Walker & Dunlop Misses Q3 2026 Estimates as Revenue Falls 12% to $298.4M
Revenue of $298.4M vs. $310.9M expected and adjusted EPS of $0.92 vs. $0.97; revenue down 12% from a year earlier.
Walker & Dunlop (WD) missed estimates for the third quarter of 2026 on both revenue and adjusted EPS. Revenue was $298.4 million, down 12% from a year earlier, below the $310.9 million estimate, and adjusted EPS was $0.92, down 25% from a year earlier, below the $0.97 estimate.
Q3 2026 scorecard
| Parameters | Expected | Actual | Beat/Miss |
|---|---|---|---|
| Adjusted EPS | $0.97 | $0.92 | Miss by 5.6% |
| Revenue | $310.9M | $298.4M | Miss by 4.0% |
| Change | YoY | QoQ |
|---|---|---|
| Adjusted EPS | ▼ 25% | ▼ 23% |
| Revenue | ▼ 12% | ▼ 2.7% |
By our calculation, revenue was $12.5 million below the estimate and adjusted EPS was $0.05 below it. The QoQ column compares with the previous quarter's revenue of $306.7 million and adjusted EPS of $1.19. The YoY column compares with $337.7 million and $1.22 in the same quarter a year earlier.
Track record
- EPS record. Adjusted EPS beat the estimate in 4 of the last 8 reports, including this one.
- Revenue record. Revenue beat the estimate in 2 of the last 8 reports.
- Revenue trend. Revenue over the last 5 reports, oldest first: $337.7 million, $340.0 million, $301.3 million, $306.7 million and $298.4 million.
What to watch
- Next-quarter estimates. Consensus calls for EPS of $1.11 and revenue of $349.3 million next quarter, based on 3 analysts.
- Revenue growth. Whether revenue stabilizes after this quarter's 12% decline from a year earlier to $298.4 million.
- Estimate record. Whether Walker & Dunlop extends a record of beating EPS estimates in 4 of its last 8 reports.
- Related coverage. See our reports on Privia Health, Primo Brands, Lamar Advertising and Haemonetics.
Sources: Results are from Walker & Dunlop's Nov. 5, 2026 quarterly report. Estimates are consensus figures. The prior-quarter and year-ago comparison figures are from Walker & Dunlop's earlier quarterly reports. Items labeled by our calculation are our own arithmetic. This article is informational only and is not investment advice.
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