Walker & Dunlop Inc. reported a second quarter 2015 net income of $20.2 million, or $0.67 per diluted share, a 56 percent increase from second quarter 2014 net income of $12.9 million, or $0.40 per diluted share. Total revenues were $113.9 million for the second quarter 2015, a 34 percent increase over the second quarter of 2014. Adjusted EBITDA for the second quarter 2015 was $28.9 million compared to $20.9 million for the second quarter 2014, a 39 percent increase.
“I would like to congratulate every member of the Walker & Dunlop team for generating record revenue and earnings per share during the second quarter of 2015,” Walker & Dunlop Chairman and CEO Willy Walker said. “Our strong financial results are due to the fantastic group of professionals we have assembled and the market leadership position we have worked very hard to create. We continue to grow and gain market share, all while expanding our brand and expertise across the country.
“Investors in Walker & Dunlop own stock in a company that is generating strong top line revenue growth, record earnings per share, consistent cash flow, and long-term shareholder value by growing our loan servicing portfolio by 20 percent over the past year with no diminution to the average servicing fee nor average life of the portfolio.
“The investments we have made over the past several years to expand our footprint and product offering are showing strong results. We are in the midst of a mortgage refinancing cycle that is unprecedented. The volume of commercial mortgages originated in 2005, 2006, and 2007 had never been seen before, and the majority of that paper must be refinanced over the next several years. Walker & Dunlop has the platform, people, and market position to benefit tremendously from the need for commercial real estate financing.”