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Walker Dunlop, Inc. (WD) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

Walker Dunlop, Inc.

CIK: 1497770 Ticker: WD

Exhibit 99.1

Graphic

Walker & Dunlop Reports 42% Growth in Revenues

As Diluted EPS Grows 18% to $2.12

FIRST QUARTER 2022 HIGHLIGHTS

Total transaction volume of $12.7 billion, up 40% from Q1’21
Total revenues of $319.4 million, up 42% from Q1’21
Net income of $71.2 million and diluted earnings per share of $2.12, up 23% and 18%, respectively, from Q1’21
Adjusted EBITDA1 of $62.6 million, up 3% from Q1’21
Servicing portfolio of $116.3 billion at March 31, 2022 up 6% from March 31, 2021
Completed the acquisition of GeoPhy
Declared quarterly dividend of $0.60 per share for the second quarter
Promoted Steve Theobald to Chief Operating Officer and Greg Florkowski to Chief Financial Officer

BETHESDA, MD – May 5, 2022 Walker & Dunlop, Inc. (NYSE: WD) (the “Company” or “W&D”) reported total revenues of $319.4 million for the first quarter of 2022, an increase of 42% year over year. Net income for the first quarter of 2022 was $71.2 million or $2.12 per diluted share, up 23% and 18%, respectively, from the first quarter of 2021. First quarter 2022 adjusted EBITDA1 was $62.6 million, up 3% over the same period in 2021. First quarter total transaction volume was $12.7 billion, up 40% year over year. The Company’s Board of Directors declared a dividend of $0.60 per share for the second quarter of 2022. The Company promoted Steve Theobald to Executive Vice President and Chief Operating Officer, effective June 1, 2022, at which time Greg Florkowski will assume the role of Executive Vice President and Chief Financial Officer.

Walker & Dunlop Chairman and CEO Willy Walker commented, “The breadth of Walker & Dunlop’s platform, capabilities, and brand resulted in 40% year-over-year growth in total transaction volume to $12.7 billion in the first quarter of 2022, driving total revenues to $319 million, up 42% year over year, and diluted earnings per share of $2.12, up 18% from the first quarter of last year. We recently made the two largest acquisitions in W&D's history, Alliant and GeoPhy, which dramatically expand our presence in the affordable housing industry and accelerate our growth as a technologically-enabled financial services company.  The growth and market share gains in our core businesses, along with our investments in new businesses and technology, position Walker & Dunlop extremely well to achieve our mission of becoming the premier commercial real estate finance company in the United States.”

Mr. Walker continued, “Exceptional service delivery is a hallmark of W&D. We have asked Steve Theobald to become Chief Operating Officer to drive service delivery, integration, and technology implementation across Walker & Dunlop. Greg Florkowski, who has been an integral member of our finance and accounting team before running business development for the past three years, will become Chief Financial Officer.  It is a joy to see these two talented executives moving into new roles that will bring significant benefits to W&D.”

1


The following information was filed by Walker Dunlop, Inc. (WD) on Thursday, May 5, 2022 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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Inside Walker Dunlop, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (Parenthetical)
Consolidated Statements Of Income And Comprehensive Income
Earnings Per Share And Stockholders Equity
Earnings Per Share And Stockholders Equity (Tables)
Earnings Per Share And Stockholders Equity - Basic And Diluted Eps (Detail)
Earnings Per Share And Stockholders Equity - Noncash Transactions (Details)
Earnings Per Share And Stockholders' Equity - Restricted Stock Awards And Share Repurchases (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - General Information (Detail)
Fair Value Measurements - Schedule Of Carrying Amounts And The Fair Values Of The Company's Financial Instruments (Detail)
Fair Value Measurements - Schedule Of Fair Value Of Derivative Instruments And Loans Held For Sale (Detail)
Fair Value Measurements - Schedule Of Roll Forward Of Derivative Instruments (Detail)
Fair Value Measurements - Schedule Of Significant Unobservable Inputs Used In The Measurement Of The Fair Value Of Level 3 Assets And Liabilities (Detail)
Fair Value Measurements - Summary Of Financial Assets And Financial Liabilities Measured At Fair Value On A Recurring Basis (Detail)
Fannie Mae Commitments And Pledged Securities
Fannie Mae Commitments And Pledged Securities (Tables)
Fannie Mae Commitments And Pledged Securities - Agency Multifamily Mortgage Based Securities Pledged Securities (Detail)
Fannie Mae Commitments And Pledged Securities - Commitments (Detail)
Fannie Mae Commitments And Pledged Securities - Pledged Securities At Fair Value (Detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Contingent Consideration Liabilities (Detail)
Goodwill And Other Intangible Assets - Geophy Acquisition (Detail)
Goodwill And Other Intangible Assets - Goodwill By Reportable Segment (Details)
Goodwill And Other Intangible Assets - Other Intangible Assets (Details)
Goodwill And Other Intangible Assets - Schedule Of Expected Amortization Of Other Intangible Assets (Details)
Goodwill And Other Intangible Assets - Schedule Of Goodwill (Detail)
Guaranty Obligation And Allowance For Risk-Sharing Obligations
Guaranty Obligation And Allowance For Risk-Sharing Obligations (Tables)
Guaranty Obligation And Allowance For Risk-Sharing Obligations - Schedule Of Activity Related To Guaranty Obligation (Detail)
Guaranty Obligation And Allowance For Risk-Sharing Obligations - Summary Of Allowance For Risk-Sharing Obligations (Detail)
Mortgage Servicing Rights
Mortgage Servicing Rights (Tables)
Mortgage Servicing Rights - Fair Value Disclosures (Detail)
Mortgage Servicing Rights - Schedule Of Activity Related To Msrs (Detail)
Mortgage Servicing Rights - Schedule Of Expected Amortization Of Msrs (Detail)
Mortgage Servicing Rights - Summary Of Components Of Net Carrying Value Of Acquired And Originated Msrs (Detail)
Organization And Basis Of Presentation
Segments
Segments (Detail)
Segments (Tables)
Servicing
Servicing - (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Cash Flows (Detail)
Summary Of Significant Accounting Policies - Contracts With Customers (Detail)
Summary Of Significant Accounting Policies - Derivative Assets And Liabilities (Details)
Summary Of Significant Accounting Policies - Income Taxes (Detail)
Summary Of Significant Accounting Policies - Loans Held-For-Investment, Net (Detail)
Summary Of Significant Accounting Policies - Net Warehouse Interest Income (Detail)
Summary Of Significant Accounting Policies - Provision For Credit Losses (Details)
Variable Interest Entities
Variable Interest Entities (Details)
Variable Interest Entities (Tables)
Warehouse Notes Payable
Warehouse Notes Payable (Tables)
Warehouse Notes Payable - Summary Information (Detail)
Ticker: WD
CIK: 1497770
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-22-012056
Submitted to the SEC: Thu Aug 04 2022 7:35:23 AM EST
Accepted by the SEC: Thu Aug 04 2022
Period: Thursday, June 30, 2022
Industry: Finance Services

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