The earnings call highlighted strong performance in advisory revenues, municipal financing, and brokerage activities, with strategic hiring and acquisitions positioning the company for further growth. However, challenges were noted in corporate financing and non-depository client activity, alongside increased expenses.

Company Guidance -

Q3 2025

During Piper Sandler's Second Quarter 2025 earnings call, the company reported adjusted net revenues of $405 million, marking an increase compared to the previous year, with an 18.1% operating margin and an adjusted EPS of $2.95. Advisory revenues reached $206 million, up 12% year-over-year, with notable performance from the Services and Industrials group. The company completed 71 transactions, and advisory revenues for the first half of 2025 were $423 million, reflecting a 24% increase. Corporate financing revenues were $35 million, down 31% from the previous year, with $10 billion raised through 26 financings. Public finance revenues grew to $42 million, up 66% year-over-year, while equity brokerage revenues increased by 12% to $58 million. Fixed income revenues were $54 million, showing a 37% year-over-year growth. The company ended the quarter with 182 managing directors, reflecting a 7% increase from the previous year, and highlighted strategic hires to strengthen sector and product expertise. They also announced a $0.05 increase to their quarterly cash dividend, now at $0.70 per share.

Strong Advisory Revenue Growth

Advisory revenues reached $206 million, up 12% year-over-year, with the Services and Industrials group having one of their best quarters since 2021.

Record Municipal Financing Revenues

Municipal financing revenues increased by 66% year-over-year, driven by strong client and geographic reach.

Increased Brokerage Revenues

Equity brokerage generated $58 million, a 12% increase year-over-year, with strong activity on the derivatives desk.

Improved Operating Margin

The company achieved an 18.1% operating margin for the second quarter of 2025, with net revenues of $405 million.

Growth in Managing Directors

The company ended the quarter with 182 managing directors, up 7% from a year ago, reflecting strategic hires in key sectors.

Acquisition to Enhance Technology Investment Banking

Announced acquisition of G Squared Capital Partners, specializing in government services and defense technology, to bolster technology investment banking.

Dividend Increase

The Board approved a $0.05 increase to the quarterly cash dividend, bringing it to $0.70 per share.

Piper Sandler (PIPR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

PIPR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 24, 2025	2025 (Q3)	2.99 / -	2.57	―	―	―
Aug 01, 2025	2025 (Q2)	2.25 / 2.95	2.52	17.06% (+0.43)	―
May 02, 2025	2025 (Q1)	2.65 / 4.09	2.79	46.59% (+1.30)	―
Jan 31, 2025	2024 (Q4)	3.94 / 4.80	4.03	19.11% (+0.77)	―
Oct 25, 2024	2024 (Q3)	2.67 / 2.57	1.76	46.02% (+0.81)	―
Aug 02, 2024	2024 (Q2)	2.27 / 2.52	1.13	123.01% (+1.39)	―
Apr 26, 2024	2024 (Q1)	2.12 / 2.79	2.35	18.72% (+0.44)	―
Feb 02, 2024	2023 (Q4)	2.61 / 4.03	3.33	21.02% (+0.70)	―
Oct 27, 2023	2023 (Q3)	1.59 / 1.76	2.32	-24.14% (-0.56)	―
Jul 28, 2023	2023 (Q2)	1.18 / 1.13	2.47	-54.25% (-1.34)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PIPR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 01, 2025	$315.32	$311.59	-1.18%
May 02, 2025	$242.19	$251.22	+3.73%
Jan 31, 2025	$305.23	$312.25	+2.30%
Oct 25, 2024	$284.47	$275.67	-3.09%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Piper Sandler (PIPR) report earnings?

Piper Sandler (PIPR) is schdueled to report earning on Oct 24, 2025, Before Open (Confirmed).

What is Piper Sandler (PIPR) earnings time?

Piper Sandler (PIPR) earnings time is at Oct 24, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is PIPR EPS forecast?

PIPR EPS forecast for the fiscal quarter 2025 (Q3) is 2.99.

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