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MINNEAPOLIS - On Friday, Piper Sandler Companies (NYSE:PIPR) reported third-quarter earnings that exceeded analyst expectations, driven by a significant increase in equity financings and strong performance across its business segments.
The investment bank’s shares rose 1.19% in pre-market trading following the announcement.
The company reported adjusted earnings per share of $3.82, beating the analyst estimate of $3.17, while revenue reached $479 million, well above the consensus estimate of $422.8 million. Revenue increased 33% compared to the same quarter last year.
Corporate financing revenues surged 345% YoY to $79.7 million, reflecting a higher average fee and increased corporate financing activity. Advisory services revenue grew 13% YoY to $212.4 million, led by strong performance in the financial services sector. Fixed income services generated $56 million in revenue, up 15% from the third quarter of 2024.
"We delivered record third quarter revenues powered by an increase in equity financings as well as strong activity across the rest of our businesses," said Chad Abraham, chairman and chief executive officer. "We are pleased with our momentum, client engagement remains high and we are well-positioned to finish the year strong."
The company’s pre-tax margin improved to 22.4%, up from 15.5% in the same quarter last year, driven by increased revenues and a lower compensation ratio. Piper Sandler completed 82 advisory transactions during the quarter, a 15% increase from the previous year.
The board declared a quarterly dividend of $0.70 per share, payable on December 12, 2025, to shareholders of record as of November 25, 2025.
For the first nine months of 2025, Piper Sandler returned $204 million to shareholders through share repurchases and dividends.
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