Walker & Dunlop Q3 Earnings Tops Estimates; Declares Dividend
(RTTNews) - Walker & Dunlop, Inc. (WD) reported Wednesday that net income for the third quarter declined to $46.83 million or $1.40 per share from $71.72 million or $2.21 per share in the prior-year quarter.
Total revenues for the quarter decreased 9 percent to $315.61 million from $346.29 million in the same quarter last year.
On average, four analysts polled by Thomson Reuters expected the company to report earnings of $1.99 per share on revenue of $350.58 million for the quarter. Analysts' estimates typically exclude special items.
The company said they were significantly impacted by a year-over-year decrease in non-cash MSR income due to spread compression on its Fannie Mae lending.
On Tuesday, the Company's Board of Directors also declared a quarterly dividend of $0.60 per share for the fourth quarter of 2022, payable on December 9, 2022 to all holders of record of the Company's restricted and unrestricted common stock as of November 25, 2022.
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