Walker & Dunlop reports Q4 adjusted core EPS $1.42, consensus 80c

Reports Q4 revenue $274.3M, consensus $276.76M. “We ended 2023 with solid fourth quarter financial results thanks to $9.3 billion of sales and financing volume, combined with our recurring revenues from servicing and asset management, which drove our highest revenues and quarterly earnings of 2023,” commented Walker & Dunlop Chairman and CEO Willy Walker. “In an extremely challenging year — when W&D’s sales and financing volumes were off by 48% — it is a true testament to our business model, active management, and talented team that we generated over $300 million of adjusted EBITDA, only down 8% for the year.” “Walker & Dunlop’s consistently conservative credit culture and focus on the multifamily industry paid dividends in 2023 and positions us well for any market rebound in 2024,” continued Walker. “But the commercial real estate market has plenty of challenges ahead, and the severity of those challenges will depend on the timing, pace, and degree of rate cuts. We are very bullish about Walker & Dunlop’s long-term outlook, and optimistic that 2024 will bring an uptick in financing and sales volumes throughout the CRE ecosystem.” Walker concluded, “W&D has the people, brand and technology to continue gaining market share and outperforming the competition.”