Walker & Dunlop (WD) Tops Q1 EPS by 27c, Revenues Beat

Walker & Dunlop (NYSE: WD) reported Q1 EPS of $1.39, $0.27 better than the analyst estimate of $1.12. Revenue for the quarter came in at $187.4 million versus the consensus estimate of $161 million.

FIRST QUARTER 2019 HIGHLIGHTS

• Total transaction volume of $5.9 billion, up 23% from Q1 '18
• Total revenues of $187.4 million, an increase of 27% from Q1 '18
• Strong net income of $44.2 million, or $1.39 per diluted share, up 20% from Q1 '18
• Record adjusted EBITDA1 of $66.7 million, growth of 28% over Q1 '18
• Servicing portfolio of $87.7 billion at March 31, 2019, up 16% from March 31, 2018
• Declared dividend of $0.30 per share for the second quarter of 2019

"The strong revenue and earnings growth that Walker & Dunlop has shown over the past five years continued into the first quarter of 2019," said Willy Walker, Chairman and Chief Executive Officer of Walker & Dunlop. "Our bankers and brokers executed on $5.9 billion of total transaction volume, a 23% increase over Q1 of last year. Notably, our multifamily-focused property sales team grew their quarterly volume by 106% to nearly $700 million. Continued growth in new loan originations pushed our loan servicing portfolio to $88 billion, which was a large contributor to generating net income of $44 million and a record $67 million in adjusted EBITDA, up 28% over Q1 of 2018."

Mr. Walker continued, "W&D was recently ranked the sixth Best Workplace in the Financial Services Industry by Fortune Magazine, an incredible honor that is reflective of our strong corporate culture and incredible team. Our unique ability to effectively compete with global firms while providing our clients with the touch and feel of a small, family company continues to differentiate us from the competition and power our financial results. Given our distinct brand in the industry, the fundamentals supporting the commercial real estate market, and our extremely profitable business model, we feel well positioned to deliver continued strong results in 2019."

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

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