Piper Sandler Companies · NYSE:PIPR

Piper Sandler Companies — Q1 2026 Earnings Presentation

14 slides from Piper Sandler Companies's earnings presentation, May 1, 2026

  1. Slide 1: Piper Sandler Companies Reports First Quarter 2026 Results; Increases Quarterly Dividend

    Piper Sandler Companies Reports First Quarter 2026 Results; Increases Quarterly Dividend to $0.20 Per Share MINNEAPOLIS—May 1, 2026—Piper Sandler Companies (NYSE: PIPR), a leading investment bank, today announced its results for the first quarter of 2026. "We started 2026 strong, delivering record f

  2. Slide 2: U.S. GAAP Selected Financial Data

    U.S. GAAP Selected Financial Data The following summarizes our results on a U.S. GAAP basis. Three Months Ended Mar. 31, Dec. 31, Mar. 31, Change vs. (Dollars in thousands, except per share data) 2026 2025 2025 Q4-25 Q1-25 Revenues Investment banking: Advisory services $ 250,962 $ 401,569 $ 216,800

  3. Slide 3: Additional business metrics and net revenues

    The following table summarizes additional business metrics for the periods presented. Three Months Ended Mar. 31, Dec. 31, Mar. 31, Change vs. 2026 2025 2025 Q4-25 Q1-25 Advisory services Completed M&A and restructuring transactions 69 99 42 -30% 64% Completed capital advisory transactions (1) 25 28

  4. Slide 4: Fixed income services, investment income and non-interest expenses

    • Fixed income services revenues of $50.4 million for the first quarter of 2026 were essentially flat compared to the fourth quarter of 2025 and increased 6% compared to the first quarter of 2025. Revenues for the current quarter benefited from several balance sheet restructuring trades, which offse

  5. Slide 5: Non-GAAP Selected Financial Data

    Non-GAAP Selected Financial Data The following summarizes our results on an adjusted, non-GAAP basis. Three Months Ended Mar. 31, Dec. 31, Mar. 31, Change vs. (Dollars in thousands, except per share data) 2026 2025 2025 Q4-25 Q1-25 Adjusted revenues Investment banking: Advisory services $ 250,962 $

  6. Slide 6: Adjusted net revenues and operating expenses

    See page 3 for a summary of additional business metrics. ADJUSTED NET REVENUES For the first quarter of 2026, adjusted net revenues of $469.5 million decreased 26% compared to the seasonally strong fourth quarter of 2025. Adjusted net revenues increased 22% compared to the first quarter of 2025 driv

  7. Slide 7: Capital

    Capital STOCK SPLIT On March 23, 2026, we effected a four-for-one forward split of the company's common stock through the filing of an amendment to our Certificate of Incorporation, which was accompanied by a proportionate increase in the number of shares of our authorized common stock. Our common s

  8. Slide 8: Management Conference Call; About Piper Sandler

    Management Conference Call Chad Abraham, chairman and chief executive officer; Deb Schoneman, president; and Kate Clune, chief financial officer, will host a conference call to discuss the financial results on Friday, May 1, 2026, at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). Participants can

  9. Slide 9: Cautionary Note Regarding Forward-Looking Statements

    Cautionary Note Regarding Forward-Looking Statements This press release and the conference call to discuss the contents of this press release contain forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-look

  10. Slide 10: Results of Operations (U.S. GAAP – Unaudited)

    Piper Sandler Companies Results of Operations (U.S. GAAP – Unaudited) Three Months Ended Mar. 31, Dec. 31, Mar. 31, (Amounts in thousands, except per share data) 2026 2025 2025 Revenues Investment banking $ 348,190 $ 506,438 $ 276,264 Institutional brokerage 110,845 113,901 101,924 Interest income 1

  11. Slide 11: Preliminary Selected Summary Financial Information (Non-GAAP – Unaudited)

    Piper Sandler Companies Preliminary Selected Summary Financial Information (Non-GAAP – Unaudited) (1) Three Months Ended Mar. 31, Dec. 31, Mar. 31, (Amounts in thousands, except per share data) 2026 2025 2025 Adjusted revenues Investment banking $ 348,190 $ 506,438 $ 276,264 Institutional brokerage

  12. Slide 12: Reconciliation of U.S. GAAP to Selected Summary Financial Information

    Piper Sandler Companies Reconciliation of U.S. GAAP to Selected Summary Financial Information (1) (Unaudited) Three Months Ended Mar. 31, Dec. 31, Mar. 31, (Amounts in thousands, except per share data) 2026 2025 2025 Net revenues: Net revenues – U.S. GAAP basis $ 474,409 $ 666,050 $ 357,272 Adjustme

  13. Slide 13: Reconciliation of U.S. GAAP to Selected Summary Financial Information

    Piper Sandler Companies Reconciliation of U.S. GAAP to Selected Summary Financial Information (1) (Unaudited) Three Months Ended Mar. 31, Dec. 31, Mar. 31, (Amounts in thousands, except per share data) 2026 2025 2025 Net income attributable to Piper Sandler Companies: Net income attributable to Pipe

  14. Slide 14: Notes to Non-GAAP Financial Schedules

    Piper Sandler Companies Notes to Non-GAAP Financial Schedules (1) Selected Summary Financial Information are non-GAAP measures. Management believes that presenting results and measures on an adjusted basis in conjunction with U.S. GAAP measures provides the most meaningful basis for comparison of it

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