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Rocket Companies reported Q2 FY2026 revenue of $2.8 billion, missing the consensus even though both figures rounded to $2.8 billion. Adjusted earnings per share matched the consensus at $0.16.
Revenue rose 91.9% from $1.5 billion a year earlier. The filing attributed higher gain on sale of loans to increased mortgage production. It also said a larger average servicing portfolio lifted servicing fee income, while additional real estate transactions associated with Redfin increased other income.
The company reported diluted earnings per share of $0.08, compared with −$0.01 a year earlier. Operating margin rose to 10.1% from 1.65%, while free cash flow was −$611.0 million, compared with −$2.0 billion a year earlier.
Rocket’s filing said total expenses rose to $2.5 billion, with higher origination volume contributing to increased compensation and funding costs.
| Q2 FY2026 | Q2 FY2025 | Change | |
|---|---|---|---|
| Revenue | $2.8 billion | $1.5 billion | 91.9% |
| Diluted EPS | $0.08 | −$0.01 | — |
| Gross margin | 100.0% | 100.0% | 0.0 percentage points |
| Operating margin | 10.1% | 1.65% | 8.4 percentage points |
| Free cash flow | −$611.0 million | −$2.0 billion | — |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $0.16 | $0.16 | In line |
| Revenue | $2.8 billion | $2.8 billion | Missed by 2.04% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
No earnings call was available for the quarter, so management’s call commentary cannot be reported.
Guidance
In its results release dated 6 August 2026, Rocket Companies said it expects adjusted revenue, a non-GAAP measure, of $2.5 billion to $2.7 billion for Q3 FY2026.
| Metric | For | Guide | Previous guide | Change |
|---|---|---|---|---|
| Revenue, non-GAAP | Q3 FY2026 | $2.5 billion–$2.7 billion | — | New |