Piper Sandler Companies reported second-quarter 2026 results with revenue of $495.5M and diluted EPS of $0.95, driven by strong advisory and equity activity that lifted net income to $67.8M versus the year-ago quarter.
Financial Highlights
- Revenue was $495.5M, compared with $396.8M in the prior-year quarter; YoY change 24.9%.
- Net income was $67.8M, compared with $42.2M in the prior-year quarter; YoY change 60.8%.
- Diluted EPS was $0.95, compared with $0.59 in the prior-year quarter; YoY change 61%.
Business Highlights
- Revenue growth: Net revenues rose about 25% year-over-year for the quarter ($495.5M) and about 29% year-to-date, led by strong advisory and equity activity.
- Channel shift: Investment banking led growth with advisory up 34% in the quarter, while fixed income services declined amid rate volatility.
- Brand momentum: Increased M&A and healthcare book‑run roles and higher equity brokerage volumes and fees strengthened the franchise.
- Operational milestones: Completed corporate headquarters relocation to Minneapolis and executed a stock split; the company returned capital via repurchases and a special dividend.
- Outlook & risk: Management expects seasonal brokerage softness and stable fixed income activity, noting macro and geopolitical risks that could affect deal flow and trading volumes.
Original SEC Filing:
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