Walker & Dunlop (NYSE: WD) reported Q3 EPS of $1.66, $0.49 better than the analyst estimate of $1.17. Revenue for the quarter came in at $247 million versus the consensus estimate of $206.73 million.

THIRD QUARTER 2020 HIGHLIGHTS

• Total revenues of $247.0 million, up 16% from Q3'19
• Total transaction volume of $8.4 billion, down 6% from Q3'19
• Net income of $53.2 million, up 21% from Q3'19 and diluted earnings per share of $1.66, up 19% from Q3'19
• Servicing portfolio of $103.4 billion at September 30, 2020, up 13% from Q3'19
• Declared dividend of $0.36 per share for the quarter

Willy Walker, Chairman and CEO commented, "Walker & Dunlop's fantastic financial performance in Q3 was due to the combination of our exceptional people, brand, and technology. We continue to grow market share, with 69% of our quarterly loan refinancing activity done on loans new to Walker & Dunlop, and 25% of our $7.3 billion in debt financing done with new clients. This expanding client base and market share translated into significant year-over-year growth in revenues and earnings. Our team has found ways to continue growing and delivering exceptional financial results in the midst of the pandemic due to our best-in-class corporate culture that has once again been recognized by Fortune Magazine as a "Great Place to Work in 2020."

Mr. Walker continued, "In 2015, we established Vision 2020, a five-year strategic growth plan to double Walker & Dunlop's revenues, loan servicing portfolio, and annual loan origination volumes. We have accomplished Vision 2020, taking our servicing portfolio from $50 billion in 2015 to over $100 billion today, taking annual loan originations from $16 billion to over $30 billion, and taking total revenues from under $500 million to just under $1 billion by the end of 2020. This is an incredible accomplishment -- even for a team and company that has demonstrated market-leading growth since we went public in 2010. But what is even more exciting is where we go from here. We have the people, brand, technology and scale to take Walker & Dunlop to a new level and accomplish our long-standing mission to be the premier commercial real estate finance company in the United States over the next five years."

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