Rocket Companies has a strong liquidity position with total liquidity of $3.7 billion, including $1 billion in cash [34] - The company is actively involved in community initiatives, such as the Changing the Course initiative in Detroit, aimed at improving digital connectivity [19] Q&A Session Summary Question: How should we think about seasonality in Q4? - Management acknowledged typical seasonality patterns but noted current market conditions could influence expectations [41][44] Question: Can you outline the progression towards the 25% market share target? - Management emphasized a long-term view on growth, with fluctuations expected but a focus on overall market share growth [45][48] Question: What are the expectations for gain on sale margins in the coming quarters? - Management indicated that while margins may moderate, they expect to maintain strong margins due to consumer demand and operational efficiencies [61][65] Question: How does the company handle headcount and turnover? - Management highlighted a unique business model that allows for capacity growth without proportional headcount increases, resulting in strong retention rates [104][105] Question: What is the current UPB on the servicing portfolio? - The servicing portfolio is approximately $400 billion [100]