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Exhibit 99.1
Walker & Dunlop Caps Record Year with 80% Growth in Fourth Quarter Earnings
2016 Marks the Third Straight Year of Greater Than 30% Growth in Diluted EPS
FOURTH QUARTER 2016 HIGHLIGHTS |
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Total revenues of $178.4 million, up 47% from Q4’15 |
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Net income of $36.8 million, or $1.16 per diluted share, up 80% from Q4’15 |
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Adjusted EBITDA1 of $34.6 million, up 19% from Q4’15 |
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Total transaction volume of $6.3 billion, up 34% from Q4’15 |
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FULL YEAR 2016 HIGHLIGHTS |
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Total revenues of $575.3 million, up 23% over 2015 |
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Net income of $113.9 million or $3.65 per diluted share, up 39% over 2015 |
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Total transaction volume of $19.3 billion, up 9% over 2015 |
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Operating Margin of 32% compared to 29% in 2015 |
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Increased number of mortgage bankers and investment sales brokers by 29% since Q1’16 |
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Servicing portfolio of $63.1 billion at December 31, 2016, up 26% from December 31, 2015 |
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Repurchased $9.2 million of stock during 2016; Board reauthorized share repurchases of up to $75 million over the next 12 months |
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Bethesda, MD – February 8, 2017 – Walker & Dunlop, Inc. (NYSE: WD) (the “Company”) reported fourth quarter and full-year 2016 results, adding $1.00 in earnings per diluted share year over year. Total revenues were $178.4 million for the fourth quarter 2016, a 47% increase over the fourth quarter 2015. Net income increased 80% from the fourth quarter 2015 to $36.8 million, or $1.16 per diluted share. Adjusted EBITDA for the fourth quarter 2016 was $34.6 million compared to $29.0 million for the fourth quarter 2015, a 19% increase. Net income for 2016 increased 39% to $113.9 million, or $3.65 per diluted share, from $82.1 million, or $2.65 per diluted share, for 2015. Total revenues were $575.3 million, a 23% increase from 2015 and well above the Company’s goal of $500 million. Adjusted EBITDA for 2016 was $129.9 million compared to $124.3 million in 2015, a 5% increase. |
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