Walker & Dunlop’s Q1’23 Results Reflect Strength of Recurring Revenue Businesses Within Challenging Transactions Market
- Bethesda, Maryland | May 4, 2023
Walker & Dunlop, Inc. (NYSE: WD) (the “Company,” “Walker & Dunlop” or “W&D”) reported total revenues of $238.7 million for the first quarter of 2023, a decrease of 25% year over year. First quarter total transaction volume was $6.7 billion, down 47% year over year. Net income for the first quarter of 2023 was $26.7 million, or $0.79 per diluted share, both down 63% year over year, as the first quarter of 2022 included a one-time benefit of $39.6 million that contributed $0.92 to diluted earnings per share. Adjusted EBITDA1 was $68.0 million, up 9% over the same period in 2022. Adjusted core EPS was $1.17, up 10% year over year. The Company’s Board of Directors declared a dividend of $0.63 per share for the second quarter of 2023.