Walker & Dunlop Reports Q3 Loss, Cuts Workforce and Issues 2026 Guidance
Walker & Dunlop reported a diluted loss of $1.15 per share and revenue of $298 million for Q3 2026; adjusted core earnings were $0.92 per share. It announced workforce reductions and expects a related Q4 charge of $3 million to $4 million. Full-year guidance is a GAAP diluted loss of $0.10 to earnings of $0.30 per share and adjusted core earnings of $4 to $4.50 per share.
Walker & Dunlop reported a diluted loss of $1.15 per share for the third quarter of 2026, with adjusted core earnings of $0.92 per share and revenue of $298 million, both missing analyst expectations. The company is accelerating plans to sell assets tied to repurchases stemming from Fannie Mae and Freddie Mac fraud investigations and announced workforce reductions to manage costs. CEO Willy Walker noted that rising interest rates shifted borrower demand toward shorter-term, floating-rate debt, impacting GSE and HUD originations.
The company expects a related fourth-quarter charge of $3 million to $4 million and is currently evaluating business units for potential repositioning or divestiture. For the full year 2026, management projects GAAP diluted earnings per share between a loss of $0.10 and earnings of $0.30, with adjusted core earnings guidance of $4 to $4.50 per share.