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Sep 30, 2023
Walker & Dunlop Q3 2023 Earnings Report
Walker & Dunlop experienced a decline in transaction volume, which led to a decrease in total revenues and net income. However, adjusted EBITDA remained relatively stable due to the strength of the servicing and asset management segment.
Key Takeaways
Walker & Dunlop reported a decrease in total transaction volume by 49% year-over-year, resulting in a 15% decrease in total revenues. Net income also decreased by 54%. However, adjusted EBITDA declined only 1% due to the stability of revenues from the servicing and asset management segment.
Total transaction volume decreased by 49% to $8.6 billion compared to Q3 2022.
Total revenues decreased by 15% to $268.7 million compared to Q3 2022.
Net income decreased by 54% to $21.5 million, with diluted earnings per share of $0.64.
Servicing portfolio increased by 7% to $129.0 billion as of September 30, 2023, compared to September 30, 2022.
Forward Guidance
Walker & Dunlop plans to capitalize on its brand and scale as financing and sales volumes return, regardless of the rate environment in 2024.
Positive Outlook
- Continue to invest in people
- Continue to invest in brand
- Continue to invest in technology
- Capitalize on brand and scale as financing and sales volumes return
- 73% increase in multifamily maturities between 2023 and 2024
Historical Earnings Impact
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Avg. Return Before/After Earnings
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