v3.26.3
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues        
Investment banking $ 331,680 $ 329,346 $ 1,041,397 $ 886,604
Institutional brokerage 114,276 110,732 336,653 327,121
Interest income 11,241 9,374 31,991 27,284
Investment income/(loss) (13,545) 30,642 5,010 (3,784)
Total revenues 443,652 480,094 1,415,051 1,237,225
Interest expense 605 818 2,080 3,899
Net revenues 443,047 479,276 1,412,971 1,233,326
Non-interest expenses        
Compensation and benefits 286,637 288,901 891,403 795,574
Occupancy and equipment 22,426 19,448 60,103 55,117
Outside services 17,445 14,626 47,938 51,017
Communications 15,564 14,852 46,359 45,237
Marketing and business development 14,855 12,385 45,889 41,127
Trade execution and clearance 6,179 4,775 16,630 14,650
Restructuring and integration costs 0 1,044 0 6,042
Intangible asset amortization 2,057 2,147 6,172 6,370
Other operating expenses 11,251 13,671 43,478 32,408
Total non-interest expenses 376,414 371,849 1,157,972 1,047,542
Income before income tax expense 66,633 107,427 254,999 185,784
Income tax expense 26,475 24,949 76,432 34,783
Net income 40,158 82,478 178,567 151,001
Net income/(loss) attributable to noncontrolling interests (15,257) 22,212 (9,935) (16,362)
Net income attributable to Piper Sandler Companies $ 55,415 $ 60,266 $ 188,502 $ 167,363
Earnings per common share (1)        
Basic $ 0.82 $ 0.90 [1] $ 2.79 $ 2.52 [1]
Diluted 0.78 0.85 [1] 2.65 2.35 [1]
Dividends declared per common share $ 0.20 $ 0.18 [1] $ 1.83 [1] $ 1.25 [1]
Weighted average number of common shares outstanding (1)        
Basic (in shares) 67,257 66,862 [1] 67,596 66,401 [1]
Diluted (in shares) 70,667 71,232 [1] 71,045 71,100 [1]
[1] Common shares and per common share information have been adjusted to reflect the four-for-one forward split of common stock, as discussed in Note 1.