Financial Performance - Net revenues for Q2 2024 were $339 million, a 17% increase year-over-year, while adjusted net revenues were $357 million, reflecting a 29% increase compared to Q2 2023[2]. - The net income attributable to Piper Sandler Companies was $35 million, representing a 779% increase compared to Q2 2023, while earnings per diluted common share were $1.97, a 757% increase year-over-year[1][7]. - For Q2 2024, net revenues were $339.2 million, flat compared to Q1 2024 and up 17% from Q2 2023[10]. - Investment banking revenues reached $259.8 million, increasing 13% from Q1 2024 and 41% from Q2 2023[10]. - Adjusted net revenues for Q2 2024 were $356.7 million, a 7% increase from Q1 2024 and a 29% increase from Q2 2023, driven by increased corporate investment banking activity[18]. - Adjusted net income for Q2 2024 was $45.2 million, or $2.52 per diluted common share, a decrease from Q1 2024 but an increase from Q2 2023[22]. - Adjusted total revenues for Q2 2024 reached $358,375,000, a 6.5% increase from $335,288,000 in Q1 2024 and a 28.8% increase from $278,350,000 in Q2 2023[33]. - Adjusted earnings per diluted common share for Q2 2024 was $2.52, down from $2.79 in Q1 2024 but up from $1.13 in Q2 2023[33]. - Net income for Q2 2024 was $34.8 million, or $1.97 per diluted share, decreasing from Q1 2024 but increasing from Q2 2023[15]. Revenue Breakdown - Advisory services revenues reached $184 million, up 42% year-over-year, driven by higher fees and increased transaction completions across various sectors[2]. - Corporate financing revenues were $51 million, primarily driven by equity financings for biopharma companies, marking a 37% increase year-over-year[2]. - Municipal financing revenues increased to $25 million, reflecting growth in governmental business[2]. - Advisory services revenues were $183.9 million, up 17% from Q1 2024 and 42% from Q2 2023, driven by more completed transactions[10]. - Corporate financing revenues decreased 4% from Q1 2024 to $50.6 million but increased 37% from Q2 2023[10]. - Municipal financing revenues increased 22% from Q1 2024 to $25.2 million and 46% from Q2 2023[10]. Expenses and Margins - Compensation and benefits expenses rose by 6% to $234.7 million compared to Q1 2024, and increased by 24% year-over-year[7]. - Non-interest expenses for Q2 2024 were $310.9 million, up 7% from Q1 2024 and 13% from Q2 2023[12]. - The pre-tax margin for Q2 2024 was 8.3%, a decrease of 7.0 percentage points compared to Q1 2024, but an increase of 3.3 percentage points year-over-year[1][7]. - The effective tax rate for Q2 2024 was 47.0%, significantly higher than the 5.4% rate in Q1 2024[7]. - Adjusted operating expenses for Q2 2024 were $295.1 million, up 6% from Q1 2024 and 18% from Q2 2023, with an adjusted compensation ratio of 62.9%[19]. - Adjusted operating income for Q2 2024 was $61.6 million, a 10% increase from Q1 2024 and a 134% increase from Q2 2023, with an adjusted operating margin of 17.3%[20]. Shareholder Returns - The quarterly cash dividend was increased by 8% to $0.65 per share, with a total of $108 million returned to shareholders year-to-date through share repurchases and dividends[5]. - The Board of Directors declared a quarterly cash dividend of $0.65 per share, an 8% increase compared to the previous dividend, to be paid on September 13, 2024[23]. - The company repurchased approximately 27,000 shares for $5.5 million in Q2 2024, and a total of 316,000 shares for $57.6 million in the first half of 2024[25]. Employee and Equity Information - Full-time employees increased to 1,768 as of March 31, 2024, compared to 1,706 a year earlier[26]. - Common shareholders' equity rose to $1,126.3 million as of March 31, 2024, up from $1,100.6 million in the previous quarter[26]. Future Outlook and Acquisitions - The company announced the pending acquisition of Aviditi Advisors, expected to close in late Q3 or early Q4 2024, which will enhance its investment banking capabilities[3]. - The company is in the process of acquiring Aviditi Advisors, which is expected to enhance its corporate advisory capabilities[29]. - Forward-looking statements indicate potential risks related to market conditions and transaction volumes that could impact future performance[29].

This company is expected to post quarterly earnings of $2.26 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $337.2 million, up 15.8% from the year-ago quarter. Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements. For Piper Sandler Companies, the consensus EP ...

Image Source: Zacks Investment Research The Zacks Consensus Estimate for earnings indicates 27.4% growth on a year-over-year basis in 2024. Other Stocks to Consider Over the past year, shares of Piper Sandler have surged 51.8%, outperforming the industry's rally of 30.4%. Earnings Growth: Piper Sandler witnessed earnings growth of 9.20% over the past three to five years, significantly outperforming the industry average of 4.74%. This was driven by strong operating discipline and revenue growth. Further, a s ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-31720 PIPER SANDLER COMPANIES (Exact Name of Registrant as specified in its Charter) Delaware 30-0168701 (State or Other Jurisd ...

