Rocket Companies (RKT) reported earnings on Wed 2 Sept 20 (a/h)

 ** charts before earnings **

** charts after earnings **

Rocket Companies reports Q2 results; adjusted revenue up 437%, closed loan origination volume up 126% yr/yr 

Reports adjusted revenue of $5.037 bln, up 437% yr/yr.

Reports adjusted net income of $2.850 bln, up 995% yr/yr.

Generated record closed loan origination volume of $72.3 billion and net rate lock volume $92.0 billion, which represented year-over-year improvements of 126% and 170%, respectively.

Third Quarter Outlook: Sees net rate lock volume of between $93-$98 bln, which would represent an increase of 98% to 108% compared to $47.0 bln in the third quarter of 2019.

• Sees closed loan volume of between $82-$85 billion, or an increase of 105% to 112% compared to $40.3 bln in the third quarter of 2019.
• Co states that it continues to see strong consumer demand for home loans into the third quarter of 2020.  
• As of August 31, 2020, approximately 96,000 clients, or 4.7% of its total servicing portfolio, were on a forbearance plan related to COVID-19.