$RKT · Rocket Companies, Inc.
Rocket Companies reported Q3 FY2026 revenue of $3.284B, nearly doubling the $1.695B from Q3 2025. Net income swung to $709M from a $124M loss, with GAAP diluted EPS of $0.25 versus -$0.06. The surge was powered by servicing fee income tripling to $1.032B following the Mr. Cooper and Redfin acquisitions, while gain on sale of loans held flat at $1.028B.
- Revenue of $3.284B, up 93.7% YoY from $1.695B, driven by servicing fee income tripling to $1.032B
- Net income attributable to Rocket Companies was $709M vs. a $124M loss in Q3 2025
- GAAP diluted EPS of $0.25 vs. -$0.06 a year ago; adjusted EPS of $0.15
- Servicing fee income hit $1.032B, up from $413M, reflecting the Mr. Cooper and Redfin acquisitions
- MSR portfolio stands at $20.257B fair value, with a $156M positive fair-value change this quarter vs. -$480M last year
Extended-hours trading shows RKT at $12.18, up 2.17% from the regular close of $11.92 and up 2.51% from the filing-time price of $11.88, indicating a positive initial reaction to the massive revenue swing and return to profitability.
Rocket's first full quarter integrating both Mr. Cooper and Redfin shows the acquisitions transformed the P&L: servicing income now rivals gain-on-sale, and the company swung from losses to $709M in quarterly profit.
Rocket's Q3 results reflect the full integration of the Mr. Cooper and Redfin acquisitions, transforming it into a mortgage servicing giant with $20.3B in MSRs. The servicing-fee tripling shows the strategic pivot from pure origination to a balanced origination/servicing model is delivering scale.
The $945M negative MSR fair-value change over nine months shows rate sensitivity remains a material earnings risk. The 35% increase in interest expense to $359M (from $235M) reflects higher leverage post-acquisitions, and the sharp rise in G&A to $559M from $355M signals integration cost pressure.