Core Insights - The company is experiencing uncertainty around AI investments, similar to past sentiments regarding the metaverse, with a notable increase in spending being communicated [1][2] - Investors are questioning the return on significant capital expenditures (capex) aimed at achieving artificial general intelligence (AGI) and how this will impact advertising revenue [2][6] - Comparatively, Alphabet is expected to deliver faster earnings growth than the company, with projections of 25-26% growth versus only 3% for the company next year [5][6] Financial Metrics - The company is forecasted to grow earnings per share by only 3% next year, while Alphabet is projected to grow at a significantly higher rate [5] - The current trading multiples for Alphabet and the company are similar, but Alphabet is expected to achieve approximately 50% faster earnings growth over the next two years [6] Spending and Investment Strategy - There is a focus on whether the company can reduce its spending, as many of its capital expenditure plans may already be committed [7][8] - The CFO indicated that next year's budget is not fully finalized, suggesting potential for adjustments based on investor feedback [8] - A recent corporate bond issuance has seen significant oversubscription, indicating that there is market support for the company's capital expenditures [9][10]

Financial Performance - Net income for Q3 2025 was $21.7 million, or $2.06 per share, down from $24.5 million, or $2.38 per share, in Q3 2024[1] - Revenue increased by 13.7% to $424.4 million in Q3 2025, compared to $373.4 million in Q3 2024, driven by robust equity underwriting and higher transaction-based commissions[1][9] - Wealth Management revenue was $259.7 million, a 5.6% increase year-over-year, while pre-tax income decreased by 13.2% to $62.5 million[10][17] - Capital Markets revenue surged by 30.7% to $162.1 million, with pre-tax income of $12.3 million compared to a loss of $6.1 million in the previous year[17][19] - Total revenue for the three months ended September 30, 2025, was $424,438,000, representing a 13.7% increase compared to $373,352,000 in the same period of 2024[27] - Net income attributable to Oppenheimer Holdings Inc. for the three months ended September 30, 2025, was $21,712,000, a decrease of 11.4% from $24,508,000 in 2024[27] - Pre-tax income for the three months ended September 30, 2025, was $31,635,000, a decrease of 10.6% from $35,370,000 in 2024[27] Revenue Breakdown - Commissions revenue increased by 17.1% to $120,684,000 for the three months ended September 30, 2025, compared to $103,079,000 in 2024[27] - Investment banking revenue surged by 48.5% to $77,488,000 for the three months ended September 30, 2025, up from $52,185,000 in 2024[27] Expenses and Compensation - Total expenses for the three months ended September 30, 2025, were $392,803,000, reflecting a 16.2% increase from $337,982,000 in 2024[27] - Compensation expenses rose to $290.2 million, an increase of 21.9% from $237.9 million in Q3 2024, primarily due to higher production-related expenses[6][21] - Compensation and related expenses rose by 22.0% to $290,222,000 for the three months ended September 30, 2025, compared to $237,935,000 in 2024[27] - Compensation as a percentage of revenue increased to 68.4% in Q3 2025 from 63.7% in Q3 2024[23] Tax and Equity - The effective tax rate for Q3 2025 was 31.4%, slightly higher than 30.7% in the prior year[22][23] - Total stockholders' equity reached $920.3 million, up from $837.8 million in the prior year[22] Shareholder Information - The company announced a quarterly dividend of $0.18 per share, payable on November 28, 2025[23] - Basic earnings per share for the three months ended September 30, 2025, was $2.06, down 13.4% from $2.38 in 2024[27] - Earnings per share (diluted) for the three months ended September 30, 2025, was $1.90, down 12.0% from $2.16 in the same period of 2024[27] - The weighted average number of diluted shares outstanding increased by 1.5% to 11,450,346 for the three months ended September 30, 2025, compared to 11,277,865 in 2024[27] Assets Under Management - Assets under management (AUM) reached a record high of $55.1 billion, up from $49.1 billion in the prior year, reflecting a $6.8 billion increase in asset values[10][16]

