Walker & Dunlop, Inc. (NYSE:WD) Q4 2016 Earnings Conference Call - Final Transcript
Feb 08, 2017 • 08:30 am ET
Welcome to the Walker & Dunlop Fourth Quarter and Full Year 2016 Earnings Conference Call and Webcast. Hosting the call today from Walker & Dunlop is Willy Walker, Chairman and CEO. He is joined by Steve Theobald, Chief Financial Officer and Claire Harvey, Vice President of Investor Relations. Today's call is being recorded and will be available for replay at 11:30 A.M. Eastern. The dial-in number for the replay is 800-688-7036. The archived call is also available via webcast on the company's website. [Operator Instructions]
It is now my pleasure to turn the floor over to Claire Harvey. Please go ahead, ma'am.
Good morning. Thank you, Erica, and thank you to everyone for joining us this morning. Thank you for joining the Walker & Dunlop fourth quarter and full year 2016 earnings call. I have with me this morning, our Chairman and CEO, Willy Walker and our CFO, Steve Theobald. This call is being webcast live on our website and a recording will be available later this morning. Both our earnings press release and our website provide details on accessing the archived call. This morning, we posted our earnings release and presentation to the Investor Relations section of our website www.walkerdunlop.com. These slides serve as a reference point for some of what Willy and Steve will touch on this morning.
Please also note that we will reference the non-GAAP financial metric, adjusted EBITDA during the course of this call. Please refer to the earnings release posted on our website for a reconciliation of this non-GAAP financial metric. Investors are urged to carefully read the forward-looking statements language in our earnings release. Statements made on this call, which are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements describe our current expectations and actual results may differ materially. Walker & Dunlop is under no obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise. We expressly disclaim any obligation to do so. More detailed information about risk factors can be found in our annual and quarterly reports filed with the SEC.
With that, I will turn the call over to Willy.
Thank you, Claire, and good morning, everyone. Since Q4 in 2016 financial results were so incredibly strong, I thought we'd start the call with Steve discussing our fantastic financial performance. So with that, Steve?
Thanks, Willy. Good morning, everyone. Fourth quarter finished off what was an incredible year of growth and profitability for Walker & Dunlop. That momentum is carried over to the start of this year and we expect 2017 to continue our pattern of growth and record financial performance. I will touch briefly on our fourth quarter results, recap our outstanding 2016 financial performance and layout our expectations for 2017.
Let's start with Slide 3. Fourth quarter was a strong finish to the year with total transaction volume of $6.3 billion, a record for us. Included in