Rocket Companies, Inc. Q3 2026 Earnings Recap

Rocket shares rose 7.4% after the company reported adjusted revenue of $2.6 billion, near the midpoint of guidance, and adjusted EBITDA of $748 million as margins expanded to 29%. The positive reaction came despite a sharply tougher mortgage backdrop, with management citing share gains and higher margins as evidence of improved resilience.

Key Takeaways

• Adjusted net income was $419 million, or $0.15 per adjusted share; adjusted EBITDA margin reached its highest level in nearly five years.
• The rate environment deteriorated during the quarter: the 10-year Treasury rose 80 basis points to 5.3%, mortgage rates rose more than 80 basis points to 7.3%, and refinance applications fell more than 50% year over year.
• Management said the company gained purchase and refinance share both sequentially and year over year. More than 70% of revenue this year comes from sources it describes as less rate-sensitive.
• Servicing generated more than $1 billion in quarterly fees, while recapture across the combined portfolio reached a company high in Q3.
• Digital accounted for more than 40% of direct-to-consumer refinance applications; those leads converted at four times the rate of other channels.