---
schema_version: "secwatch.filing_event.v1"
accession: "0001230245-25-000015"
form_type: "8-K"
ticker: "PIPR"
cik: "0001230245"
company_name: "PIPER SANDLER COMPANIES"
filed_at: "2025-01-31T23:59:59+00:00"
generated_at: "2026-05-27T04:34:51.376267+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Piper Sandler Q4 net rev $484M (+35% QoQ), FY rev $1.53B (+13%); declares $3 special dividend

## Summary
- Q4 GAAP net income $69M, diluted EPS $3.86; adjusted net income $87M, adjusted EPS $4.80.
- Full-year GAAP net income $181M, diluted EPS $10.24; adjusted net income $228M, adjusted EPS $12.69 (up 37% YoY).
- Q4 net revenues $484M (up 35% QoQ, 3% YoY); full-year net revenues $1.526B (up 13% YoY).
- Pre-tax margin improved to 17.0% GAAP, 24.4% adjusted for Q4; full-year 14.3% GAAP, 19.7% adjusted.
- Declared special dividend of $3.00 per share and quarterly dividend of $0.65 per share.

## SEC filing metadata
- accession: 0001230245-25-000015
- form_type: 8-K
- ticker: PIPR
- cik: 0001230245
- company_name: PIPER SANDLER COMPANIES
- filed_at: 2025-01-31T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1230245/000123024525000015/0001230245-25-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1230245/000123024525000015/pipr-20250131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001230245-25-000015
- JSON: https://secwatch.observer/filing/0001230245-25-000015.json
- Plain text: https://secwatch.observer/filing/0001230245-25-000015.txt

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