Title

Earning Preview: Rocket Companies this quarter’s revenue is expected to increase by 89.03%, and institutional views are bullish

Abstract

Rocket Companies will report its quarterly results on February 26, 2026 Post Market; this preview synthesizes the company’s latest guidance and Street expectations into a focused view of revenue, profitability metrics, segment contributions, and the consensus leaning from recent institutional commentary.

Market Forecast

Based on the company’s published forecast dataset, Rocket Companies is expected to deliver revenue of $2.26 billion this quarter, up 89.03% year over year, with estimated adjusted EPS of $0.09, up 213.79% year over year; forecast EBIT is $1.91 million, up 105.38% year over year. Forecast gross profit margin and net profit margin were not provided in the same dataset. The main business is anchored by loan production and gain-on-sale economics, and last quarter this line contributed $1.03 billion; the company’s current-quarter revenue guidance points to a broad-based uplift across its platform. The most promising segment within the available breakdown is fee-based servicing, which posted $413.14 million last quarter; paired with the company-wide forecast for 89.03% year-over-year revenue growth, this stream positions Rocket Companies to capture improving operating leverage from scale.

Last Quarter Review

In the previous quarter, Rocket Companies recorded revenue of $1.61 billion (up 148.11% year over year), a gross profit margin of 100.00%, GAAP net profit attributable to the parent company of -$124.00 million, a net profit margin of -7.30%, and adjusted EPS of $0.07 (down 12.50% year over year). One notable financial highlight was a negative mortgage servicing rights fair-value movement of $479.60 million, which offset otherwise solid top-line performance. Within the business mix, “special sale”/gain-on-sale revenue was $1.03 billion, while servicing fees contributed $413.14 million, alongside interest income of $126.46 million, interest expense of -$90.78 million, and other income of $608.65 million.

Current Quarter Outlook

Core loan production and gain-on-sale

Rocket Companies’ core engine remains loan production monetized through gain-on-sale, which contributed $1.03 billion last quarter and underpinned the company’s return to scale on the top line. The company’s forecast for $2.26 billion of revenue this quarter implies a substantial step-up in funding and secondary market execution relative to the prior quarter, which, if realized, should translate into higher throughput and stronger contribution from the origination complex. The trajectory of gain-on-sale contribution will hinge on production volumes, pricing discipline, and the mix between purchase and refinance flows as the company matches pipeline to investor demand across its capital markets channels. Within this framework, efficiency in client acquisition and conversion, plus fulfillment productivity, typically shapes unit economics; a steady expense base would allow incremental volumes to drop through more efficiently, supporting the estimated EPS uplift to $0.09. While granular margin guidance was not provided in the dataset, the directional revenue guidance and EPS inflection suggest management anticipates improved monetization of locks and closings relative to the prior quarter’s backdrop.

Servicing and fee-based income

Servicing fee income of $413.14 million last quarter demonstrates the resilience of Rocket Companies’ fee platform, which benefits from a large installed client base serviced over time. The headline GAAP profitability last quarter was weighed by a -$479.60 million fair-value movement on mortgage servicing rights, highlighting the sensitivity of reported results to valuation changes separate from cash fee generation. Looking to the current quarter, the company’s forecast calls for 89.03% year-over-year revenue growth across the enterprise, which, if delivered, would enhance operating leverage; in that context, a steadier MSR valuation environment would allow the underlying servicing fees to express more cleanly in operating results. Within servicing operations, scale helps stabilize per-loan cost to service, and consistent fee inflows can support run-rate EBIT as the top line expands, even as valuation marks (positive or negative) influence GAAP volatility. Net of fair-value noise, the fee stream is positioned to provide a durable contribution that complements origination, particularly as the company continues to broaden engagement across its client relationships.

Key stock-price drivers this quarter

For this print, investors are likely to key on three pivotal metrics against the company’s forecast set: revenue execution versus the $2.26 billion estimate, EPS delivery relative to the $0.09 estimate, and the magnitude and direction of the mortgage servicing rights fair-value movement. A narrower adverse MSR mark compared with last quarter would reduce GAAP volatility and could help reconcile the relationship between robust top-line performance and bottom-line conversion. Commentary on the size and composition of the lock pipeline, pull-through, and unit profitability will be important to interpret how much of the revenue outperformance, if any, might be sustainable into the subsequent quarter. Operating expense discipline, including technology and marketing efficiency, will frame the extent of operating leverage available as production scales; this will be integral to how investors recalibrate expectations for the next few quarters. Finally, any update on capital allocation and balance-sheet flexibility—especially as it pertains to liquidity for production, risk management around MSRs, and investments in the platform—could influence how the market extrapolates the durability of the estimated EPS inflection.

Analyst Opinions

Recent institutional commentary within the period skews bullish. BTIG reiterated a Buy rating on Rocket Companies in February 2026 with a $25.00 price target, framing the setup as favorable as the company pivots from last quarter’s MSR-driven GAAP volatility toward a quarter guided to 89.03% year-over-year revenue growth and a 213.79% year-over-year increase in adjusted EPS to $0.09. The constructive stance emphasizes execution on volume rebuild, consistent secondary market performance, and the potential for operating leverage as throughput expands across origination and fee-based activity. From this vantage point, the upside case focuses on the company meeting or exceeding the $2.26 billion revenue estimate, translating scale into improved earnings quality, and demonstrating better alignment between cash-generating servicing operations and reported profitability as valuation noise moderates. The bullish view also centers on Rocket Companies’ ability to sustain pipeline momentum and maintain pricing discipline, allowing incremental production to contribute to earnings despite mixed quarter-to-quarter valuation effects on MSRs. With the topline step-up, even modest improvements in fixed-cost absorption could have an outsized impact on earnings trajectory, which underpins the favorable slant heading into February 26, 2026 Post Market.