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Walker & Dunlop Q4 Revenues up 61% to $350 Million
and Net Income up 94% to $83 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|
FULL-YEAR 2020 HIGHLIGHTS
|●||Record total revenues of $1.1 billion, up 33% from 2019|
|●||Total transaction volume of $41.1 billion, up 29% from 2019|
|●||Net income of $246.2 million, up 42% from 2019 and diluted earnings per share of $7.69, up 41% from 2019|
Bethesda, MD – February 4, 2021 – Walker & Dunlop, Inc. (NYSE: WD) (the “Company”) reported fourth quarter 2020 total revenues of $349.7 million, an increase of 61% over the fourth quarter of 2019. Net income for the fourth quarter of 2020 was $83.1 million, or $2.59 per diluted share, up 94% and 93%, respectively, from the fourth quarter of 2019. Fourth quarter 2020 adjusted EBITDA(1) was $58.2 million, down 9% over the same period in 2019. Fourth quarter total transaction volume increased 45% from the fourth quarter of 2019 to $14.2 billion, with debt financing and property sales volume up 45% and 44%, respectively. The Company’s Board of Directors authorized an increase in the 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.”
The following information was filed by Walker Dunlop, Inc. (WD) on Thursday, February 4, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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