MINNEAPOLIS, April 30, 2024 /PRNewswire/ -- Integrity Orthopaedics, Inc., a company pioneering next generation solutions for soft tissue repair, has successfully closed on a Series B financing of $20.6 million. The financing was co-led by Piper Sandler Merchant Banking and an undisclosed existing investor. The company intends to use the capital to expand the US commercial launch of its initial product in the rotator cuff repair market. This milestone advances the company's vision of revolutionizing soft tis ...

Financial Data and Key Metrics Changes - The company generated adjusted net revenues of $334 million for Q1 2024, representing a 15% increase compared to the same quarter last year [22] - The operating margin was reported at 16.8%, with adjusted EPS of $2.79 [5][25] - Net income for the first quarter was $50 million, with a diluted EPS of $2.79 [26] Business Line Data and Key Metrics Changes - Corporate investment banking revenues reached $210 million, a 25% increase year-over-year, driven by higher revenues from advisory and corporate financing [6] - Advisory services revenues were $157 million, with a notable increase attributed to higher average fees and a record performance from the energy and power team [7][8] - Corporate financing revenues were $53 million, nearly double the prior year, supported by increased demand and higher average fees [10] - Public finance revenues increased by 23% year-over-year to $21 million, driven by specialty sector transactions [15] - Equity brokerage revenues decreased by 8% to $49 million due to muted market volatility [17] - Fixed income revenues remained consistent at $42 million compared to the previous year [19] Market Data and Key Metrics Changes - The economic fee pool for equity underwriting was approximately $2 billion, nearly double the average of the last eight quarters [9] - The sub $5 billion market cap fee pool also saw significant increases, particularly in the healthcare sector [10] Company Strategy and Development Direction - The company aims to grow corporate investment banking revenues by enhancing corporate development, scaling industry teams, and increasing market share in technology [13] - The recruiting pipeline is robust, with plans to add five to seven managing directors annually, focusing on strengthening sector coverage and expanding product offerings [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the improvement in certain businesses, particularly equity capital markets, despite ongoing market headwinds [5] - The outlook for M&A is improving as CEO confidence strengthens, with expectations for advisory revenues to remain consistent in Q2 before improving in the latter half of 2024 [8] - The company remains cautious about the depository environment, which is expected to stay challenging [48] Other Important Information - The company returned an aggregate of $88 million to shareholders through buybacks and dividends in Q1 2024 [27] - The compensation ratio for Q1 2024 was 63.1%, lower than the previous year, with expectations to maintain this level throughout the year [23][24] Q&A Session Summary Question: Advisory outlook and private equity client activity - Management noted that private equity contributions to M&A have improved compared to the previous year, but the recovery is expected to be slow [37][38] Question: Recruiting landscape and M&A opportunities - The company is optimistic about recruiting in 2024, with a solid pipeline for adding managing directors [40][41] Question: Compensation ratio and recovery scenarios - Management indicated that a normalized compensation ratio is expected to be around 61.5% to 62% in a good environment, but caution is being exercised this year [42][44] Question: Update on bank clients and regulatory impacts - The depository environment remains difficult, with some opportunities for smaller deals but challenges for larger transactions [48] Question: ECM and biotech market sustainability - Management believes the ECM market is showing signs of improvement, with a good backlog, but visibility remains limited [50][51] Question: Advisory business performance and outlook - The energy advisory business is performing well, with a balanced contribution from healthcare and financials, but overall advisory levels remain relatively depressed [56][58] Question: Non-compensation costs outlook - The company reiterated guidance for non-compensation costs at $62 million per quarter, maintaining discipline in expense management [60]

Piper Sandler Companies (PIPR) came out with quarterly earnings of $2.79 per share, beating the Zacks Consensus Estimate of $1.89 per share. This compares to earnings of $2.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 47.62%. A quarter ago, it was expected that this company would post earnings of $2.53 per share when it actually produced earnings of $4.03, delivering a surprise of 59.29%.Over the last four quarters, the ...

Piper Sandler Companies Reports First Quarter 2024 Results; Declares Quarterly Dividend of $0.60 Per Share MINNEAPOLIS—April 26, 2024—Piper Sandler Companies (NYSE: PIPR), a leading investment bank, today announced its results for the first quarter of 2024. "Net revenues of over $330 million for the first quarter of 2024 represent a solid start to the year. While market headwinds persist, we are encouraged by the improvement in advisory and equity capital markets," said Chad Abraham, chairman and chief exec ...

Have you been paying attention to shares of Piper Sandler Companies (PIPR) ? Shares have been on the move with the stock up 5.4% over the past month. The stock hit a new 52-week high of $200 in the previous session. Piper Sandler Companies has gained 13.5% since the start of the year compared to the 8.3% move for the Zacks Finance sector and the 9.9% return for the Zacks Financial - Investment Bank industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it ...

NEW YORK--(BUSINESS WIRE)--Piper Sandler Companies (NYSE: PIPR), a leading investment bank, is pleased to announce the addition of Biren Amin as a managing director and senior research analyst to the healthcare equity research team. Amin’s coverage will focus on biotechnology companies. “We are excited to welcome Biren to the equity research team. His well-respected and recognized biotechnology research experience, along with public and private company CFO experience, will expand and strengthen our industr ...