---
schema_version: "secwatch.filing_event.v1"
accession: "0001230245-23-000010"
form_type: "8-K"
ticker: "PIPR"
cik: "0001230245"
company_name: "PIPER SANDLER COMPANIES"
filed_at: "2023-02-03T23:59:59+00:00"
generated_at: "2026-06-20T00:51:55.364592+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Piper Sandler Q4 net rev $391M (-40% YoY); EPS $2.25; declares $1.25 special dividend

## Summary
- Q4 net revenues $391M, down 40% YoY; full year $1.426B, second strongest but down 30% YoY.
- GAAP diluted EPS Q4 $2.25 vs $6.54 prior year; full year $6.52 vs $16.43.
- Adjusted EPS Q4 $3.33, full year $11.26; advisory services revenue down 46% Q4 YoY.
- Declared special dividend $1.25/share plus quarterly $0.60, payable March 17, 2023.
- Returned $295M to shareholders in 2022 via buybacks and dividends; acquired DBO Partners in October.

## SEC filing metadata
- accession: 0001230245-23-000010
- form_type: 8-K
- ticker: PIPR
- cik: 0001230245
- company_name: PIPER SANDLER COMPANIES
- filed_at: 2023-02-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1230245/000123024523000010/0001230245-23-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1230245/000123024523000010/pipr-20230203.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001230245-23-000010
- JSON: https://secwatch.observer/filing/0001230245-23-000010.json
- Plain text: https://secwatch.observer/filing/0001230245-23-000010.txt

## Key facts
- Earnings Releases
  PIPER SANDLER COMPANIES reported the fiscal year ended December 31, 2022 results: revenue $1,425.6, net income $110.7, EPS $6.52.
  - Period: the fiscal year ended December 31, 2022
  - Revenue: $1,425.6
  - Net income: $110.7
  - EPS: $6.52
  - Result: reported results
  source text: Net revenues $391.0 18 % -40 % $390.9 17 % -38 % $1,425.6 -30 % $1,433.7 -28 % Pre-tax margin 10.9 % 5.2pp -15.2pp 19.3 % 2.0pp -11.4pp 9.4 % -12.3pp 18.8 % -9.0pp Net income applicable to Piper Sandler Companies $38.1 162 % -66 % $59.8 46 % -58 % $110.7 -60 % $201.3 -50 % Earnings per diluted common share $2.25 159 % -66 % $3.33 44 % -58 % $6.52 -60 % $11.26 -49 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1230245/000123024523000010/0001230245-23-000010-index.htm
- Earnings Releases
  PIPER SANDLER COMPANIES reported the fourth fiscal quarter ended December 31, 2022 results: revenue $391.0, net income $38.1, EPS $2.25.
  - Period: the fourth fiscal quarter ended December 31, 2022
  - Revenue: $391.0
  - Net income: $38.1
  - EPS: $2.25
  - Result: reported results
  source text: Net revenues $391.0 18 % -40 % $390.9 17 % -38 % $1,425.6 -30 % $1,433.7 -28 % Pre-tax margin 10.9 % 5.2pp -15.2pp 19.3 % 2.0pp -11.4pp 9.4 % -12.3pp 18.8 % -9.0pp Net income applicable to Piper Sandler Companies $38.1 162 % -66 % $59.8 46 % -58 % $110.7 -60 % $201.3 -50 % Earnings per diluted common share $2.25 159 % -66 % $3.33 44 % -58 % $6.52 -60 % $11.26 -49 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1230245/000123024523000010/0001230245-23-000010-index.htm

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