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Walker & Dunlop Reports 19% Increase in Earnings
per Share on Net Income of $41 Million
SECOND QUARTER 2018 HIGHLIGHTS
Bethesda, MD – August 1, 2018 – Walker & Dunlop, Inc. (NYSE: WD) (the “Company”) reported second quarter 2018 net income of $41.1 million, or $1.28 per diluted share, an increase of 19% over the second quarter 2017 and the third most-profitable quarter in its history. Total revenues were $178.2 million, an increase of 7%, generating adjusted EBITDA of $50.0 million. The Company ended the second quarter with cash and short-term cash investments of $175.1 million and declared a $0.25 per share dividend for the third quarter 2018.
“Q2 was another strong quarter of financial performance for Walker & Dunlop, with a 7% year-over-year increase in total revenues,” commented Chairman and CEO, Willy Walker. “Second quarter total transaction volume of $6.2 billion reflects continued growth at Walker & Dunlop and our increased relevance to our customers across the country. We earned net income of $41.1 million or $1.28 per diluted share, producing $50.0 million of adjusted EBITDA. We also continued to execute on our strategic growth initiatives during Q2, which included the acquisition and integration of JCR Capital, strong growth in interim loan originations, the addition of 13 talented mortgage bankers and brokers, and the expansion of our investment sales footprint into New England and Southern California.”
Mr. Walker continued, “We feel extremely well positioned to deliver an even stronger second half of 2018 given the levels of activity we’re seeing in the market and the healthy pipeline we’re carrying into the third quarter. We are confident in the outlook for our business due to macroeconomic conditions combined with the investments we have made to expand our service offerings and become more insightful into our customers’ businesses.”
The following information was filed by Walker Dunlop, Inc. (WD) on Wednesday, August 1, 2018 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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