Rocket

Q2 FY2026 EarningsQ2 FY26 results were largely in-line with or slightly below consensus: revenue of $2,784M missed the $2,823M mean by 1.38%, while adjusted EPS of $0.16 was essentially in-line with the $0.164 expectation. Closed mortgage volume surged 69% YoY to $49.1B, driven by the integration of Mr. Cooper and strong DTC performance. However, GAAP Net Income of $230M missed the $332.5M consensus significantly due to $99M in acquisition-related expenses and a $28M litigation accrual related to the HouseCanary dispute. The current volatile interest rate environment and shift in Fed expectations remain the primary headwinds for origination margins.