Lucas Haimes's questions to Rocket Companies Inc (RKT) leadership • Q2 2025
Question
Lucas Haimes from Goldman Sachs inquired about Rocket Companies' outlook for the third quarter and the remainder of 2025, specifically asking about the core cost run rate and the expected pacing of revenue growth versus expenses.
Answer
CEO Varun Krishna explained that while the spring home buying season started slow, momentum is building and expected to extend past the typical Labor Day drop-off, giving them confidence in their outlook. CFO Brian Brown provided detailed Q3 guidance, noting it includes Redfin for the first time. He projected standalone Rocket revenue growth of 6% year-over-year, consistent margins with Q2, and detailed expected expense increases, including non-recurring transaction costs and the impact of $80 million in annualized savings from recent restructuring.