Walker & Dunlop, Inc. reported its financial results for the three and nine months ended September 30, 2024, showing notable changes in revenue, profitability, and strategic developments compared to the previous fiscal period.

For the third quarter of 2024, total revenues increased to $292.3 million, up 9% from $268.7 million in Q3 2023. This growth was driven by a significant rise in loan origination and debt brokerage fees, which reached $73.5 million, a 31% increase from $56.1 million in the prior year. Additionally, fair value of expected net cash flows from servicing rose by 23% to $43.4 million. However, total expenses also increased, totaling $254.8 million, compared to $240.5 million in Q3 2023, leading to an income from operations of $37.5 million, up 33% from $28.2 million.

Net income for the third quarter was $28.8 million, a 34% increase from $21.5 million in the same quarter of 2023. Basic and diluted earnings per share improved to $0.85, compared to $0.64 in the prior year. For the nine months ended September 30, 2024, total revenues were $791.0 million, a slight increase of 1% from $780.1 million in 2023. However, net income for this period decreased to $63.3 million, down 16% from $75.8 million in the previous year.

The company’s total assets as of September 30, 2024, rose to $4.58 billion, compared to $4.05 billion at the end of 2023. Total liabilities also increased significantly to $2.83 billion, up from $2.31 billion, primarily due to a rise in warehouse notes payable, which reached $1.02 billion, compared to $596.2 million at the end of 2023. Total stockholders’ equity slightly decreased to $1.71 billion from $1.72 billion.

Strategically, Walker & Dunlop made significant moves, including the purchase of the remaining noncontrolling interest in Zelman Holdings, LLC for $11.9 million, expected to enhance its capabilities in housing market research and investment banking. The company also reported a substantial increase in its servicing portfolio, which reached $134.1 billion, up from $128.9 billion in the previous year.

The company’s operational liquidity stood at $155.7 million, exceeding the required minimum of $63.4 million, and it maintained compliance with all financial covenants related to its warehouse notes payable. Walker & Dunlop declared a quarterly dividend of $0.65 per share, reflecting a 3% increase from the previous year.