GlobeNewswire·Nov 12, 2026, 8:01 AM ET

Cohen & Company Reports Third Quarter 2026 Financial Results

COHN SVIA

Cohen & Company Inc. reported financial results for the third quarter ended September 30, 2026, alongside the appointment of Daniel G. Cohen as Chief Executive Officer.
The company generated enterprise net income of $6.9 million and adjusted pre-tax income of $648,000 for the quarter.
Total revenue for the three months ended September 30, 2026, was $32.4 million, down from $69.5 million in the prior quarter.
Investment banking and new issue revenue decreased to $12.7 million due to $17.6 million in mark-to-market losses on financial instruments received as consideration for services.
Cohen & Company Capital Markets underwrote six SPAC IPOs and one closed-end fund, raising $1.8 billion, while advising on eight de-SPAC transactions.
The gestation repo book reached an all-time high of $4.5 billion, contributing to higher trading revenue from the mortgage group.
Net trading revenue was $12.5 million, down $1.4 million from the prior quarter, partially offset by the mortgage business growth.
Asset management revenue was $1.7 million, a decrease of $0.2 million from the prior quarter.
Principal transactions and other revenue was $5.5 million, primarily driven by mark-to-market gains on the company's position in Silvia, Inc.
Compensation and benefits expense fell to $21.1 million from $48.2 million in the prior quarter due to revenue fluctuations affecting variable incentive compensation.
The company reported a loss from equity method affiliates of $1.3 million, driven by losses in Columbus Circle Capital Corp III and Dutch real estate investments.
An income tax benefit of $6.3 million was recorded, largely resulting from a reduction in the valuation allowance against carryforward tax assets.
Total equity increased to $119.6 million as of September 30, 2026, from $103.1 million as of December 31, 2025.
The Board of Directors declared a quarterly dividend of $0.25 per share, payable on December 14, 2026, to stockholders of record as of November 30, 2026.
Net income attributable to Cohen & Company Inc. was $6.7 million, or $0.12 per fully diluted share, for the three months ended September 30, 2026.
Fully diluted net income per share year-to-date stands at $1.47.
The company has 135 employees as of September 30, 2026, up from 129 employees in the prior quarter.
A conference call to discuss these results was scheduled for November 12, 2026, at 10:00 a.m. Eastern Time.

Company: Cohen & Company Inc.
Keywords: NYSE:COHN, Cohen & Company Inc.