Oppenheimer Holdings reports Q1 adjusted EPS $4.46 vs. $2.74 last year

Reports Q1 revenue $445.1M vs. $367.8M last year. CEO Robert Lowenthal commented, “Notwithstanding the unfavorable impact of the “cash sweep” settlement on the company’s overall results for Q1, the Firm’s core businesses delivered solid operating results. Despite an increasingly challenging geopolitical environment, the strength of our franchise proved its ability to support clients across all business environments. The ongoing conflict with Iran disrupted global energy flows and intensified inflationary pressure on oil and gas prices, which in turn weighed negatively on the financial markets during March. As a result of the conflict, equity markets exhibited significant volatility with indices now hovering at or near their all-time highs…Although AUM eased from last quarter’s all-time highs, they remained meaningfully above prior year levels, supporting continued strength in our asset-based advisory fees…Our capital position remains robust, enabling us to return additional value to stockholders as highlighted by our announced 11.1% increase in the quarterly dividend to $0.20 per share. Looking ahead, we remain focused on supporting our clients across the enterprise as they continue to navigate uncertain markets.”