For the Quarterly Period Ended September 30, 2023 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 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) (State or Other Jurisdiction of Incorp ...

Piper Sandler Companies (NYSE:PIPR) Q3 2023 Earnings Call Transcript October 27, 2023 9:00 AM ET Company Participants Chad Abraham - Chairman, CEO Deb Schoneman - President Tim Carter - CFO Conference Call Participants Brendan O'Brien - Wolfe Research Devin Ryan - JMP Securities James Yaro - Goldman Sachs Mike Grondahl - Northland Securities Operator Good morning, and welcome to the Piper Sandler Companies conference call to discuss the financial results for the third quarter of 2023. During the question-an ...

☐ 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 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 June 30, 2023 OR (Exact Name of Registrant as specified in its Charter) (State or Other Jurisdiction of Incorporati ...

Piper Sandler Companies (NYSE:PIPR) Q2 2023 Earnings Call Transcript July 28, 2023 9:00 AM ET Company Participants Chad Abraham - Chairman and Chief Executive Officer Deb Schoneman - President Tim Carter - Chief Financial Officer Conference Call Participants Devin Ryan - JMP Securities James Yaro - Goldman Sachs Brendan O'Brien - Wolfe Research Mike Grondahl - Northland Securities Operator Good morning, and welcome to the Piper Sandler Companies' Conference Call to discuss the Financial Results for the Seco ...

(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, 2023 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ 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) (State or Other Jurisdiction of Incorporat ...

Piper Sandler Companies (NYSE:PIPR) Q1 2023 Earnings Conference Call May 2, 2023 9:00 AM ET Company Participants Chad Abraham - Chairman and Chief Executive Officer Deb Schoneman - President Tim Carter - Chief Financial Officer Conference Call Participants Devin Ryan - JMP Securities James Yaro - Goldman Sachs Brendan O'Brien - Wolfe Research Mike Grondahl - Northland Securities Operator Good morning, and welcome to the Piper Sandler Companies' conference call to discuss the financial results for the first ...

Cautionary notice regarding forward-looking statements These reports are available at our Website at www.pipersandler.com and at the SEC Website at www.sec.gov. Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in Europe through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Author ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 Commission File No. 001-31720 PIPER SANDLER COMPANIES (Exact Name of Registrant as specified in its Charter) Delaware 30-0168701 (State or Other Jurisdiction of Incorporation or Organization) (IRS Employer Identification No.) 800 Nicollet Mall, Suite 900 Minneapolis, Minnesota 55402 (Address of Pri ...

Financial Data and Key Metrics Changes - In Q4 2022, the company generated adjusted net revenues of $391 million, with an operating margin of 19.3% and adjusted EPS of $3.33, marking a strong finish to the year [3][16] - For the full year 2022, adjusted net revenues totaled $1.4 billion, an 18.8% operating margin, and adjusted EPS of $11.26, representing the second strongest year on record [3][16] - Net revenues for Q4 2022 decreased 38% from the record fourth quarter of 2021, while full year revenues declined 28% from the exceptional prior year [16] Business Line Data and Key Metrics Changes - Corporate investment banking revenues for Q4 2022 were $258 million, up 20% sequentially, but full year revenues of $902 million declined 35% from 2021 [4][16] - Advisory services generated $221 million in Q4, up 26% sequentially, with full year advisory revenues of $776 million, the second strongest year in history [6][16] - Equity brokerage revenues reached $56 million in Q4, up 7% sequentially, and full year revenues totaled $210 million, exceeding the $200 million target set at the beginning of the year [13][16] - Fixed income revenues for Q4 were $50 million, up 34% sequentially, while full year revenues were $195 million, down 17% from the previous year [14][16] Market Data and Key Metrics Changes - The equity market fee pool for 2022 was the lowest in over 20 years, declining more than 60% from the average of the last 10 years [7] - Municipal financing revenues for Q4 were $19 million, down 30% sequentially, with full year revenues of $108 million, a 34% decline from the previous year [12][16] - The overall market issuance for 2022 declined approximately 20% from the prior year, with high yield new issuance decreasing about 40% [12] Company Strategy and Development Direction - The company aims to grow annual corporate investment banking revenues to over $2 billion in the coming years by scaling industry groups and increasing transaction sizes [10] - The acquisition of DBO Partners has doubled the technology banking platform, positioning the company for growth in this sector [3] - The company is focused on filling white spaces within investment banking and has added talent to strengthen its industry coverage [8] Management's Comments on Operating Environment and Future Outlook - Management expects a slow start to 2023 for the advisory business due to current economic conditions, but anticipates a potential pickup in the second half of the year [6][30] - The company remains cautious about hiring, focusing on senior hires that drive revenue while being selective with junior hiring [34] - The outlook for fixed income is positive, with expectations for increased client activity as higher nominal rates present attractive investment opportunities [14][40] Other Important Information - The company repurchased approximately 1.4 million shares for $187 million in 2022, returning a total of $295 million to shareholders through share buybacks and dividends [19] - A special cash dividend of $1.25 per share was approved, alongside a quarterly cash dividend of $0.60 per share [19] Q&A Session Summary Question: Advisory outlook and pipeline progression - Management noted a strong backlog but expects a slower start to the year, with many mandates ready but slow to launch due to market conditions [30] Question: Municipal finance normalization - Management indicated that normalization depends on market conditions, particularly the amount of refunding and inflows into high yield funds [31][32] Question: Appetite for acquisitions in 2023 - The company expressed a good appetite for continued tuck-in acquisitions, although it will be cautious in evaluating opportunities in the current market [56] Question: Corporate financing and healthcare ECM outlook - Management reported a slight improvement in ECM activity, particularly in healthcare, but noted that it is not yet at normalized levels [38] Question: Fixed income business outlook - Management expects fixed income activity to remain strong, driven by banks repositioning their balance sheets, but clarity on interest rates is needed for sustained demand [40] Question: Non-compensation expense trajectory - Management indicated that non-compensation expenses are expected to remain consistent with Q4 levels going forward [44]

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 September 30, 2022 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) (State or Other Jurisdiction of Incorp ...