rkt earnings date q3
No. Maybe you could talk about that a little bit more. And one of the key strengths of our platform, not only is the technology, the client base, the brand, but also the leadership. Good afternoon, everyone. Rocket Companies, Inc. ( NYSE:RKT) Q3 2020 Earnings Call. View More Analyst Ratings for RKT Yeah. And I was just wondering, does that work into the retention metric? If we look at the first nine months of '19, I think 94 billion closed. As a reminder, we recognize revenue at the time when we lock the interest rate with our clients. Between Lendesk and Finmo, we believe we're bringing an experience that no one else has to the table. Your next question comes from the line of Jack Micenko from SIG. And they also have a robust third-party title business that is not based on Rocket Mortgage or Quicken Loans, but we don't give specific percentages. Stock Advisor launched in February of 2002. And then a quick follow-up. But what percentage of your title business are you capturing from your originations? And so we've started that process, but the sky is the limit on what that integration can look like, when you think of the data and information we have about home values in markets, the real estate connections, the real estate agent connections that they have, the equity information that we have about the two-million-plus folks in our servicing book. I can just answer I know that the D shares are not eligible for repurchase. Yeah. I think I also referenced something that really sets us apart. Thank you very much. RKT | Complete Rocket Cos. Inc. stock news by MarketWatch. So if someone's going to be paying off on our portfolio, we are recapturing that client, which is great, because it generates very good revenue for us. In addition to all the fantastic partnerships we've already shared with you, we are proud to announce that, as of last week, we have forged a relationship with one of the largest financial services companies in the world. One thing I wanted to make sure that I did clarify here, I wasn't sure earlier the question regarding the share repurchase plan, if the question was regarding the or D shares. The growth we're achieving is unmatched. Rocket Companies Inc Cl A (RKT) reported 3rd Quarter September 2020 earnings of $1.20 per share on revenue of $4.6 billion. And so we continue on our path, building all of the right long-term strategies to allow the company to achieve that long-term goal of 25% market share by 2030. In the first three quarters of 2020, the company is responsible for 90% of all eClosings in the industry, providing safety and convenience to our clients amid the ongoing pandemic. Third Quarter Earnings Call. So we feel very good about the continued strength and demand, not only on the refinance side, but on the home purchase side. We're going to be thoughtful and disciplined but, as always, opportunistic. DETROIT, Oct. 19, 2020 Rocket Companies (RKT), Inc., a Detroit-based holding company consisting of tech-driven real estate, mortgage and financial services businesses including Rocket Mortgage, Rocket Homes and Rocket Auto today announced the Company will issue its third quarter 2020 earnings on November 10, 2020. Whatever is best for our clients, we want to help them achieve that. Well, the realtor.com partnership represents yet another example of us integrating our platform into their experience. But I will share with you, as we think about the broader ecosystem, Rocket Homes plays a critical role in providing to our mortgage clients the homes that can afford the equity that they have in their home and even getting them what we call Rocket ready or verified approval. Rocket Companies (RKT) earnings for the loan management company's second quarter of 2020 have RKT stock on the move after-hours Wednesday.More From InvestorPlace Why Everyone Is … 11/11/20. Channel and product mix were the biggest drivers of this variance, about 40 basis points of this. But this is actually even more unique for us because in our business, when the retention rate rises, you're probably looking at increased interest rates. Third Quarter Earnings Call Rocket Companies will host a live conference call at 4:30 p.m. Was there anything this quarter as you think about the spend there and the timing maybe into spring selling '21? The authorization reflects the board and senior leadership's confidence in Rocket Companies' long-term prospects. Your line is open. Hey, good evening. This collaboration, similar to the program we created with Charles Schwab, will allow us to originate mortgages for a new base of clients. Is that a big part of the volume? Overall, the feedback we've received about the rebrand and technology rollouts has been extremely positive. We are excited to share the results of another very strong quarter with you. I'm Jason McGruder, vice president of investor relations. So I think this is -- goes back to the broader concept of is just how we're going to handle capital allocation. It's -- the area is ripe for disruption. We are also adding hundreds of thousands of new clients into our ecosystem, creating an expanding foundation for future growth. And then, of course, the dollars that we're able to invest in the technology to grow this platform and separate us from others with now two million clients on our servicing book with a retention rate north of 90%, with a recapture rate that's 4.5 times the industry, according to Black Knight, and watching this base grow, how we think about this fintech platform that we built, the growth that we're seeing, we think that's quite a bit different than some other folks that may be in the space doing mortgages. So first question on gain-on-sale margins, Julie, taking some of your commentary on 4Q maybe a step further. Now they can help guide homebuyers through the mortgage process from approval to closing using the Rocket Pro mobile app or website. Our strategic objective remains to achieve 25% market share of the mortgage market by 2030 while continuing to generate industry-leading profitability over the long run. To illustrate just how massive our scale is, the company has been consistently profitable on an annual basis, having generated double-digit GAAP pre-tax income margins every year from 2015 through 2019. Rocket Companies, Inc. (NYSE:RKT) posted its quarterly earnings data on Sunday, November, 15th. I think when we think of Rocket Companies and our focus on helping consumers with some of the most exciting experiences they have in their life, whether it's buying home or refinancing their home or buying a car, we think we're uniquely positioned. The second question, maybe a similar response. Your next question comes from the line of Don Fandetti from Wells Fargo. So we've talked about some of the more recent rollouts. Thanks for the question. Your line is open. Subscribe to Premium to view Fair Value for RKT. So that's one way that we engage that client early on in their life cycle. At Amrock, our title company, we closed more than 