---
schema_version: "secwatch.filing_event.v1"
accession: "0000791963-23-000035"
form_type: "8-K"
ticker: "OPY"
cik: "0000791963"
company_name: "OPPENHEIMER HOLDINGS INC"
filed_at: "2023-07-28T23:59:59+00:00"
generated_at: "2026-06-12T23:26:31.037454+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000791963-23-000035
- form_type: 8-K
- ticker: OPY
- cik: 0000791963
- company_name: OPPENHEIMER HOLDINGS INC
- filed_at: 2023-07-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/791963/000079196323000035/0000791963-23-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/791963/000079196323000035/opy-20230728.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000791963-23-000035
- JSON: https://secwatch.observer/filing/0000791963-23-000035.json
- Plain text: https://secwatch.observer/filing/0000791963-23-000035.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/791963/000079196323000035/0000791963-23-000035-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.