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Walker & Dunlop Reports Record Revenues and Transaction
Volume, Leading to 16% Growth in Net Income
Adjusted EBITDA Grows 24%
THIRD QUARTER 2017 HIGHLIGHTS
YEAR-TO-DATE 2017 HIGHLIGHTS
Bethesda, MD – November 8, 2017 – Walker & Dunlop, Inc. (NYSE: WD) (the “Company”) reported third quarter 2017 net income of $34.4 million, or $1.06 per diluted share, representing a 16% increase in net income over the third quarter 2016. Total revenues for the third quarter 2017 were a record $179.7 million, a 16% increase from the prior-year third quarter. Adjusted EBITDA for the third quarter 2017 was $45.0 million, a 24% increase compared to the third quarter 2016.
“Our third quarter financial results reflect continued success towards achieving our mission to build the premier commercial real estate finance company in the United States,” commented Chairman and CEO, Willy Walker. “$8.5 billion of total transaction volume, up 70% over last year, drove record quarterly revenues of $180 million and a 16% increase in net income over Q3 2016. Year-to-date earnings per diluted share of $3.49 puts us well on pace to deliver double-digit earnings growth for the fourth consecutive year. Given the fundamentals underlying commercial real estate, the demographic trends supporting multifamily housing, and Walker & Dunlop’s consistent growth and financial performance, we expect the momentum we have gained this year to continue into 2018 and beyond.”
Walker continued, “Walker & Dunlop was recently ranked number 17 in Fortune Magazine’s list of Fastest Growing Companies, reflecting our three-year track record of growth in revenues, earnings per share and total shareholder return. Just as exciting as our strong financial performance is how our brand and reputation across the industry have grown to create new business opportunities, such as the $1.9 billion financing of Greystar’s acquisition of Monogram Residential that closed during the third quarter. We have achieved these fantastic growth numbers by establishing a clear long-term mission, executing to annual strategic goals, recruiting and acquiring the most talented professionals in our industry, and exceeding our clients’ expectations every day.”
The following information was filed by Walker Dunlop, Inc. (WD) on Wednesday, November 8, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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