Earnings Releases·Oct 30, 2026, 8:06 AM ET

Piper Sandler Companies — Third Quarter 2026 Earnings Summary

Third quarter net revenues declined 8% year-over-year to $443 million, with net income falling 8% to $55 million and diluted EPS dropping 8% to $0.78, though year-to-date net revenues rose 15% to $1.4 billion.
Corporate investment banking hit a record $307 million, driven by financial services and energy sectors, while advisory services grew 18% year-over-year to $250.3 million despite a 9% sequential decline.
Management announced a new $200 million share repurchase program and a $0.20 quarterly dividend, following $268 million in total capital returns to shareholders during the first nine months of 2026.
Strategic expansion included the September 2026 launch of equities trading in Europe via Piper Sandler Europe and the establishment of a London-based debt advisory team within the energy, power & infrastructure group.
Margins were pressured by a $13.5 million investment loss, elevated non-compensation expenses from the New York City office relocation, and a 39.7% effective tax rate, while higher interest rates negatively impacted municipal financing revenues.