Oppenheimer Q2 net loss $9.4M on legal reserve; revenue up 29%

OPPENHEIMER HOLDINGS INC

2023-Q2 EPS reported $0.44 revenue$627,868,000

Net loss $9.4M ($0.85) vs loss $3.9M ($0.32) YoY; revenue $306.2M (+29.1%).
Non-comp expenses surged 100% to $130.7M, driven by accrual of a significant legal reserve.
Private Client revenue +39% to $201.2M; sweep income +197% and margin interest +116%.
Capital Markets revenue +12% to $79.6M; advisory fees +32%, fixed income trading +37%.
Repurchased 96,135 shares in Q2; Dutch auction tender for 437,183 shares at $40/share completed July.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OPPENHEIMER HOLDINGS INC reported second quarter of 2023 results: revenue $306.2 million, net income $9.4 million, EPS $(0.85) per share.

Period: second quarter of 2023
Revenue: $306.2 million
Net income: $9.4 million
EPS: $(0.85) per share
Result: reported results

Exact text from the filing

Oppenheimer Holdings Inc. (NYSE: OPY) (the "Company" or "Firm") today reported a net loss of $9.4 million or $(0.85) per share for the second quarter of 2023, compared with a net loss of $3.9 million or $(0.32) per share for the second quarter of 2022. Revenue for the second quarter of 2023 was $306.2 million, an increase of 29.1%, compared to revenue of $237.2 million for the second quarter of 2022.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

OPPENHEIMER HOLDINGS INC filing history →

Source: SEC EDGAR

accession 0000791963-23-000035

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