Financial Performance - As of September 30, 2025, client assets under management (AUM) totaled $55.1 billion, an increase of 12.2% from $49.1 billion in the previous year[191][207]. - Revenue for the third quarter of 2025 was $424.4 million, reflecting a 13.7% increase compared to $373.4 million in the third quarter of 2024[206][207]. - Net income for the third quarter of 2025 was $21.7 million, down 11.4% from $24.5 million in the same quarter of 2024, resulting in basic earnings per share of $2.06[206][207]. - Total revenue for the nine months ended September 30, 2025, was $1,165.4 million, reflecting a 10.3% increase from $1,057.1 million in the same period of 2024[210]. Revenue Breakdown - Wealth Management revenue for Q3 2025 was $259.7 million, a 5.6% increase from Q3 2024, while pre-tax income decreased by 13.2% to $62.5 million[211]. - Capital Markets revenue for Q3 2025 reached $162.1 million, a significant 30.7% increase compared to the prior year, with pre-tax income of $12.3 million compared to a loss of $6.1 million in Q3 2024[216]. - Investment Banking revenue in Capital Markets increased by 49.8% to $75.0 million, driven by robust underwriting volumes[217]. - Equities underwriting fees surged by 283.9% to $48.3 million, reflecting strong market activity in financial institutions and technology sectors[217]. Expenses and Compensation - Compensation expenses rose to $290.2 million in the third quarter of 2025, a 22.0% increase from $237.9 million in the prior year quarter[207]. - Total expenses in Wealth Management increased by 13.3% to $197.2 million, with compensation expenses rising by 18.9% to $149.0 million[212]. - The Company reported a compensation ratio of 57.4% in Wealth Management, up from 50.9% in the prior year, indicating increased compensation relative to revenue[212]. Assets and Liabilities - Assets under administration (AUA) reached $143.5 billion, up 10.6% from $129.8 billion in the previous year[207]. - Total assets increased by 12.9% from December 31, 2024, indicating strong growth in the Company's financial position[223]. - The Company had an outstanding bank call loan balance of $262.3 million as of September 30, 2025, compared to $252.1 million at the end of 2024[223]. - Securities loan balances totaled $286.7 million as of September 30, 2025, up from $235.5 million at December 31, 2024[232]. Cash Flow and Financial Obligations - Cash provided by operating activities for the nine months ended September 30, 2025, was $11.8 million, a significant improvement from a cash used of $182.9 million in the same period of 2024[241]. - The company has long-term cash requirements of $195.7 million for operating lease obligations, with an estimated cash requirement of $10.9 million for the remainder of 2025[240]. Strategic Focus and Market Conditions - The Company is focused on expanding its wealth management business through strategic hiring and targeted acquisitions[193]. - The Company plans to continue investing in technology to enhance client service and maintain competitiveness while managing expenses[194]. - The ongoing U.S. government shutdown may adversely impact the Company's underwriting and investment banking fees in the fourth quarter of 2025[201]. - The Federal Reserve reduced the federal funds rate by 25 basis points in September and again in October 2025, now targeting a range of 3.75% to 4.0%[197]. Regulatory and Compliance Matters - Oppenheimer received an administrative subpoena from OFAC regarding anti-money laundering policies, and the company is responding to this request[262]. - The passage of the OBBBA is not expected to have a material impact on the company's financial position or results of operations[259]. - Amendments to Section 162(m) may adversely impact the company's operating results due to anticipated increases in income tax expense and effective tax rate starting January 1, 2027[260]. - The company intends to continue reporting results on a quarterly basis despite potential SEC rule changes to semi-annual reporting[261]. Risk Factors - The company cautions that various factors could cause actual results to differ materially from forward-looking statements, including market volatility and economic conditions[264]. - There were no material changes to market risk disclosures during the nine months ended September 30, 2025[266].

Accessibility StatementSkip Navigation NEW YORK, Oct. 31, 2025 /PRNewswire/ - Oppenheimer Holdings Inc. (NYSE: OPY) (the "Company" or "Firm") today reported net income of $21.7 million or $2.06 basic earnings per share for the third quarter of 2025, compared with net income of $24.5 million or $2.38 basic earnings per share for the third quarter of 2024. Third quarter 2025 results were significantly impacted by higher pre-tax compensation expenses for liability-based awards totaling $13.5 million or $0.95 b ...

Most recently, Logan was a senior municipal investment banker at Raymond James, where he broadened the firm's market presence, generated incremental revenue and recruited senior bankers to strengthen its position across the public finance sector. Prior to that, he spent 26 years at Citigroup Global Markets. He held multiple leadership roles there and advised on some of the largest and most complex financings in the municipal marketplace. In 2024, Logan served as the lead senior banker on Jefferson County, A ...

