---
schema_version: "secwatch.filing_event.v1"
accession: "0001805284-23-000056"
form_type: "8-K"
ticker: "RKT"
cik: "0001805284"
company_name: "Rocket Companies, Inc."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T09:09:19.733249+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Varun Krishna named CEO; Q2 adjusted revenue beats high-end guidance, net income $139M

## Summary
- Varun Krishna (former Intuit exec) appointed CEO effective Sept 5; Bill Emerson becomes President/COO, Bob Walters retires.
- Q2 net revenue $1.236B; adjusted revenue $1.002B (exceeded guidance high). GAAP net income $139M ($0.05 diluted EPS).
- Anticipated annualized cost savings of $150M-$200M through prioritization and cost reduction measures.
- Voluntary career transition program committed July 28; expects $50M-$60M charge primarily in Q3 2023.
- Adjusted EBITDA $18M (vs -$27M YoY); adjusted net loss $33M.

## SEC filing metadata
- accession: 0001805284-23-000056
- form_type: 8-K
- ticker: RKT
- cik: 0001805284
- company_name: Rocket Companies, Inc.
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 2.05, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1805284/000180528423000056/0001805284-23-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1805284/000180528423000056/rkt-20230728.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001805284-23-000056
- JSON: https://secwatch.observer/filing/0001805284-23-000056.json
- Plain text: https://secwatch.observer/filing/0001805284-23-000056.txt

## Key facts
- Earnings Releases
  Rocket Companies, Inc. reported the quarter ended June 30, 2023 results: revenue $1.236 billion, net income $139 million, EPS $0.05 per diluted share.
  - Period: the quarter ended June 30, 2023
  - Revenue: $1.236 billion
  - Net income: $139 million
  - EPS: $0.05 per diluted share
  - Result: reported results
  source text: Generated Q2'23 net revenue of $1.236 billion and adjusted revenue of $1.002 billion.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1805284/000180528423000056/0001805284-23-000056-index.htm
- Executive change
  Bob Walters departed as President and Chief Operating Officer at Rocket Companies, Inc..
  - Action: retire
  - Role: President and Chief Operating Officer
  source text: Mr. Emerson will replace Bob Walters, who has notified the Company of his intent to retire from his roles at the Company, effective on the Transition Effective Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1805284/000180528423000056/0001805284-23-000056-index.htm
- Executive change
  Bill Emerson was appointed as President and Chief Operating Officer at Rocket Companies, Inc..
  - Action: appointed
  - Role: President and Chief Operating Officer
  source text: Mr. Krishna will replace Bill Emerson, who will cease to be the Company’s interim Chief Executive Officer and who will become the Company’s President and Chief Operating Officer on the Transition Effective Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1805284/000180528423000056/0001805284-23-000056-index.htm
- Executive change
  Varun Krishna was appointed as Chief Executive Officer at Rocket Companies, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On July 28, 2023, the Board of Directors of the Company appointed Varun Krishna as Chief Executive Officer, effective September 5, 2023 (the “Transition Effective Date”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1805284/000180528423000056/0001805284-23-000056-index.htm
- Restructurings & Charges
  Rocket Companies, Inc. announced a restructuring with charges of $50 to $60 million dollars.
  - Type: restructuring
  - Charge: $50 to $60 million dollars
  source text: On July 28, 2023, the Company committed to a voluntary career transition program that was offered to certain eligible team members. The voluntary career transition program includes a compensation package, healthcare coverage, career transition services, and accelerated vesting of certain equity awards, if applicable. The Company expects to incur a non-recurring charge and make cash payments of $50 to $60 million dollars primarily in the third quarter of 2023, which is the period that the eligible team members accept their offers.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1805284/000180528423000056/0001805284-23-000056-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.