Earnings Releases·Oct 30, 2026, 8:27 AM ET

Oppenheimer Holdings Inc. — Third Quarter 2026 Earnings Summary

Q3 2026 net income fell 74.9% year-over-year to $5.5 million ($0.52 EPS) and adjusted net income declined 34.1% to $20.9 million ($1.96 EPS), driven by a $21.0 million stock appreciation rights expense and reduced investment banking volumes.
Total revenue decreased 10.0% to $382.0 million, with Capital Markets revenue dropping 29.7% to $114.0 million and a pre-tax loss of $9.9 million, while Wealth Management revenue rose 2.5% to $266.2 million.
Assets under management reached a record $59.6 billion and stockholders' equity hit a record $991.1 million, though compensation expenses declined 8.8% to $264.8 million and non-compensation expenses rose 5.7%.
The Board declared a quarterly dividend of $0.20 per share; management provided no specific numerical forward guidance but noted flexibility to invest in growth while a revised incentive compensation program takes several years to fully reflect in results.