NYSE$WD
Walker & Dunlop Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Walker & Dunlop's financial performance was impacted by market uncertainty and rising rates, which slowed transaction volume, while adjusted core EPS and adjusted EBITDA increased, showcasing the durability of the business model.
Walker & Dunlop reported a mixed Q1 2024 with a 4% decrease in total revenues to $228.1 million and a 55% decrease in net income to $11.9 million, or $0.35 per diluted share. However, adjusted EBITDA increased by 9% to $74.1 million, and adjusted core EPS rose by 2% to $1.19, demonstrating the strength of recurring revenue streams despite market headwinds.
- Total transaction volume was $6.4 billion, a 5% decrease compared to Q1 2023.
- Total revenues amounted to $228.1 million, a 4% decrease year-over-year.
- Net income was reported at $11.9 million, with diluted earnings per share at $0.35, reflecting decreases of 55% and 56%, respectively, from Q1 2023.
- The servicing portfolio reached $132.0 billion as of March 31, 2024, marking a 6% increase from March 31, 2023.
Headline financials
Revenue & EPS history
Walker & Dunlop · Revenue · Quarterly
$228M
Revenue by segment
Walker & Dunlop · $273M total across 3 segments · Q2 2023
- Servicing & Asset Management$143M+7.8%52.4%
- Capital Markets$126M-39.4%46.2%
- Corporate$3.79M+1278.2%1.4%
Forward guidance
Walker & Dunlop believes its full-year 2024 financial guidance is achievable given the volume of loan refinancings and equity capital looking to be deployed between now and year-end.
Tailwinds
- Commercial real estate investors are adapting to 'higher for longer' interest rates.
- Investors are actively refinancing properties.
- Investors are buying and selling properties.
- Investors are raising new capital.
- Company's full-year 2024 financial guidance is achievable given loan refinancings and equity capital deployment.
Headwinds
- Market uncertainty.
- Rising interest rates.
- Higher rates are headwinds.
- Uncertain Fed policy are headwinds.
- Team must provide clients with solutions in challenging markets.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.7%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+1.8%
Avg return
30 days after
57%
36 / 63 earnings
Positive
+15.8%
Q4 2016
Best reaction
-20.0%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.0% | +3.8% | -3.6% | |
| Q4 2025 | -20.0% | -17.3% | -26.9% | |
| Q3 2025 | -11.5% | -15.2% | -20.9% | |
| Q1 2025 | -3.3% | -6.6% | -10.5% | |
| Q4 2024 | -5.3% | -6.2% | -4.2% | |
| Q3 2024 | -0.9% | -2.4% | -3.6% | |
| Q2 2024 | +3.2% | +3.2% | +4.8% | |
| Q1 2024 | +2.7% | +4.1% | +3.5% | |
| Q4 2023 | +2.9% | +0.3% | -4.9% | |
| Q3 2023 | -1.0% | +11.4% | +29.4% | |
| Q2 2023 | -2.2% | -4.2% | -5.4% | |
| Q1 2023 | +3.1% | -2.5% | +15.2% | |
| Q4 2022 | -4.3% | -4.6% | -21.6% | |
| Q3 2022 | -1.1% | -1.3% | -4.3% | |
| Q2 2022 | -6.2% | -4.4% | -13.6% | |
| Q1 2022 | -13.4% | -16.5% | -11.4% | |
| Q4 2021 | +6.5% | +8.7% | +3.7% | |
| Q3 2021 | +8.5% | +10.3% | +9.4% | |
| Q2 2021 | +1.1% | -0.1% | +8.5% | |
| Q1 2021 | -7.7% | -12.3% | -10.9% | |
| Q4 2020 | +10.7% | +16.0% | +16.7% | |
| Q3 2020 | +6.9% | +15.8% | +37.9% | |
| Q2 2020 | +9.1% | +14.4% | +7.8% | |
| Q1 2020 | +8.3% | +3.5% | +37.5% | |
| Q4 2019 | +11.2% | +13.9% | -3.9% | |
| Q3 2019 | +0.5% | +3.2% | +3.9% | |
| Q2 2019 | +2.4% | +2.8% | -9.2% | |
| Q1 2019 | +0.9% | +0.6% | -8.5% | |
| Q4 2018 | +5.5% | +6.9% | +9.0% | |
| Q3 2018 | -6.5% | -7.7% | -3.5% | |
| Q2 2018 | -6.9% | -10.2% | -8.0% | |
| Q1 2018 | -6.0% | -5.0% | -2.3% | |
| Q4 2017 | +5.4% | -3.0% | +5.4% | |
| Q3 2017 | -2.1% | -14.3% | -10.1% | |
| Q2 2017 | -1.1% | -2.3% | -4.7% | |
| Q1 2017 | +8.2% | +8.8% | +7.8% | |
| Q4 2016 | +15.8% | +18.8% | +27.4% | |
| Q3 2016 | +11.3% | +16.2% | +21.4% | |
| Q2 2016 | +14.1% | +16.6% | +13.1% | |
| Q1 2016 | +6.9% | — | — | |
| Q4 2015 | -9.2% | — | — | |
| Q3 2015 | +4.9% | — | — | |
| Q2 2015 | -4.5% | — | — | |
| Q1 2015 | +12.0% | — | — | |
| Q4 2014 | -8.6% | — | — | |
| Q3 2014 | +0.1% | — | — | |
| Q2 2014 | +2.0% | — | — | |
| Q1 2014 | -3.5% | — | — | |
| Q4 2013 | +14.0% | — | — | |
| Q3 2013 | -3.2% | — | — | |
| Q2 2013 | -18.7% | — | — | |
| Q1 2013 | -0.8% | — | — | |
| Q4 2012 | -4.5% | — | — | |
| Q3 2012 | +5.8% | — | — | |
| Q2 2012 | -3.7% | — | — | |
| Q1 2011 | -1.7% | — | — | |
| Q1 2012 | +1.2% | — | — | |
| Q4 2009 | +1.3% | — | — | |
| Q4 2011 | +1.3% | — | — | |
| Q3 2010 | +2.7% | — | — | |
| Q3 2011 | +2.7% | — | — | |
| Q2 2011 | +3.1% | — | — | |
| Q4 2010 | +3.1% | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro