OPPENHEIMER HOLDINGS INC
For the period ended Jan 31, 2025. Filed Jan 31, 2025.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Jan 31, 2025 · Filed Jan 31, 2025
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Contents
EX-99.1 · Forward-Looking Statements
Forward-Looking Statements
This press release includes certain "forward-looking statements" relating to anticipated future performance. For a discussion of the factors that could cause future performance to be different than anticipated, reference is made to Factors Affecting "Forward-Looking Statements" and Part 1A – Risk Factors in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and Factors Affecting "Forward-Looking Statements" in Part I, Item 2 in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024.
| Oppenheimer Holdings Inc. | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Consolidated Income Statements (Unaudited) | ||||||||||||
| ('000s, except number of shares and per share amounts) | ||||||||||||
| For the Three Months EndedDecember 31, · For the Year EndedDecember 31, | ||||||||||||
| 2024 · 2023 · % Change · 2024 · 2023 · % Change | ||||||||||||
| REVENUE | ||||||||||||
| Commissions | $113,726 | $90,074 | 26.3 | $409,710 | $349,248 | 17.3 | ||||||
| Advisory fees | 129,758 | 105,465 | 23.0 | 483,433 | 415,679 | 16.3 | ||||||
| Investment banking | 44,606 | 22,311 | 99.9 | 176,447 | 117,665 | 50.0 | ||||||
| Bank deposit sweep income | 32,364 | 37,534 | (13.8) | 138,770 | 172,807 | (19.7) | ||||||
| Interest | 35,932 | 25,859 | 39.0 | 135,537 | 104,550 | 29.6 | ||||||
| Principal transactions, net | 12,012 | 18,712 | (35.8) | 54,684 | 65,347 | (16.3) | ||||||
| Other | 7,019 | 8,334 | (15.8) | 33,915 | 23,529 | 44.1 | ||||||
| Total revenue | 375,417 | 308,289 | 21.8 | 1,432,496 | 1,248,825 | 14.7 | ||||||
| EXPENSES | ||||||||||||
| Compensation and related expenses | 256,439 | 193,196 | 32.7 | 936,814 | 782,396 | 19.7 | ||||||
| Communications and technology | 25,501 | 23,508 | 8.5 | 99,361 | 91,321 | 8.8 | ||||||
| Occupancy and equipment costs | 16,248 | 16,380 | (0.8) | 63,852 | 66,002 | (3.3) | ||||||
| Clearing and exchange fees | 7,894 | 6,687 | 18.0 | 27,641 | 24,928 | 10.9 | ||||||
| Interest | 21,360 | 18,246 | 17.1 | 87,991 | 68,599 | 28.3 | ||||||
| Other | 30,908 | 32,440 | (4.7) | 111,080 | 168,809 | (34.2) | ||||||
| Total expenses | 358,350 | 290,457 | 23.4 | 1,326,739 | 1,202,055 | 10.4 | ||||||
| Pre-tax Income | 17,067 | 17,832 | (4.3) | 105,757 | 46,770 | 126.1 | ||||||
| Income tax provision | 6,338 | 6,236 | 1.6 | 34,510 | 16,498 | 109.2 | ||||||
| Net Income | $10,729 | $11,596 | (7.5) | $71,247 | $30,272 | 135.4 | ||||||
| Less: Net income (loss) attributable tonon-controlling interest, net of tax | — | 496 | * | (310) | 93 | * | ||||||
| Net income attributable toOppenheimer Holdings Inc. | $10,729 | $11,100 | (3.3) | $71,557 | $30,179 | 137.1 | ||||||
| Earnings per share attributable to Oppenheimer Holdings Inc. | ||||||||||||
| Basic | $1.04 | $1.07 | (2.8) | $6.91 | $2.81 | 145.9 | ||||||
| Diluted | $0.92 | $0.98 | (6.1) | $6.37 | $2.59 | 145.9 | ||||||
| Weighted average number of common shares outstanding | ||||||||||||
| Basic | 10,331,401 | 10,326,996 | — | 10,349,803 | 10,736,166 | (3.6) | ||||||
| Diluted | 11,389,040 | 11,305,198 | 0.7 | 11,230,007 | 11,645,708 | (3.6) | ||||||
| Period end number of common shares outstanding | 10,331,401 | 10,286,448 | 0.4 | 10,331,401 | 10,286,448 | 0.4 | ||||||
| * Percentage not meaningful | ||||||||||||
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