PIPER SANDLER COMPANIES
For the period ended Jun 30, 2024. Filed Aug 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 6, 2024
PIPR$67.64+2.6%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
| Three Months Ended · Six Months Ended | ||||
|---|---|---|---|---|
| June 30, | June 30, | |||
| (Amounts in thousands, except per share data) | 2024 | 2023 | 2024 | 2023 |
| Revenues | ||||
| Investment banking | $259,782 | $183,967 | $490,305 | $368,371 |
| Institutional brokerage | 91,737 | 87,838 | 183,179 | 184,151 |
| Interest income | 6,676 | 3,729 | 14,982 | 12,441 |
| Investment income/(loss) | (17,351) | 15,797 | (3,183) | 26,912 |
| Total revenues | 340,844 | 291,331 | 685,283 | 591,875 |
| Interest expense | 1,665 | 2,605 | 3,048 | 5,244 |
| Net revenues | 339,179 | 288,726 | 682,235 | 586,631 |
| Non-interest expenses | ||||
| Compensation and benefits | 234,709 | 189,204 | 457,155 | 388,598 |
| Outside services | 13,974 | 13,456 | 26,396 | 25,582 |
| Occupancy and equipment | 16,757 | 16,020 | 32,793 | 31,748 |
| Communications | 14,568 | 13,047 | 27,797 | 27,358 |
| Marketing and business development | 11,372 | 10,930 | 22,135 | 20,982 |
| Deal-related expenses | 5,943 | 7,505 | 12,330 | 13,519 |
| Trade execution and clearance | 4,515 | 4,854 | 9,381 | 9,768 |
| Restructuring and integration costs | 977 | 3,903 | 977 | 3,903 |
| Intangible asset amortization | 2,361 | 4,904 | 4,722 | 9,808 |
| Other operating expenses | 5,757 | 10,522 | 7,881 | 15,175 |
| Total non-interest expenses | 310,933 | 274,345 | 601,567 | 546,441 |
| Income before income tax expense/(benefit) | 28,246 | 14,381 | 80,668 | 40,190 |
| Income tax expense/(benefit) | 13,276 | (250) | 16,120 | (7,887) |
| Net income | 14,970 | 14,631 | 64,548 | 48,077 |
| Net income/(loss) attributable to noncontrolling interests | (19,803) | 10,677 | (12,718) | 18,489 |
| Net income attributable to Piper Sandler Companies | $34,773 | $3,954 | $77,266 | $29,588 |
| Earnings per common share | ||||
| Basic | $2.19 | $0.26 | $4.92 | $2.00 |
| Diluted | $1.97 | $0.23 | $4.40 | $1.73 |
| Dividends declared per common share | $0.60 | $0.60 | $2.20 | $2.45 |
| Weighted average number of common shares outstanding | ||||
| Basic | 15,879 | 15,066 | 15,689 | 14,788 |
| Diluted | 17,633 | 17,084 | 17,569 | 17,134 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.