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Walker & Dunlop Announces
Record 2015 Results and Share Buyback
Company Sees Continued Strength in Core GSE Lending Platform
FOURTH QUARTER 2015 HIGHLIGHTS
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Net income of $20.4 million, or $0.67 per diluted share, up 26% from Q4 '14 |
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Total transaction volume of $4.7 billion, up 10% from Q4 '14 |
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Total revenues of $121.4 million, up 8% from Q4 '14 |
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Adjusted EBITDA1 of $29.0 million, up 24% from Q4 '14 |
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Servicing portfolio of $50.2 billion at December 31, 2015, up 14% from Q4’14 |
FULL YEAR 2015 HIGHLIGHTS
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Net income of $82.1 million or $2.65 per diluted share, up 60% over 2014 |
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Total transaction volume of $17.8 billion, up 56% over 2014 |
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Total revenues of $468.2 million, up 30% over 2014 |
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Adjusted EBITDA of $124.3 million, up 47% over 2014 |
Bethesda, MD – February 10, 2016 – Walker & Dunlop, Inc. (NYSE: WD) (the “Company”) reported today fourth quarter and full year 2015 results and that its Board of Directors authorized the repurchase of up to $75 million in stock over the next year. Net income increased 26% from the fourth quarter 2014 to $20.4 million or $0.67 per diluted share. Total revenues were $121.4 million for the fourth quarter 2015, an 8% increase over the fourth quarter 2014. Adjusted EBITDA for the fourth quarter 2015 was $29.0 million compared to $23.4 million for the fourth quarter 2014, a 24% increase. Net income for 2015 increased 60% to $82.1 million, or $2.65 per diluted share, from $51.4 million, or $1.58 per diluted share for 2014. Total revenues for 2015 were $468.2 million, a 30% increase from 2014. Adjusted EBITDA for 2015 was $124.3 million compared to $84.8 million in 2014, a 47% increase.
“Walker & Dunlop went public in 2010 to raise capital and build a scaled, national real estate finance platform in anticipation of the 2015 through 2017 refinancing wave. Our record 2015 results reflect the tremendous success we have achieved in acquiring companies, hiring exceptional professionals, exceeding our clients’ expectations, and establishing one of the strongest brands in the industry," commented Willy Walker, Walker & Dunlop’s Chairman and CEO. "The current turmoil in the equity and debt capital markets presents opportunities for our company. Our core GSE lending business, which represented 70% of our 2015 loan originations, will remain the go-to source of financing for owners of multifamily real estate. Our brokerage business, where we have grown originations at a 49% compound annual growth rate over the past four years, will continue to expand as hundreds of billions of dollars of commercial mortgages come up for refinancing. And our loan servicing portfolio, which grew to $50 billion at the end of 2015 and is comprised of predominantly low-leverage, multifamily loans, will continue to kick-off increasing volumes of high-margin revenues over the coming years.” Walker commented further, "We believe continued investment in commercial real estate, low interest rates, and a swell of maturing loans will propel our business for
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The following information was filed by Walker Dunlop, Inc. (WD) on Wednesday, February 10, 2016 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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