Walker & Dunlop (WD) Tops Q4 EPS by 8c, Revenues Beat

Walker & Dunlop (NYSE: WD) reported Q4 EPS of $1.44, $0.08 better than the analyst estimate of $1.36. Revenue for the quarter came in at $214.9 million versus the consensus estimate of $204.2 million.

• Record total transaction volume of $9.4 billion
• Record total revenues of $214.9 million
• Strong net income of $45.8 million, or $1.44 per diluted share
• Record adjusted EBITDA1 of $59.6 million
• Increased dividend to $0.30 per share for the first quarter of 2019

"Walker & Dunlop closed out 2018 with an exceptional fourth quarter, finishing the year with top-line growth and strong profitability," stated Willy Walker, Chairman and CEO. "The consistent execution of our team for our clients, combined with the strength of our brand, contributed to record total transaction volume of $28.0 billion and record revenues of $725 million. We earned $5.04 per diluted share, up 6% over 2017 excluding the $1.80 per share one-time benefit we recorded last year from tax reform. The profitability of W&D's business model was most apparent in the 10% year-over-year growth in adjusted EBITDA to $220 million. Given the cash generation of our core business, strong balance sheet, and positive market outlook; Walker & Dunlop's Board of Directors increased our quarterly dividend payment by 20% to $0.30 per share."

Mr. Walker continued, "During 2018, we continued adding professionals across the country, including a great group of bankers from iCap Realty Advisors, three investment sales teams in strategic markets, and the fund management team at JCR Capital. The investments we made in the platform last year help move us closer to achieving Vision 2020, which centers around the goal of generating annual revenues of $1 billion by growing loan originations, multifamily property sales, servicing, and our fund management business. The incredibly talented and dedicated team at Walker & Dunlop is focused every day on exceeding our clients' expectations and driving our company towards our Vision 2020 to create the premier commercial real estate finance company in the country."

For earnings history and earnings-related data on Walker & Dunlop (WD) click here.

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