NYSE$OPY

Oppenheimer Holdings Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Net income decreased due to lower revenue, primarily impacted by a reduction in incentive fee income from alternative investments.

Oppenheimer Holdings Inc. reported a decrease in net income for the fourth quarter of 2021, with revenue also declining due to lower incentive fee income from alternative investments. However, full year results showed record revenue, pre-tax income, and net income.

  • Revenue decreased by 13.7% compared to Q4 2020, primarily due to a reduction in incentive fee income from alternative investments.
  • Net income decreased to $62.9 million, compared to $81.9 million in Q4 2020.
  • Basic earnings per share decreased to $4.99, compared to $6.56 in Q4 2020.
  • Capital Markets segment achieved record revenue and earnings for the fourth quarter, driven by investment banking results.

Headline financials

Total Revenue

$365M

Previous: $423M-13.7%
EPS (adj)

$4.61

Previous: $6.17-25.3%
AUA

$122.10

Previous: $105B-100.0%
AUM

$46.20

Previous: $38.8B-100.0%
Capital Expenditures

$755K

Previous: $820K-7.9%
Free Cash Flow

$91.8M

Previous: $93.5M-1.8%
Net Income

$62.9M

Previous: $81.9M-23.2%
Operating Income

$92M

Previous: $114M-19.2%
Gross Profit

$166M

Previous: $174M-4.7%
Cash & Equivalents

$214M

Previous: $35.4M+503.4%
Total Assets

$3.04B

Previous: $2.71B+12.1%
Stock-Based Comp

$6.04M

Previous: $11.3M-46.7%

Revenue & EPS history

Oppenheimer · Revenue · Quarterly

$365M

Q4 2021-13.7%vs Q4 2020
Beat estimate in 5 of 5 quarters(100%)
ActualEstimate

Revenue by segment

Oppenheimer · $166M total across 1 segment · Q4 2021

  • Capital Markets
    $166M+25.8%

Forward guidance

Management anticipates employees returning to offices once the risks associated with the omicron variant subside while maintaining flexible work arrangements

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+0.7%

Avg return

Earnings day

+1.5%

Avg return

5 days after

+5.3%

Avg return

30 days after

55%

36 / 65 earnings

Positive

+20.3%

Q4 2020

Best reaction

-9.5%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.6%-15.8%-20.9%
Q4 2025+10.8%+19.1%+13.2%
Q3 2025+0.8%+0.8%-1.8%
Q1 2025+1.7%-0.2%+8.8%
Q4 2024-6.0%-7.6%-9.0%
Q3 2024+18.8%+18.3%+25.7%
Q2 2024-9.5%-11.3%-9.3%
Q1 2024+6.0%+4.1%+16.5%
Q4 2023-3.3%-6.3%-0.6%
Q3 2023+2.1%+5.6%+20.8%
Q2 2023-5.6%-5.1%-5.0%
Q1 2023-1.1%-1.9%-2.8%
Q4 2022-1.8%-2.5%-7.0%
Q3 2022+9.8%+13.6%+30.9%
Q2 2022-2.9%-2.0%-1.8%
Q1 2022-2.2%+1.3%+6.3%
Q4 2021+2.9%+3.0%+4.4%
Q3 2021+1.7%+4.7%-1.0%
Q2 2021+3.3%+2.5%+9.3%
Q1 2021+6.8%+5.9%+5.2%
Q4 2020+20.3%+17.4%+23.7%
Q3 2020-5.3%-2.8%+13.5%
Q2 2020+2.9%+8.5%+21.8%
Q1 2020-6.1%-11.4%+2.9%
Q4 2019+3.6%+7.2%-9.0%
Q3 2019-1.9%-0.1%+0.0%
Q2 2019+5.2%+3.2%-5.4%
Q1 2019+6.6%+5.7%+4.3%
Q4 2018+2.0%-2.2%+5.5%
Q3 2018+4.1%+8.2%-0.6%
Q2 2018+3.1%+9.6%+16.1%
Q1 2018+0.9%+1.7%+9.2%
Q4 2017+2.0%-2.0%-3.6%
Q3 2017+11.8%+17.2%+47.3%
Q2 2017-3.1%-2.5%+1.2%
Q1 2017-2.6%-6.3%-10.3%
Q4 2016-9.1%-12.8%-10.7%
Q3 2016-5.7%-6.4%+15.5%
Q2 2016+0.2%-0.6%+2.2%
Q1 2016-1.1%
Q4 2015+8.9%
Q3 2015-4.9%
Q2 2015-8.0%
Q1 2015+1.0%
Q4 2014+2.1%
Q3 2014+6.0%
Q2 2014-3.3%
Q1 2014-2.6%
Q4 2013-6.2%
Q3 2013+3.3%
Q2 2013-1.8%
Q1 2013+1.2%
Q4 2012+4.3%
Q2 2012+4.3%
Q3 2012+8.0%
Q4 2011+4.4%
Q1 2012-4.0%
Q1 2011-4.0%
Q2 2011-1.5%
Q4 2009-1.5%
Q3 2011+1.3%
Q3 2010+1.3%
Q4 2010-9.1%
Q2 2010-9.1%
Q1 2010+1.5%

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