Rocket mortgage classic 2021 payout1/22/2024 Our Adjusted EBITDA margin was 50% for 2021, which compares to 34% for 2019, demonstrating the scalability of our platform. Achieved Adjusted EBITDA of $6.2 billion during 2021, up 210% from 2019 levels.Our Adjusted Net Income margin was 37% in 2021, which compares to 23% in 2019. Our net income margin was 47% for 2021, which compares to 18% in 2019. Generated net income of $6.1 billion, which exceeded 2019 net income by 577%, and Adjusted Net Income of $4.5 billion during 2021, which was 236% greater than 2019 levels.Our closed loan volume in 2021 was a new company record, up 10% from 2020 levels and 142% compared to 2019 levels. Rocket Mortgage generated $351.2 billion in mortgage origination closed loan volume and gain on sale margin of 3.13%.Generated total revenue, net of $12.9 billion and Adjusted Revenue of $12.4 billion in 2021, which represents 155% and 110% growth as compared to 2019, respectively.Cumulatively, we have returned $312 million to Class A common stockholders under the $1 billion share repurchase program authorized in November 2020. As of February 18, 2022, Rocket Companies repurchased 20.7 million shares cumulatively at an average price of $15.08.We will fund the special dividend from cash distributions of approximately $2.0 billion. Our Company's Board of Directors declared a special dividend of $1.01 per share payable on Mato holders of our Class A common stock of record at the close of business on March 8, 2022.Through these transactions, we lowered the weighted average cost of our senior notes by 68 basis points, extended the weighted average maturity of our senior notes by more than five months, and transitioned to investment grade level covenants. The proceeds were used to acquire $948 million in outstanding 5.250% senior notes due 2028 in a tender offer and for general corporate purposes. In October, Rocket Mortgage issued $1,150 million of 2.875% senior notes due 2026 and $850 million of 4.000% senior notes due 2033.As of December 31, 2021, our servicing portfolio includes 2.6 million clients and generates $1.4 billion of recurring servicing fee income on an annualized basis. Grew servicing book unpaid principal balance to $552 billion at December 31, 2021, up 35% from Decemand 63% from December 31, 2019.Truebill's annualized recurring revenue base exceeded $100 million as of December 2021, more than double the run rate on a year-over-year basis. This acquisition accelerates Rocket Companies' vision to help clients in complex moments. Truebill has quickly become the choice for clients looking to live their best financial lives by managing subscriptions, improving credit scores, tracking spending and building budgets in a simple, easy-to-use app. In December 2021, we completed the acquisition of Truebill, a leading personal finance app that helps clients manage their entire financial lives, for $1.275 billion in consideration.Our Adjusted EBITDA margin was 36% for Q4 '21, which compares to 41% for Q4 '19. Achieved Adjusted EBITDA of $883 million during Q4 '21, up 19% from Q4 '19 levels.Our Adjusted Net Income margin was 26% in Q4 '21, which compares to 28% in Q4 '19. Our net income margin was 33% for Q4 '21, which compares to 40% in Q4 '19. Generated net income of $865 million, which exceeded Q4 '19 net income by 15%, and Adjusted Net Income of $637 million during Q4 '21, which was 23% higher than Q4 '19 levels.Our closed loan volume was up 49% compared to Q4 '19 levels. Rocket Mortgage generated $75.9 billion in mortgage origination closed loan volume and gain on sale margin of 2.80%.We compare certain revenue and profitability measures to 2019 as we experienced a historically low interest rate environment in combination with limited industry capacity during 2020. Generated total revenue, net of $2.6 billion and Adjusted Revenue of $2.4 billion in Q4 '21, which represents 36% and 33% growth as compared to Q4 '19, respectively.(Units in '000s, $ amounts in millions, except per share)
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |