PIPER SANDLER COMPANIES
For the period ended Sep 30, 2026. Filed Nov 5, 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.
Sep 30, 2026 · Filed Nov 5, 2026
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Pre-Tax Margin
Pre-tax margin for the nine months ended September 30, 2026 increased to 18.0 percent, compared to 15.1 percent for the nine months ended September 30, 2025. Adjusted operating margin for the nine months ended September 30, 2026 increased to 20.6 percent, compared with 19.2 percent in the corresponding period of 2025. For the first nine months of 2026, the increase in pre-tax margin on both a U.S. GAAP and adjusted basis was primarily due to improved operating leverage on higher net revenues.
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