Core Insights - The company Oppenheimer (NYSE: OPY) reported a strong quarter, benefiting from a quick recovery in markets which supported its wealth management business, leading to record assets under management (AUM) [2] - The volatility in prior markets positively impacted the sales and trading activities of the company, indicating a favorable environment for these operations [2] - The Value Lab, an investment group associated with Oppenheimer, focuses on long-only value investment strategies, aiming for a portfolio yield of approximately 4% [1][2] Group 1 - Oppenheimer's wealth management business achieved fresh records in AUM due to market recovery [2] - The sales and trading activities experienced a positive outcome due to previous market volatility [2] - The Value Lab offers members real-time updates, global market news, and feedback on stock ideas, enhancing investor engagement [2] Group 2 - The Valkyrie Trading Society consists of analysts who focus on high conviction, non-correlated investment ideas in developed markets, aiming for limited downside risk and outsized returns [3]

Core Insights - Oppenheimer (NYSE: OPY) reported a strong quarter, benefiting from a quick market recovery that supported its wealth management business, leading to record assets under management (AUM) [2] - The volatility in prior markets positively impacted sales and trading activities, contributing to the overall performance of the company [2] - The Value Lab, an investment group, focuses on long-only value ideas, aiming for a portfolio yield of approximately 4% and has seen success over the past five years by engaging in international markets [1] Group 1 - Oppenheimer's wealth management business achieved fresh records in AUM due to market recovery [2] - The sales and trading activities thrived as a result of previous market volatility [2] - The Value Lab offers members real-time updates, global market news, and feedback on stock ideas, enhancing investment strategies [2] Group 2 - The Valkyrie Trading Society consists of analysts sharing high-conviction, non-correlated investment ideas aimed at generating outsized returns in the current economic climate [3] - The society focuses on long-only investments, indicating a conservative approach to risk management [3]

Core Insights - Oppenheimer & Co. Inc. has appointed James Yoo as Managing Director in its Healthcare Equity Capital Markets Investment Banking Group, focusing on Biotechnology Equity Capital Markets transactions [1][3] Group 1: Appointment and Role - James Yoo brings 27 years of experience and expertise in various financing structures, including PIPEs, Follow-on Offerings, CMPOs, and Registered Direct transactions [2] - His previous role involved advising healthcare-dedicated investment funds and biotechnology companies on Oppenheimer's Sales & Trading Desk since 2023 [3] Group 2: Impact on the Company - Yoo's track record and relationships in the biotechnology investment community are expected to enhance Oppenheimer's leadership in Healthcare Equity Capital Markets [3] - The firm aims to provide innovative capital markets solutions to help biotech companies secure necessary financing for advancing science and improving patient outcomes [4]

Core Viewpoint - Nike has shown a significant improvement in revenue, indicating a potential reinvigoration under new management, despite ongoing challenges in the competitive landscape and macroeconomic conditions [2][4][5]. Revenue Performance - Nike's recent quarter reported a revenue beat, with sales showing improvement compared to previous periods, although still not meeting the company's historical standards [2][4]. - Gross margins were better than expected, and the company effectively controlled expenses, contributing to the positive revenue performance [2]. Management and Strategy - Under new management, Nike is focusing on product innovation and re-engaging with wholesale partners, which is expected to take time but may lead to further progress in the coming quarters [4][5]. - The narrative suggests that Nike is on a path to reinvigorate its brand and operations, which could enhance its market position [4]. Competitive Landscape - There are concerns that Nike has lost its competitive edge, allowing rivals to gain market share, compounded by a challenging macroeconomic environment and uncertainties in China [5][6]. - The competitive landscape is described as increasingly difficult, with potential impacts from tariffs and consumer behavior in China [5][6]. Importance of China Market - Currently, China represents a relatively small market for Nike, but its significance may grow if the company successfully reinvigorates its business and attracts higher investor interest [7]. - As long as the situation in China does not deteriorate significantly, improvements in other areas of Nike's business could be sufficient for the company's overall performance [8].

Accessibility StatementSkip Navigation Firm strengthens multi-asset infrastructure and adds senior talent as part of next phase of strategic growth NEW YORK, Sept. 30, 2025 /PRNewswire/ -- Oppenheimer & Co. Inc. — a leading investment bank, wealth manager and subsidiary of Oppenheimer Holdings (NYSE: OPY) — today announced the expansion of its Custody and Prime Services (CAPS) platform, designed to better serve the evolving needs of small- and mid- sized hedge funds, investment managers, and family offices. ...