Rocket Companies Q2 Revenue Jumps 92.9% But Misses Estimates

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3▲2 ▼2Impact / 5
Summary · why it matters

Rocket Companies reported second-quarter revenues of $2.76 billion, up 92.9% year on year, but the print fell 2.7% short of analysts' expectations. The mortgage lender logged EPS in line with estimates and the fastest revenue growth among the 12 thrifts and mortgage finance stocks tracked, yet its shares are down 11.6% since reporting and trade at $11.69. Across that 12-stock group, revenues missed consensus by 3.4% and next-quarter revenue guidance came in 10.1% below expectations, with share prices down 18% on average since the latest results. Among peers, Arbor Realty Trust posted revenues of $115.9 million, down 11.1% year on year but 7.1% above expectations, while Flagstar Financial reported $512 million, up 3.2% but 5.8% short of consensus. PennyMac Financial Services posted $565.8 million, up 5.4% and in line with expectations, and Northwest Bancshares reported $180.8 million, up 20.2% and 1% above estimates.

Impact on assets 5

Financials± Mixed · 4 stocks
Flagstar Financial, Inc.
FLG
▼ NegativeCapitalrelevance

Flagstar Financial reported Q2 revenue of $512 million, up 3.2% but 5.8% short of consensus estimates.

Northwest Bancshares Inc
NWBI
▲ PositiveCapitalrelevance

Northwest Bancshares reported Q2 revenue of $180.8 million, up 20.2% and 1% above estimates.

PennyMac Finl Svcs Inc
PFSI
▲ PositiveCapitalrelevance

PennyMac Financial Services posted Q2 revenue of $565.8 million, up 5.4% and in line with expectations.

Digital Finance & Tokenization▼ · 1 stocks
Rocket Companies Inc
RKT
▼ NegativeCapitalrelevance

Rocket Companies' Q2 revenue jumped 92.9% year on year but missed analysts' estimates by 2.7%, with shares down 11.6% since reporting.

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