Piper Sandler Q2 GAAP EPS $0.23, adjusted EPS $1.13; revenue down 18% YoY

PIPER SANDLER COMPANIES

2023-Q2 EPS reported $1.73 revenue$591,875,000

GAAP net revenues $288.7M, down 18% YoY; adjusted net revenues $277.4M, down 20% YoY.
GAAP net income $4.0M ($0.23 per diluted share); adjusted net income $20.2M ($1.13 per share).
GAAP pre-tax margin 5.0%; adjusted pre-tax margin 9.5%, down 800 bps YoY.
Declared quarterly dividend of $0.60 per share.
CEO cites challenging market conditions across the industry.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PIPER SANDLER COMPANIES reported second quarter ended June 30, 2023 results: revenue $288.7, net income $4.0, EPS $0.23.

Period: second quarter ended June 30, 2023
Revenue: $288.7
Net income: $4.0
EPS: $0.23
Result: reported results

Exact text from the filing

Second Quarter 2023 Results U.S. GAAP Adjusted (1) (Dollars in millions, except per share data) Q2 vs. vs. Q2 vs. vs. 2023 Q1-23 Q2-22 2023 Q1-23 Q2-22 Net revenues $288.7 -3 % -18 % $277.4 -4 % -20 % Pre-tax margin 5.0 % -3.7pp -5.6pp 9.5 % -4.6pp -8.0pp Net income applicable to Piper Sandler Companies $4.0 -85 % -82 % $20.2 -52 % -54 % Earnings

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Source: SEC EDGAR

accession 0001230245-23-000122

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