Piper Sandler Companies (PIPR) Earnings Call Transcripts

Piper Sandler Companies's Latest Earnings Call - Q1 FY2026

Piper Sandler Companies reported strong Q1 2026 results with net revenues of $470 million, marking a 22% increase year-over-year. Adjusted EPS was $1, supported by a 20% operating margin. Corporate Investment Banking led the growth with a 30% increase in revenues. Management expects Q2 advisory revenues to be similar to Q1, while corporate financing revenues are anticipated to decline. The company announced a 14% increase in its quarterly dividend to $0.20 per share.

Reported metrics

Guidance from management

Management expects Q2 advisory revenues to be similar to Q1, while corporate financing revenues are anticipated to decline from the strong Q1 levels.

What management said

Okay. Well, why don't I take the first question, James, and I'll let Deb take the second one. But on Bank M&A, we had a good Q1 with a significant amount of closings. I would say on the announced Bank M&A, I do think it's a little slower than we anticipated. We announced a couple more transactions this week. So I would say we're seeing decent volume on some of the smaller transactions, just haven't seen the pace we w...

Yes. And then on your question relative to hedging activity with banks, our derivative desk has been incredibly busy relative to conversations. We've seen some increased actual activity of transactions being completed. But I think one of the things that you see is when there's volatility while you might naturally think, boy, there should be a lot of hedging, it also makes it challenging to determine how they want to ...

What analysts pressed on

Analysts expressed concerns about the sustainability of equity capital markets activity, particularly in healthcare, and the impact of macroeconomic uncertainty on advisory pipelines. Questions also focused on the volatility affecting fixed income and the potential slowdown in bank M&A.

Main topics on the call

• Corporate Investment Banking Growth — Corporate Investment Banking achieved a record $324 million in revenues, up 30% year-over-year, driven by robust corporate financing and advisory services. Management highlighted, 'Our Health Care franchise produced an e...
• Advisory Services Performance — Advisory revenues reached a record $251 million, up 16% year-over-year. The company ranked as the #2 adviser in U.S. M&A for deals under $2 billion. Management noted, 'Our Debt Capital Markets Advisory business recorded ...
• Equity Underwriting and Financing — Corporate Financing revenues were $73 million, up 122% year-over-year, driven by healthcare sector activity. Management stated, 'We completed 36 equity, debt, and preferred financings raising $14 billion.'
• Public Finance and Brokerage — Public finance revenues were $24 million, down 9% year-over-year, while Equity Brokerage revenues hit a record $60 million, up 11%. Management expects public finance revenues to improve modestly in Q2.

Read the full Piper Sandler Companies transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 28 Piper Sandler Companies earnings call transcripts on record, spanning January 31, 2020 to July 30, 2026. Based on this history, Piper Sandler Companies reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

PIPR

Exchange

NYSE

Country

US

Sector

Financials

Industry

Capital Markets

Calls on record

28

First call

January 31, 2020

Most recent

July 30, 2026

Reporting cadence

quarterly