Rocket Companies (NYSE:RKT) Q2 2020 Earnings Conference Call - Final Transcript

Sep 02, 2020 • 04:30 pm ET


Rocket Companies (NYSE:RKT) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to Rocket Companies' Second Quarter 2020 Earnings Call. [Operator Instructions]

I would now like to turn the call over to your speaker today, Jason McGruder, Vice President, Investor Relations. Please go ahead.

Jason McGruder

Good afternoon, everyone and thank you for joining us for Rocket Companies' earnings call covering the second quarter of 2020. It's first as a public company. My name is Jason McGruder, and I'm the new Vice President of Investor Relations for the Company. I had the opportunity to email a number of participants on this call earlier this week, and I look forward to working closely with all of you in my new role. We are excited to share the results of a terrific quarter with you. But before I turn things over to Jay Farner to get us underway, I will read the policy regarding forward-looking statements.

Today's call is to provide you with information regarding our second quarter 2020 performance in addition to our financial outlook. This conference call includes forward-looking statements. For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to the earnings release that we issued today, as well as risk described in filings with the SEC, particularly in the section of these documents titled Risk Factors. Our commentary today will also include non-GAAP financial measures. Reconciliations between GAAP and non-GAAP metric for our reported results can be found in our earnings release issued today. Please refer to our filings with the SEC for more information.

And with that, I'll turn things over to Jay Farner to get us started. Jay?

Jay Farner

Thank you and good afternoon, everyone. Welcome to Rocket Companies' second quarter earnings call, our first as a public company. Before we get started, I'd like to thank our 20,000 team members for the dedication and unwavering commitment to our clients. Because of their efforts, I'm proud to share that Rocket Companies achieved record breaking results in the second quarter.

Culture is the foundation of everything we do here at Rocket Companies. Our Founder, Dan Gilbert created 19 principles known as ISMs, and they are the heart and soul of our culture and drive every decision we make. They are who we are, our DNA. Our culture has been the secret to our success over the last 35 years and the second quarter was no exception. One of those ISMs is do the right thing, a charge that we take very seriously.

Earlier this year, when we saw the impacts of COVID-19 overseas, we quickly invested in the tools and technology that was needed to ensure that all our team members could effectively work from home, weeks faster than many other large businesses. This allowed us to keep our team members and community safe, while also meeting the needs of our clients as mortgage rates begin to fall. This is just one of the many examples of our Company making sensible investments in the future.