secwatch.observer — SEC 8-K summary
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Issuer:     Rocket Companies, Inc. (RKT)
CIK:        0001805284
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001805284-24-000061
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rocket Companies Q1 net income $291M vs loss; revenue $1.38B, adjusted EBITDA $174M
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- GAAP net income of $291M ($0.11 diluted EPS) vs loss of $411M ($0.16 loss per share) in Q1 2023.
- Total revenue, net of $1.384B, more than double year-ago $666M; adjusted revenue $1.163B exceeded guidance high end.
- Adjusted EBITDA of $174M, highest in two years, compared to loss of $79M in Q1 2023.
- Closed loan origination volume $20.2B, up 19% YoY; gain-on-sale margin improved to 3.11% from 2.39%.
- CEO Varun Krishna cited accelerated top-line growth and expanded purchase and refinance market share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805284/000180528424000061/0001805284-24-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805284/000180528424000061/rkt-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001805284-24-000061

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer