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, 2021 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 No. 001-31720 PIPER SANDLER COMPANIES (Exact Name of Registrant as specified in its Charter) (State or Other Jurisdiction of Incorporation o ...

Financial Data and Key Metrics Changes - The company reported adjusted net revenues of $493 million for Q2 2021, representing a 19% increase sequentially and a 68% increase year-over-year [39][6] - Adjusted EPS for Q2 2021 was $5.37, marking a 29% increase from the previous peak [46] - For the first half of 2021, adjusted net revenues totaled $906 million, a 69% increase compared to the prior year [40] Business Line Data and Key Metrics Changes - Corporate Investment Banking revenues reached $351 million in Q2 2021, up 31% from the previous peak in Q1 2021 [8] - Advisory Services generated record revenues of $249 million during Q2 2021, up 63% sequentially and 191% year-over-year [13] - Equity brokerage revenues were $35 million, down 19% sequentially and 14% year-over-year due to reduced market volatility [25] - Municipal financing revenues were $36 million, up 33% from Q1 2021 and 17% year-over-year [28] - Fixed income revenues were $61 million, down 8% sequentially but up 25% year-over-year [32] Market Data and Key Metrics Changes - The company raised $24 billion in new capital for clients through 67 equity, debt, and preferred financings in Q2 2021 [18] - The health care team led the quarter in financing, completing 22 of the 24 deals [19] - The municipal market issuance remained strong, driven by new money issuance and refinancing activity [28] Company Strategy and Development Direction - The company aims to continue expanding sector coverage and developing new product capabilities while increasing market share [22][23] - There is a focus on strengthening non-depository sectors and enhancing advisory activity, particularly with private equity clients [10] - The company is committed to returning capital to shareholders, with a quarterly dividend increase of 22% [50][49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong pipeline of deals, indicating a favorable outlook for the second half of 2021 [7] - The company noted that the M&A market is experiencing strong secular growth, driven by private equity activity and favorable financing conditions [17] - Management acknowledged potential scrutiny on M&A transactions from the Biden administration but indicated that it has not slowed activity [91][92] Other Important Information - The compensation ratio for Q2 2021 was 60.7%, down from 61.5% in Q1 2021, reflecting strong performance [41] - The company completed 58 M&A and restructuring transactions during Q2 2021 [14] - The company has been actively recruiting, finishing Q2 2021 with 145 managing directors in investment banking and capital markets [21] Q&A Session Summary Question: Outlook on M&A Advisory business - Management noted strong activity in Advisory and a robust pipeline, with broad-based participation across industry groups [57][58] Question: Fixed income brokerage opportunities - Management discussed the expansion of product expertise and indicated no significant increase in capital needs for growth [62][64] Question: Compensation ratio guidance - Management confirmed a compensation ratio near 61% with potential for leverage depending on revenue growth [66][68] Question: M&A cycle position and competition - Management believes the M&A market is in a secular growth phase, with financial sponsors being very active [74][75] Question: Dividend payout expectations - Management reiterated a dividend payout ratio of 30% to 50%, likely moving towards the higher end due to strong earnings [95][96]

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, 2021 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 No. 001-31720 PIPER SANDLER COMPANIES (Exact Name of Registrant as specified in its Charter) Delaware 30-0168701 (State or Other Jurisdicti ...

Piper Sandler Companies (NYSE:PIPR) Q1 2021 Earnings Conference Call April 30, 2021 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 Mike Grondahl – Northland Securities Michael Brown – KBW Operator Good morning, and welcome to the Piper Sandler Companies Conference Call to discuss the financial results for the first quarter of 2021. During the question-a ...

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, 2020 Commission File No. 001-31720 PIPER SANDLER COMPANIES (Exact Name of Registrant as specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization) (IRS Employer Identification No.) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Registrant's Telephone Number, Including Area Code) Securities registered pursuant to Sectio ...

