Rocket beats earnings guidance with strongest quarterly profit in four years

Rocket Companies reported its most profitable quarter in four years as “We are not waiting for the market to normalize. We are building a company that can win in the market we have.”

Adjusted net income totaled $422 million, compared with $80 million in the first quarter of 2025, while adjusted EBITDA increased to $738 million, up from $169 million. Diluted earnings per share were 10 cents, compared with a loss of 8 cents a year ago.

“In Q1, we beat guidance, expanded EBITDA margins and grew market share in both refinance and purchase,” Rocket president and chief financial officer The company generated more than $1 billion in servicing fee income during the quarter, supported by a Rocket’s direct-to-consumer segment, Rocket Mortgage, generated $2.23 billion in total revenue during the first quarter, up from $793 million a year earlier. Adjusted revenue rose to $2.11 billion from $1.05 billion, while contribution margin increased to $1.15 billion from $407 million.

Brown provided an update on Rocket’s origination capacity. In 2024, Rocket reported that it had the capacity to originate up to $150 billion without adding fixed costs.

“We now have up to $300 billion of origination capacity with several hundred fewer production team members than we had back in 2024. We’ve done this two years ahead of schedule, while actively reducing fixed costs through synergies,” Brown said.

For Q2 2026, Rocket forecasts adjusted revenue between $2.7 billion and $2.9 billion.

Key Q1 accomplishments

Rocket said integration efforts tied to its Rocket also highlighted several technology and distribution initiatives during the quarter, including the February launch of