Walker & Dunlop reported second-quarter 2026 results with total revenues of $306.7 million and net income of $3.0 million, or $0.09 diluted EPS. Adjusted core EPS was $1.19 for the quarter. The firm noted ongoing disposition of indemnified and repurchased loans and continued growth in its servicing portfolio.
Financial Highlights
- Total revenues: $306.7 million for Q2 2026 (down 4% year-over-year).
- Net income: $3.0 million for Q2 2026; diluted earnings per share: $0.09 (both down 91% from Q2 2025).
- Adjusted core EPS: $1.19 for Q2 2026 (up 3% from Q2 2025).
- Adjusted EBITDA: $62.1 million for Q2 2026.
- Dividend declared: $0.68 per share for Q3 2026; share repurchase program authorized up to $75.0 million (remaining capacity $61.7 million as of June 30, 2026).
Business Highlights
- Total transaction volume: $14.4 billion in Q2 2026, up 3% year-over-year; debt financing volume was $12.53 billion.
- Servicing portfolio expanded to $145.8 billion as of June 30, 2026, up 6% year-over-year, with total managed portfolio of $164.5 billion and assets under management of $18.7 billion.
- Year-to-date GSE market share rose to 14.7% (compared with 11.2% in 2025), with year-to-date debt financing volume of $24.3 billion (up 44% year-to-date).
- Brokered lending grew (brokered debt financing $7.40 billion in the quarter), while HUD originations increased 43% year-over-year, reflecting broader capital relationships beyond the Agencies.
- Indemnified and repurchased loans: repurchased loan balance declined to $193.3 million as of June 30, 2026 (subsequently reduced by $39.4 million to $153.8 million), with $41.7 million of reserves; quarters include $23.2 million of operating and credit-related expenses tied to legacy repurchases.
Original SEC Filing:
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