​

For the three months ended September 30, 

​

For the nine months ended September 30, 

​

EPS Calculations (in thousands, except per share amounts)

2026

​

2025

​

2026

​

2025

​

Calculation of basic EPS

​

​

​

​

​

​

​

​

​

​

​

​

​

Walker & Dunlop net income (loss)

$

(37,258)

​

$

33,452

​

$

(18,381)

​

$

70,158

​

​

Less: dividends and undistributed earnings allocated to participating securities

941

​

829

​

2,677

​

1,688

​

​

Net income (loss) applicable to common stockholders

$

(38,199)

​

$

32,623

​

$

(21,058)

​

$

68,470

​

​

Weighted-average basic shares outstanding

​

33,284

​

​

33,376

​

​

33,313

​

​

33,333

​

​

Basic EPS

$

(1.15)

​

$

0.98

​

$

(0.63)

​

$

2.05

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Calculation of diluted EPS

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income (loss) applicable to common stockholders

$

(38,199)

​

$

32,623

​

$

(21,058)

​

$

68,470

​

​

Add: reallocation of dividends and undistributed earnings based on assumed conversion

​

—

​

​

—

​

​

—

​

​

—

​

​

Net income (loss) allocated to common stockholders

$

(38,199)

​

$

32,623

​

$

(21,058)

​

$

68,470

​

​

Weighted-average basic shares outstanding

​

33,284

​

​

33,376

​

​

33,313

​

​

33,333

​

​

Add: weighted-average diluted non-participating securities

​

—

​

​

21

​

​

—

​

​

22

​

​

Weighted-average diluted shares outstanding

​

33,284

​

​

33,397

​

​

33,313

​

​

33,355

​

​

Diluted EPS

$

(1.15)

​

$

0.98

​

$

(0.63)

​

$

2.05

​

​