Walker & Dunlop (WD) Tops Q2 EPS by 86c, Revenues Beat

Walker & Dunlop (NYSE: WD) reported Q2 EPS of $1.95, $0.86 better than the analyst estimate of $1.09. Revenue for the quarter came in at $252.8 million versus the consensus estimate of $196.87 million.

SECOND QUARTER 2020 HIGHLIGHTS

• Total transaction volume of $7.1 billion, down 2% from Q2'19
• Record total revenues of $252.8 million, up 26% from Q2'19
• Net income of $62.1 million and diluted earnings per share of $1.95, both up 47% from Q2'19
• Servicing portfolio of $100.0 billion at June 30, 2020, up 11% from Q2'19
• Declared dividend of $0.36 per share for the quarter

Willy Walker, Chairman and CEO commented, "Our team transitioned flawlessly to a distributed work model during the second quarter and delivered record total revenues of $253 million, up 26% year-over-year, and diluted earnings per share of $1.95, up 47% year-over-year. Exceptionally strong Q2 total transaction volume of $7.1 billion brought W&D's market share2 of total commercial real estate lending in the United States during the first half of 2020 to an astounding 13.2%, nearly triple our market share for 2019. Walker & Dunlop's leadership position in the multifamily financing market is reflected in our record Q2 results and dramatic growth in market share, which should continue for many years to come as multifamily remains the dominant commercial real estate asset class. Record quarterly revenues pushed revenue per employee to over $1.1 million, while we added $5.2 billion of loans from originations to our servicing portfolio, a quarterly record, which pushed our servicing portfolio to over $100 billion at the end of July, accomplishing the first pillar of our ambitious five-year growth plan entitled Vision 2020."

Mr. Walker continued, "The investments we have made to attract the very best bankers and brokers to Walker & Dunlop, build integrated technology solutions and proprietary databases to better understand our clients' financing needs, and expand the Walker & Dunlop brand through the Walker Webcast, came together in Q2 2020 to generate exceptional results for our clients and investors."

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

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