Walker & Dunlop (WD) Tops Q4 EPS by $1.25, Revenues Beat

Walker & Dunlop (NYSE: WD) reported Q4 EPS of $2.59, $1.25 better than the analyst estimate of $1.34. Revenue for the quarter came in at $349.7 million versus the consensus estimate of $228.57 million.

FOURTH QUARTER 2020 HIGHLIGHTS

• Total revenues of $349.7 million, up 61% from Q4'19
• Total transaction volume of $14.2 billion, up 45% from Q4'19
• Net income of $83.1 million, up 94% from Q4'19 and diluted earnings per share of $2.59, up 93% from Q4'19
• Servicing portfolio of $107.2 billion at December 31, 2020, up 15% from December 31, 2019
• Increased quarterly dividend by 39% to $0.50 per share

Willy Walker, Chairman and CEO commented, "Our fourth-quarter financial performance was exceptional, closing out a transformative year for Walker & Dunlop, with our people, brand, and technology coming together to produce fantastic results for our clients and shareholders. These same growth drivers also contributed to our success in capturing new clients and loans to the company – in 2020, 66% of the loans we refinanced were new to Walker & Dunlop, and 23% of our total transaction volume was with new clients who had never worked with us before. Further, we ended the year with record volumes across the board, generating total debt financing and property sales volume of $41.1 billion, up 29% from 2019, which pushed annual total revenues to $1.1 billion, exceeding the target we established in 2015 to double revenues in five years. All of these achievements during the year contributed to record diluted earnings per share of $7.69, up 41% over 2019."

Mr. Walker continued, "Despite the many challenges that 2020 presented, our team continued to deliver for our clients, our communities, and one another every single day. As we move into 2021 and focus on our new five-year growth plan, the Drive to '25, we will continue to attract top talent to the platform, expand our brand through innovative marketing solutions, and use technology to be more insightful to clients, all helping us in our pursuit to become the premier commercial real estate finance company in the United States."

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

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