UPDATE: Walker & Dunlop Posts Higher Q4 Profit

reported better-than-expected earnings for the fourth quarter. The Bethesda, Maryland-based company posted a quarterly profit of $16.3 million, or $0.50 per share, compared to $11.2 million, or $0.33 per share, in the year-ago period. Its revenue climbed 32% to $112.6 million. However, analysts were expecting earnings of $0.49 per share on revenue of $102.34 million. Mortgage banking gains rose 37% to $71.9 million, while servicing fees climbed 10% to $26.1 million. Net warehouse interest income on loans held for sale jumped 161% to $4.4 million, while net interest income on interim loans surged 223% to $1.9 million. Loan originations climbed 83% to $4.3 billion in the fourth quarter. Adjusted EBITDA surged 31% to $23.4 million in the quarter. "The fourth quarter was an exceptional finish to a very strong year," commented Walker & Dunlop Chairman and CEO Willy Walker, "Our record origination volumes and revenues and our 24% growth in year-over-year adjusted earnings per share are a testament to the great team we have in place." Walker & Dunlop shares gained 0.77% to close at $18.29 yesterday.