Walker & Dunlop Investor Day Unveils Journey to ’30
Strategic Growth Plan To Be
Chairman and Chief Executive Officer
Journey to ’30 Financial Targets
As part of the company’s long-term strategy
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$115 billion of total transaction volumes - $2+ billion of total revenues
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$8.00 to$10.00 of diluted earnings per share -
$400 million to$500 million of adjusted EBITDA1
| 1) |
This is a non-GAAP financial measure. For a reconciliation of the measure to GAAP net income, refer to the section of this press release titled “Non-GAAP Financial Measures” and “Adjusted Financial Measure Reconciliation to GAAP.” |
The presentations will provide additional insight into how the company plans to expand its platform, deepen client relationships, and achieve its mission.
Investor Day Program
Walker & Dunlop’s Investor Day will feature presentations from members of the company’s executive leadership team and industry experts. The event will include in-depth discussions on Walker & Dunlop’s strategy, business segments, and the key initiatives that will drive the company’s next phase of growth.
Live Webcast
Investors, analysts, and members of the public are invited to watch the live webcast of the event.
Webcast: https://event.webcasts.com/viewer/event.jsp?ei=1750980&tp_key=f446664d65
Presentation materials and a replay of the webcast will also be available following the event on the Investor Relations section of Walker & Dunlop’s website.
About
Non-GAAP Financial Measures
To supplement our financial statements presented in accordance with
Adjusted EBITDA represents net income before income taxes, interest expense on our corporate debt, and amortization and depreciation, adjusted for provision (benefit) for credit losses, net write-offs based on the final resolution of the defaulted loans or collateral, loan repurchase losses, stock-based compensation, the fair value of expected net cash flows from servicing, net of guaranty obligation, the write-off of the unamortized balance of deferred issuance costs associated with the repayment of a portion of our corporate debt, goodwill impairment, and contingent consideration liability fair value adjustments when the fair value adjustment is a triggering event for a goodwill impairment assessment. Furthermore, adjusted EBITDA is not intended to be a measure of free cash flow for our management’s discretionary use, as it does not reflect certain cash requirements such as tax and debt service payments. The amounts shown for adjusted EBITDA may also differ from the amounts calculated under similarly titled definitions in our debt instruments, which are further adjusted to reflect certain other cash and non-cash charges that are used to determine compliance with financial covenants. Because not all companies use identical calculations, our presentation of adjusted EBITDA may not be comparable to similarly titled measures of other companies.
We use adjusted EBITDA to evaluate the operating performance of our business, for comparison with forecasts and strategic plans and for benchmarking performance externally against competitors. We believe that this non-GAAP measure, when read in conjunction with the Company’s GAAP financial information, provide useful information to investors by offering:
- the ability to make more meaningful period-to-period comparisons of the Company’s on-going operating results;
- the ability to better identify trends in the Company’s underlying business and perform related trend analyses; and
- a better understanding of how management plans and measures the Company’s underlying business.
We believe that this non-GAAP financial measure has limitations in that it does not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP and that this non-GAAP financial measure should only be used to evaluate the Company’s results of operations in conjunction with the Company’s GAAP financial information. For more information on adjusted EBITDA, refer to the section of this press release below titled “Adjusted Financial Measure Reconciliation to GAAP.”
Forward-Looking Statements
Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans, or intentions. The forward-looking statements contained in this press release reflect our current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause actual results to differ significantly from those expressed or contemplated in any forward-looking statement.
While forward-looking statements reflect our good faith projections, assumptions and expectations, they are not guarantees of future results. Furthermore, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes, except as required by applicable law. Factors that could cause our results to differ materially include, but are not limited to: (1) general economic conditions and multifamily and commercial real estate market conditions, (2) changes in interest rates, (3) regulatory and/or legislative changes to Freddie Mac,
For a further discussion of these and other factors that could cause future results to differ materially from those expressed or contemplated in any forward-looking statements, see the section titled “Risk Factors” in our most recent Annual Report on Form 10-K and any updates or supplements in subsequent Quarterly Reports on Form 10-Q and our other filings with the
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Adjusted Financial Measure Reconciliation to GAAP |
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ADJUSTED EBITDA 2030 |
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(dollars in thousands) |
Base |
Bold |
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Walker & Dunlop Net Income |
$ |
273,739 |
|
$ |
343,659 |
|
|
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Income Tax Expense |
91,246 |
|
114,553 |
|
|||
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Interest Expense on Term Loan |
60,349 |
|
59,834 |
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|||
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Amortization and Depreciation |
275,931 |
|
293,719 |
|
|||
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Stock Compensation |
39,449 |
|
41,120 |
|
|||
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Provision for Credit Losses |
8,000 |
|
8,000 |
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|||
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MSR Income1 |
(279,702 |
) |
(323,833 |
) |
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Other Adjustments |
- |
|
2,500 |
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|||
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Adjusted EBITDA |
$ |
469,012 |
|
$ |
539,552 |
|
|
|
1) |
The fair value of expected net cash flows from servicing, net of guaranty obligation. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260310851352/en/
Investors:
Investor Relations
Phone 301.202.3207
investorrelations@walkeranddunlop.com
Media:
Public Relations
Phone 301.564.3291
nhvwaldegg@walkerdunlop.com
Phone 301.215.5500
Source: