Rocket Companies Inc Stock Price, News & Analysis

Rocket Companies, Inc. (RKT) reported impressive Q1 2021 results, with total revenue increasing to $4.6 billion from $1.4 billion in Q1 2020 and net income rising to $2.8 billion. Closed loan origination volume reached $103.5 billion, marking 100% growth year-over-year, while Rocket Auto and Amrock saw substantial sales increases of 65% and 110%, respectively. The company's technology platform improved efficiency, with enhanced client retention and a surge in unique website visitors. Strong financial metrics indicate a robust outlook for Q2 2021, expecting closed loan volume between $82.5 billion and $87.5 billion.

Rocket Companies (NYSE: RKT) announced that it will release its Q1 2021 earnings on May 5, 2021, followed by a conference call at 4:30 p.m. ET. The earnings press release will precede this call.

The company, known for brands like Rocket Mortgage and Rocket Homes, is focused on simplifying financial services through technology. Rocket Companies has approximately 24,000 employees and ranks among the 100 Best Companies to Work For according to Fortune.

Paretta Autosport has announced that Rocket Pro TPO will be the primary sponsor of the No. 16 Chevrolet, driven by Simona De Silvestro, in the upcoming Indianapolis 500. This marks a historical moment as it is the first female-owned INDYCAR team to compete in this prestigious event.

Rocket Pro TPO aims to highlight women's roles in the mortgage and racing industries through the 'Rocket Accelerator' multimedia campaign, which focuses on increasing mentorship and employment opportunities for women.

Intuit's Mint app has extended its partnership with Rocket Mortgage, enabling users to secure home loan approvals entirely within the Mint app. This integration allows for a streamlined experience, reducing the approval time to as little as eight minutes. Users can leverage their Mint account information to expedite applications, thus simplifying the mortgage process. The partnership aims to empower buyers in a competitive housing market by providing quick and easy access to mortgage financing.

Rocket Mortgage announces a significant expansion of its partnership with Michigan State University Athletics for the 2021-2022 season. The five-year deal grants Rocket Mortgage prominent branding across multiple Spartan teams, including a presenting sponsorship of the men's basketball team, now known as 'MSU Spartans Presented by Rocket Mortgage.' The partnership includes extensive visibility at Spartan Stadium and Breslin Center, along with integrations in radio programming for various sports. This collaboration underscores Rocket's commitment to community and sports.

Rocket Companies (NYSE: RKT) announced that CEO Jay Farner will participate in a fireside chat at Morgan Stanley's 2021 Technology, Media & Telecom Virtual Conference on March 3, 2021, at 10:15 AM ET. The event will be webcast live on their Investor Relations website and Morgan Stanley's site. A replay will be available within 24 hours and accessible for one year. The discussion may include forward-looking statements about the company’s financial performance and operations.

Rocket Companies (NYSE: RKT) reported impressive Q4 and full-year 2020 results, with net income soaring to $2.84 billion for Q4 and $9.4 billion for the year, up 277% and 948% respectively. Total revenue for Q4 reached $4.7 billion, a 144% increase, while FY 2020 revenue surged to $15.7 billion, up 208%. The company declared a special dividend of $1.11 per share payable on March 23, 2021, reflecting its strong capital position. Rocket Companies also reported record closed loan origination volumes, exceeding $107 billion in Q4 and $320 billion for the year.

Rocket Mortgage and HomeFree-USA have expanded their partnership to enhance financial education and career training at six historically Black colleges and universities (HBCUs). This initiative aims to bridge the Black homeownership gap and diversify talent in the mortgage industry. The program focuses on tools for prospective homebuyers and provides HBCU students with skills for underrepresented fields. Rocket Mortgage will hire 10% of future interns from HBCUs, hoping to convert them into full-time employees. Financial terms of this partnership remain undisclosed.

Rocket Mortgage announced a successful Super Bowl Squares Sweepstakes, awarding $1.6 million to 14 winners, including two grand prize winners of $500,000 each. The event, designed to engage fans, showcased the largest game of squares ever. Rocket Mortgage aired two commercials featuring Tracy Morgan during the Super Bowl, receiving top ratings in USA Today's Ad Meter. The company closed $213 billion in mortgage volume in the first three quarters of 2020 and continues to lead with its digital mortgage solutions.