100,000 mortgage transactions in September, a record that proves the scalability of our platform. I know we're not providing the guidance right now on those businesses. Or is this more kind of episodic whenever you see opportunities in your stock or a bit too much excess capital? ET on November 10, 2020 to discuss its results for the quarter ended September 30, 2020 . Earlier this afternoon, Gossamer Bio issued a press release announcing its financial results for the third quarter ended September 30, 2020 in addition to providing a corporate update. Q3-19. So that brought costs up a bit for us as well. $1.00 to $1.31--Past IPOs. Clearly, we're always considering different M&A activities. But now that we're public, another way for us to help, of course, shareholders is to repurchase our shares. We're very excited about the work that we're doing in Canada. Your line is open. The Rocket Mortgage platform is particularly powerful for first-time homebuyers who can receive loan approvals within minutes. Create one. So can you maybe just talk about how you expect to drive market share in a more purchase-oriented market? Motley Fool Transcribing. This metric is intended to be comparable with retention figures across multiple industries, including cable and wireless service providers. Thank you, Julie. It's proof that our platform is so powerful that we can more than double loan originations year over year and still deliver on our commitment to servicing our clients at the highest levels. OK. And then a bigger-picture question, how are the efforts going into sort of the non-mortgage loans going? Hey, I wanted to revisit the buyback versus the special dividend, pretty thin float. Good afternoon, Jay. Thank you. Thanks. “Still, the qtr does little to resolve key debates (especially as conditions may shift), and its buyback authorization is likely a less preferred path for capital return,” Faucette wrote in a note. Date Event description Earnings per share actual Earnings estimate range Previous year's actual; November 10, 2020. Your line is open. DETROIT, Oct. 19, 2020 Rocket Companies (RKT), Inc., a Detroit-based holding company consisting of tech-driven real estate, mortgage and financial services businesses including Rocket Mortgage, Rocket Homes and Rocket Auto today announced the Company will issue its third quarter 2020 earnings on November 10, 2020. BAJAJ FINANCE LIMITED: Q3 2021 Earnings Release: 01/21/21 : KRUNGTHAI CARD PUBLIC COMPANY LIMITED: FY 2020 Earnings Release (Projected) 01/22/21 | 07:30am : ALLY FINANCIAL INC.: FY 2020 Earnings Release: 01/22/21 | 09:00am : ALLY FINANCIAL INC.: FY 2020 Earnings Call I know another one that we referenced that's been a tech investment for us is the partnership with realtor.com, where we're reaching now tens of millions of prospective home buyers. And that's important to them, of course, because they feel in control. A daily collection of all things fintech, interesting developments and market updates. But thank you so much for taking the time. Are D shares eligible for repurchase as well? Your next question comes from the line of Ryan Nash from Goldman Sachs. Yeah, sure. © 2021 Benzinga.com. All of these processes get better with scale, strengthening our competitive lead and reinforcing the Rocket Companies' flywheel. In Q3, Rocket sees closed loan volume of $82 billion-$85 billion, or an increase of 105%-112% from a year ago. Other Ticker Details RKT Company Name Rocket Companies Earnings Call Date 10-11-2020 Time (ET) 16:30 Fiscal Quarter Q3 Fiscal Year 2020 Now we look at 213 billion in the same nine-month period in 2020. Hey, thank you, and congratulations on the results and guidance. And as I touched on, COVID has really driven these clients or accelerated their desire to be homeowners, moving from urban centers into suburban places and looking for home purchase. Power awards a few times here, but we think that really separates us from others that may be in a similar situation. Good afternoon, Julie. Our Rocket Can campaign has been incredibly successful, and we're proud to soon be rolling out a new slate of ads, including our first exclusively targeting the growing Latinx community. Just curious -- and they all seem to want to take market share. We define total liquidity as cash and cash equivalents, plus undrawn MSR lines undrawn unsecured lines of credit and self-funded mortgages, that can be transferred to our funding facilities at our option. An earnings report is usually issued quarterly (Q1, Q2, Q3 & Q4) by public companies to report their performance. But maybe you can talk a little bit about where you are seeing success, and how we should think about the trajectory on that initial purchase volume and how that can contribute to the lifetime value, particularly if you're able to maintain those high retention rates. Another program to help both homebuyers and their agents was launched in early October. Overall, our margins exceeded the high end of our expectations and remained at historically elevated levels throughout the third quarter. This transition allows our partners to continue to meet the needs of their clients while also providing them with the ability to leverage the best-known brand in consumer lending with Rocket Mortgage. The consensus earnings estimate was $1.03 per share on revenue of $4.3 billion. That's how I think about it. We anticipate that we'll share more information in the new year. We are also using automation to improve the efficiency of our operations and are now making more than one million decisions per day using machine learning. Yeah, sure. In the last several months, Nexsys, our title and closing technology company, announced it had partnered with insurance leaders Farmers and Lemonade to simplify homeowners' insurance verifications using its Clear HOI platform. I'm sure you were watching the television, listening to radio and going online as much as I was, and it was hard to see an ad that wasn't related to the election. We believe this speaks to the strength of demand in the current environment, as you heard from Jay. And then finally, as we go through that waterfall, as profitable as we are, there are times when returning capital to shareholders is the right thing to do. And we expect gain-on-sale margins of 3.8% to 4.1%, which would be an improvement of 11% to 20%, compared to 3.41% in the fourth quarter of 2019. So Julie, can you maybe just talk about how gain-on-sale spreads trended across the quarter given that they came in well above the guidance? Credit Suisse has a Neutral rating and $27 target. The sequential change from record gain on sale margins of 5.19% in the second quarter was driven primarily by changes in channel and product mix. So the retention rate and the recapture rate work together but also like are a natural hedge, I think Julie referenced, that really allows us to win, regardless of whether interest rates are rising or interest rates are falling. 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