Rocket Companies Inc Stock Price, News & Analysis

Rocket Companies (NYSE: RKT) has announced a $4 billion senior notes offering, comprising $2 billion in notes due 2030 and $2 billion due 2033. The notes will be guaranteed by Rocket Mortgage and its domestic subsidiaries, with additional guarantees from Redfin and Mr. Cooper Group upon completion of their respective acquisitions. The proceeds will be used to redeem existing notes from Nationstar Mortgage Holdings, pay offering-related fees, potentially redeem additional notes, and repay secured debt. The offering is not contingent on completing the Redfin or Mr. Cooper acquisitions, but includes special mandatory redemption provisions if the Mr. Cooper acquisition isn't completed by September 2026. The notes are being offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. investors under Regulation S.

Rocket Companies (NYSE: RKT) reported Q1 2025 results with total revenue of $1.0 billion and adjusted revenue of $1.3 billion, hitting the high end of guidance. The company posted a GAAP net loss of $212 million ($0.08 loss per share) but achieved adjusted net income of $80 million ($0.04 per share). Key metrics include $21.6 billion in mortgage closed loan volume (up 7% YoY) and $26.1 billion in net rate lock volume (up 17% YoY). Notably, Rocket announced two major acquisitions: Redfin for $1.75 billion and Mr. Cooper Group for $9.4 billion, both in all-stock transactions. The company maintains strong liquidity of $8.1 billion and launched several new initiatives including RentRewards and the 1-0 Rate Break Buy Down program.

Rocket Companies (NYSE: RKT) has announced that CEO Varun Krishna will participate in a fireside chat at the 53rd Annual J.P. Morgan Global Technology, Media and Communications Conference.

The presentation is scheduled for May 14th at 1:00 p.m. ET at The Westin Boston Seaport District Hotel in Boston, Massachusetts. Investors and interested parties can access the live webcast through the "Events & Presentations" section on Rocket Companies' Investor Relations website at ir.rocketcompanies.com.

The Detroit-based fintech platform, which encompasses:

• Mortgage services
• Real estate operations
• Title services
• Personal finance businesses

A replay of the webcast will be made available on the company's Investor Relations website after the event concludes.

Rocket Companies (NYSE: RKT), a Detroit-based fintech platform specializing in mortgage, real estate, title, and personal finance businesses, has scheduled its first quarter 2025 earnings announcement for May 8, 2025.

The company will release its detailed Q1 2025 results via press release before hosting a conference call with leadership at 4:30 p.m. ET on the same day. Investors can access a live webcast of the earnings call through the 'Events & Presentations' section on Rocket Companies' Investor Relations website at ir.rocketcompanies.com. A replay will be available on the website after the event.

Redfin (NASDAQ: RDFN) has announced it will release its first-quarter 2025 financial results after market close on May 6, 2025. Due to the pending acquisition by Rocket Companies (NYSE: RKT) announced on March 10, 2025, there will be no conference call or webcast to discuss the results.

The acquisition, governed by a Merger Agreement signed on March 9, 2025, involves the conversion of equity interests and issuance of Rocket common stock. The completion of the transaction is subject to various conditions, including Redfin stockholder approval and regulatory clearances.

The deal's success depends on multiple factors, including timely completion, integration effectiveness, and realization of anticipated synergies. A Form S-4 Registration Statement was filed with the SEC on April 7, 2025, containing detailed information about the proposed merger.

Rocket Companies (NYSE: RKT) has announced a definitive agreement to acquire Mr. Cooper Group in an all-stock transaction valued at $9.4 billion. The merger will create America's largest mortgage servicing platform, managing over $2.1 trillion in loan volume and serving nearly 10 million clients - representing one in every six mortgages in America.

The transaction, expected to close in Q4 2025, will see Mr. Cooper shareholders receive 11.0 Rocket shares for each share of Mr. Cooper stock, representing a 35% premium. Post-merger, Rocket shareholders will own approximately 75% of the combined company, while Mr. Cooper shareholders will hold 25%.

The merger is projected to generate $500 million in annual run-rate synergies, including $100 million in additional pre-tax revenue from higher recapture rates and $400 million in pre-tax cost savings. The combined entity will leverage Rocket's AI-powered platform and Mr. Cooper's advanced servicing capabilities to enhance the homeownership experience.

Regional Management Corp (NYSE: RM) has appointed Julie Booth to its Board of Directors, expanding the board from eight to nine members. Booth, who will serve on the Board's Audit Committee, most recently held the position of Chief Financial Officer and Treasurer at Rocket Companies (NYSE: RKT).

During her two-decade tenure at Rocket, Booth served 14 years as CFO and successfully led the company through its IPO in 2020. Her previous roles include VP of Finance and Director of Internal Audit at Rocket, and 13 years in Ernst & Young's audit group. She currently serves as interim CFO of a Michigan-based pharmaceutical startup and has held board positions in non-profit organizations, including Board Chair for Make-A-Wish Michigan.

Rocket Companies (NYSE: RKT) has announced its acquisition of Redfin (NASDAQ: RDFN) in an all-stock transaction valued at $1.75 billion, or $12.50 per Redfin share. The deal combines Redfin's top-three home search platform and 2,200+ agent network with Rocket's mortgage services across all 50 states.

Key transaction details:

• Redfin shareholders will receive 0.7926 RKT shares per RDFN share, a 63% premium
• Post-merger ownership: 95% Rocket, 5% Redfin shareholders
• Expected closing: Q2/Q3 2025
• Projected synergies of $200M by 2027 ($140M cost, $60M revenue)
• Transaction expected to be earnings accretive by end of 2026

Additionally, Rocket announced the collapse of its Up-C structure and declared a special cash dividend of $0.80 per Class A share, payable April 3, 2025. The merger aims to create a seamless home-buying experience, leveraging Redfin's 50 million monthly visitors and Rocket's mortgage expertise.

Rocket Companies (NYSE: RKT) reported strong Q4 2024 results with total revenue of $1.8 billion and adjusted revenue of $1.2 billion. The company achieved Q4 GAAP net income of $649 million ($0.23 per share) and adjusted net income of $85 million ($0.04 per share).

For full year 2024, RKT delivered:

• Total revenue of $5.1 billion (34% YoY growth)
• Adjusted revenue of $4.9 billion (30% YoY growth)
• GAAP net income of $636 million ($0.21 per share)
• Adjusted EBITDA of $862 million

Operational highlights include a 47% YoY increase in Q4 net rate lock volume to $23.6 billion and 61% growth in closed loan origination volume to $27.8 billion. The servicing portfolio grew 17% YoY to $593 billion. Purchase market share increased 8% YoY, while home equity loan volume doubled in 2024.