The earnings call reflected a positive performance with strong growth in advisory and municipal financing revenues, bolstered by strategic acquisitions and increased dividends. However, challenges in corporate financing and biopharma sectors, along with restructuring costs, highlighted some areas of concern.

Company Guidance -

Q3 2025

In the second quarter of 2025, Piper Sandler reported adjusted net revenues of $405 million, reflecting a 14% increase year-over-year. The company achieved an 18.1% operating margin and an adjusted EPS of $2.95. Advisory revenues were robust at $206 million, a 12% increase from the previous year, with 71 completed transactions. The Services and Industrials group notably had one of their best quarters since 2021. Corporate financing revenues, however, declined 31% year-over-year to $35 million, despite completing 26 financings that raised $10 billion. The public finance segment saw a significant 66% increase in municipal financing revenues, reaching $42 million. Equity brokerage revenues grew by 12% year-over-year to $58 million, and fixed income revenues increased by 37% to $54 million. The company maintained a compensation ratio of 62% for the second quarter and repurchased approximately 85,000 shares, returning $21 million to shareholders. Additionally, Piper Sandler announced a $0.05 increase in their quarterly cash dividend, now set at $0.70 per share.

Strong Advisory Revenue Growth

Advisory revenues reached $206 million for the quarter, up 12% year-over-year, driven by a broad set of products and higher average fees. The first half of 2025 saw advisory revenues at $423 million, up 24% compared to the previous year.

Municipal Financing Surge

Municipal financing revenues were $42 million in Q2 2025, up 66% year-over-year, surpassing a 15% market issuance growth in par value.

Record Equity Brokerage Performance

Equity brokerage generated $58 million in revenues for Q2 2025, a 12% increase year-over-year, with 2.9 billion shares traded.

Acquisition of G Squared Capital Partners

Entered into a definitive agreement to acquire G Squared Capital Partners, enhancing technology investment banking with deep government sector experience.

Dividend Increase

Board approved a $0.05 increase to quarterly cash dividend 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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