Walker & Dunlop (NYSE: WD) reported Q3 revenue for the quarter came in at $212.3 million versus the consensus estimate of $202.95 million.

THIRD QUARTER 2019 HIGHLIGHTS

• Total transaction volume of $8.9 billion, up 16% from Q3'18
• Total revenues of $212.3 million, up 15% from Q3'18
• Net income of $44.0 million, up 17% from Q318 and diluted earnings per share of $1.39, up 21% from Q318
• Adjusted EBITDA1 of $54.5 million, down 6% from Q3'18
• Servicing portfolio of $91.8 billion at September 30, 2019, up 14% from September 30, 2018
• Declared dividend of $0.30 per share for the quarter

"Q3 of 2019 was one of the strongest quarters in our Company's history due to unprecedented recruiting success, regulatory clarity from the FHFA, the implementation of exciting technological solutions, and fantastic financial results," stated Walker & Dunlop Chairman and CEO Willy Walker. "Consolidation in the real estate services industry has left Walker & Dunlop somewhat uniquely positioned as the financial services company with big company capabilities yet the touch and feel of a family-owned business, and that positioning and company culture is what drove our fantastic recruiting success this quarter. The FHFA's announcement of the 2020 GSE Scorecard established the significant role the new regulator would like to see Fannie Mae and Freddie Mac continue to play in the multifamily financing industry. The technologies we have implemented to create efficiencies and drive incremental sales are showing promising results. And our financial performance was simply fantastic, particularly during a quarter when we on-boarded so many new employees. All of these factors position Walker & Dunlop very well for continued growth."

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