Piper Sandler Companies Earnings Recaps
Q3 2025
Oct 31, 2025
Piper Sandler delivered strong Q3 2025 results with adjusted net revenues of $455 million and adjusted EPS of $3.82, reflecting robust growth driven by improved market conditions and significant corporate investment banking activity.
Key takeaways
- Recorded an operating margin of 21.2%, marking eight consecutive quarters of year-over-year revenue growth.
- Generated $292 million in corporate investment banking revenues, showcasing a strong performance led by advisory services, particularly in health care and financial services.
- Successfully completed 82 transactions, with a 13% increase in advisory revenues year-over-year, confirming leadership in the U.S. bank M&A landscape.
- Achieved $80 million in corporate financing revenues, the highest since 2021, supported by increased transaction activity and higher average fees in a favorable market.
- Continued expansion of talent, adding eight managing directors to enhance capabilities in technology and other key sectors.