Financial Data and Key Metrics Changes - In Q4 2020, the company generated $400 million in adjusted net revenues and $4.17 in adjusted EPS, both quarterly records [14] - For the full year 2020, adjusted net revenues reached $1.2 billion, with an operating margin of 20.3% and adjusted EPS of $10.02, all records [14][58] - The company reported net income of $75 million for Q4 2020, a 67.2% increase year-over-year, and net income of $178 million for the full year, reflecting a 36% increase in diluted EPS compared to 2019 [58] Business Line Data and Key Metrics Changes - Corporate investment banking revenues for Q4 2020 were $256 million, up 45% sequentially, and $739 million for the full year, a 35% year-over-year increase [18][19] - Advisory services generated $169 million in revenues during Q4 2020, significantly up from Q3, with full-year revenues of $443 million, consistent with 2019 [20][21] - The equity brokerage business generated $40 million in Q4 2020, an 18% sequential increase, and $161 million for the year, marking an 84% year-over-year increase [33][35] Market Data and Key Metrics Changes - The municipal financing business generated $40 million in revenues for Q4 2020, a 51% increase from Q3 and a 28% increase year-over-year, with full-year revenues of $120 million, up 44% from 2019 [39][40] - The company completed 137 equity financings in 2020, raising $62 billion of capital, with a strong focus on the healthcare sector [25] - The fixed income business produced $53 million in revenues for Q4 2020, flat sequentially, and $196 million for the full year, benefiting from the Sandler acquisition [46] Company Strategy and Development Direction - The company aims to grow annual corporate investment banking revenues to over $1 billion in the coming years, with a focus on expanding its platform and capabilities [30][94] - The integration of Sandler O'Neill and the acquisition of TRS Advisors are expected to enhance the company's advisory and restructuring capabilities [12][28] - The company is focused on maintaining momentum in its equity and debt capital raising activities while investing in its corporate investment banking platform [27][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the advisory business, anticipating significant growth as market conditions improve and M&A activity accelerates [67][69] - The company noted strong demand for M&A driven by factors such as low financing rates and increased CEO confidence, with a robust pipeline across various industry verticals [23][90] - Management expects 2021 to start strong, although capital raising activity may moderate compared to 2020 [27][68] Other Important Information - The company approved a special annual cash dividend of $1.85 per share, resulting in a total dividend of $3.10 per share for fiscal year 2020, a 38% increase year-over-year [61] - The compensation ratio for Q4 2020 was 59.5%, lower than previous quarters, with expectations for a ratio near 62% in 2021 [51][52] - The company highlighted the importance of maintaining a disciplined approach to managing expenses while capitalizing on growth opportunities [54][60] Q&A Session Summary Question: Can M&A advisory acceleration offset potential deceleration in capital raising? - Management acknowledged the strong performance in advisory and expressed optimism for growth, while noting challenges in capital markets [67][69] Question: How much of the fixed income business strength was due to elevated volumes versus market-making positioning? - Management indicated that the strength was primarily driven by high volumes and favorable market conditions rather than positioning [71][73] Question: What is the outlook for excess capital and its deployment? - Management confirmed a healthy excess capital position and emphasized a focus on growth opportunities while considering dividends and share repurchases [78][79] Question: How does the backlog compare to prior periods? - Management stated that the current backlog is stronger than entering 2020, with optimism for healthcare and financial services M&A [88][90] Question: What are the top priorities for 2021? - Management highlighted the focus on growing average deal sizes in M&A and leveraging new capabilities from recent acquisitions [105]

Piper Sandler Companies (NYSE:PIPR) Q3 2020 Earnings Conference Call October 30, 2020 9:00 AM ET Company Participants Chad Abraham - Chairman & Chief Executive Officer Deb Schoneman - President Tim Carter - Chief Financial Officer Conference Call Participants Devin Ryan - JMP Securities Michael Brown - KBW 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 2020. [Operator Instruction ...

Piper Sandler Companies (NYSE:PIPR) Q2 2020 Earnings Conference Call July 31, 2020 9:00 AM ET Company Participants Chad Abraham - Chairman & Chief Executive Officer Deb Schoneman - President Tim Carter - Chief Financial Officer Conference Call Participants Devin Ryan - JMP Michael Brown - KBW Mike Grondahl - Northland Operator Good morning, and welcome to the Piper Sandler Companies Conference Call to discuss the Financial Results for the Second Quarter of 2020. [Operator Instructions] The company has asked ...

Piper Sandler Companies (NYSE:PIPR) Q1 2020 Earnings Conference Call May 1, 2020 9:00 AM ET Company Participants Chad Abraham - President and Chief Executive Officer Deb Schoneman - President Tim Carter - Chief Financial Officer Conference Call Participants Devin Ryan - JMP Securities Mike Grondahl - Northland Securities Michael Brown - KBW Operator Good morning and welcome to the Piper Sandler Companies Conference Call to discuss the financial results for the First Quarter of 2020. [Operator Instructions] ...

Piper Sandler Companies (NYSE:PIPR) Q4 2019 Earnings Conference Call January 31, 2020 9:00 AM ET Company Participants Chad Abraham - Chairman & Chief Executive Officer Deb Schoneman - President Tim Carter - Chief Financial Officer Conference Call Participants Devin Ryan - JMP Securities. Chris Walsh - Wolfe Research Michael Brown - KBW Mike Grondahl - Northland Securities Operator Good morning and welcome to the Piper Sandler Companies Conference Call to discuss the Financial Results for the Fourth Quarter ...