NYSE$PIPR

Piper Sandler Companies · Q1 2025 earnings

Q1 2025 earnings · · Before market open · Investor relations

Briefing

Piper Sandler reported Q1 2025, revenue of $358.6M, net income of $64.9M, diluted EPS of $3.65.

For Q1 2025, Piper Sandler reported revenue of $358.6M, net income of $64.9M, diluted EPS was $3.65. The filing highlights segment performance, liquidity, and management commentary on the period.

  • Revenue $358.6M.
  • Net income $64.9M.
  • Diluted EPS $3.65.

Headline financials

Total Revenue

$359M

Previous: $344M+4.1%
EPS (adj)

$3.65

Previous: $2.43+50.2%
Pre-tax Margin

8.2%

No prior period
Effective Tax Rate

-24.9%

No prior period
Compensation Ratio

69.5%

No prior period
Non-compensation Ratio

22.2%

No prior period
Full-time Employees

1.8K

No prior period
Corporate Investment Banking Managing Directors

182

No prior period
Common Shareholders' Equity

$1.21B

No prior period
Common Shares Outstanding

16.5M

No prior period
Restricted Shares Outstanding

1.3M

No prior period
Total Shares Outstanding

17.8M

No prior period
Completed M&A and Restructuring Transactions

42

No prior period
Completed Capital Advisory Transactions

13

No prior period
Total Completed Advisory Transactions

55

No prior period
Total Equity Transactions Priced

15

No prior period
Book Run Equity Transactions Priced

11

No prior period
Total Debt and Preferred Transactions Priced

12

No prior period
Book Run Debt and Preferred Transactions Priced

8

No prior period
Aggregate Par Value of Issues Priced

$3.4B

No prior period
Total Issues Priced

94

No prior period
Number of Shares Traded

2.9B

No prior period
Net Income

$64.9M

Previous: $42.5M+52.8%
Operating Income

$29.4M

Previous: $258M-88.6%

Revenue & EPS history

Piper Sandler · Revenue · Quarterly

$359M

Q1 2025+4.1%vs Q1 2024
Beat estimate in 3 of 4 quarters(75%)
ActualEstimate

Forward guidance

Management discusses operating priorities, capital allocation, and sector risks in the quarterly filing.

Tailwinds

  • Headline results and segment trends anchor the quarter.
  • Liquidity and balance-sheet capacity support operations.
  • Strategic initiatives outlined in MD&A.

Headwinds

  • Macro, rates, or input costs may pressure margins.
  • One-time items affect year-over-year comparability.
  • Execution risk on growth or restructuring plans.

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 Q1 2025

Historical avgQ1 2025

+0.5%

Avg return

Earnings day

+1.1%

Avg return

5 days after

+3.4%

Avg return

30 days after

50%

15 / 30 earnings

Positive

+9.9%

Q4 2025

Best reaction

-8.9%

Q1 2026

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-8.9%-7.6%-10.1%
Q4 2025+9.9%+3.0%-11.5%
Q3 2025-2.4%+2.5%+2.7%
Q1 2025+3.7%+2.9%+3.6%
Q3 2024-3.3%-2.8%-4.0%
Q2 2024+1.9%+8.5%+11.1%
Q1 2024+1.2%+1.2%-1.6%
Q3 2023+1.7%-0.5%+10.8%
Q2 2023-1.2%+1.6%+1.0%
Q1 2023-1.1%+0.5%+4.1%
Q3 2022+3.2%+5.9%+12.2%
Q2 2022-2.1%+1.0%-8.1%
Q1 2022+0.3%-3.8%+2.1%
Q3 2021-0.2%+0.3%-5.4%
Q2 2021+3.6%+7.5%+10.0%
Q1 2021+0.4%+1.6%+7.4%
Q3 2020+2.0%+10.4%+14.0%
Q2 2020-0.9%+5.7%+11.1%
Q1 2020+2.8%+0.0%+36.0%
Q3 2019-0.2%-2.0%+1.0%
Q2 2019-0.7%-3.9%-3.7%
Q1 2019-1.6%-3.7%-9.8%
Q3 2018-0.0%+3.2%-6.0%
Q2 2018-0.1%-1.0%-3.4%
Q1 2018+2.0%+5.2%+5.8%
Q3 2017+0.1%+2.2%+10.0%
Q2 2017+2.2%-7.2%-10.0%
Q1 2017-0.6%-2.0%+0.7%
Q3 2016-0.6%-1.4%+25.9%
Q2 2016+3.4%+5.1%+7.6%

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