PIPER SANDLER COMPANIES
For the period ended Mar 31, 2026. Filed May 7, 2026.
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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.
Mar 31, 2026 · Filed May 7, 2026
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Pre-Tax Margin
Pre-tax margin for the three months ended March 31, 2026 increased to 18.5 percent, compared to 8.2 percent for the corresponding period of 2025. Adjusted pre-tax margin for the three months ended March 31, 2026 increased to 20.0 percent, compared with 17.9 percent for the corresponding period of 2025. In the current quarter, the increase in pre-tax margin on both a U.S. GAAP and adjusted basis was primarily due to higher net revenues. Additionally, U.S. GAAP pre-tax margin increased due to lower compensation and non-compensation ratios.
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