The following is a summary of the Walker & Dunlop, Inc. (WD) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Walker & Dunlop reported Q1 transaction volume of $6.4 billion, down 5% YoY.

• Q1 diluted earnings per share was $0.35, a 56% decline YoY, due to lower volumes and absent one-time benefits.

• Despite lower volumes, adjusted core EPS was $1.19, representing a 2% YoY increase.

• Adjusted EBITDA increased by 9% from Q1 of the previous year to $74 million.

• The company ended Q1 with over $200 million in cash.

Business Progress:

• Walker & Dunlop experienced a 40% YoY increase in debt brokerage volume.

• Growth was observed in small-balance lending and appraisals with Q1 appraisal revenue and small balance lending revenues growing by 20% and 17%, respectively.

• The company's Affordable Equity revenues stood at $18 million in Q1, and there are plans to boost fundraising and disposition activity.

• A new technology portal for clients has been launched and is expected to increase engagement and save on licensing fees.

• Walker & Dunlop plans to focus on acquiring new loans outside of its portfolio and maximizing opportunities in different property asset classes.

• In terms of financing solutions, the company is accelerating its lending business using preferred equity and is in the process of reviving a major investment fund.

• The company aims to exploit market opportunities for capital deployment across various segments besides multifamily assets through various funds and strong partnerships.

More details: Walker & Dunlop IR

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