Walker & Dunlop, Inc. (WD) has reported a 46.30 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $29.63 million, or $0.96 a share in the quarter, compared with $20.25 million, or $0.66 a share for the same period last year.
Revenue during the quarter grew 28.15 percent to $154.79 million from $120.79 million in the previous year period. Total expenses were 68.53 percent of quarterly revenues, down from 72.31 percent for the same period last year. This has led to an improvement of 378 basis points in operating margin to 31.47 percent.
Operating income for the quarter was $48.71 million, compared with $33.45 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $36.23 million compared with $31.03 million in the prior year period. At the same time, adjusted EBITDA margin contracted 228 basis points in the quarter to 23.40 percent from 25.69 percent in the last year period.
"The third quarter was yet another great quarter for Walker & Dunlop, led by the 28% growth in revenue and 45% growth in EPS over the third quarter of 2015," commented Willy Walker, Walker & Dunlop’s chairman and chief executive officer. "With year-to-date EPS of $2.51, up 26% over last year, and a very strong pipeline leading into the fourth quarter, we will once again generate strong double digit earnings per share growth in 2016 for the third consecutive year."
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