Rocket Companies Inc - Ordinary Shares Class A

Strong Q1 Performance: Rocket Companies reported adjusted revenue of $1.3 billion for Q1 2025, reaching the high end of guidance. This reflects an 11% increase year-over-year. Net rate lock volume was $26 billion, also up 17% year-over-year, alongside a strong performance in the home equity loan segment.

Market Challenges and Outlook: The housing market showed volatility, particularly in April 2025, with a decline in mortgage rates and consumer sentiment due to tariff announcements causing a slowdown in purchase applications. Q2 guidance for adjusted revenue is set between $1.175 billion and $1.325 billion, indicating possible headwinds from a challenging April but an expectation for improvement in May and June.

Acquisitions for Growth: The announced acquisitions of Redfin and Mr. Cooper are positioned to strengthen Rocket’s business model by providing a balanced approach to origination and servicing. The integration is a top priority, aimed at realizing synergies post-closing to enhance the customer experience in homeownership transactions.