Filing Flows › Oppenheimer Holdings (OPY) › Q1 2025
Oppenheimer Holdings (OPY) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 25, 2025
Oppenheimer Holdings (OPY) reported revenue of $368M for the first quarter 2025 (Q1 2025), +4% from a year earlier and -2% from the quarter before. Operating margin was 11.2%, net earnings $30.7M (8.3% of revenue).
Oppenheimer Holdings, Q1 2025: revenue $368M (+4% year over year), operating margin 11.2%, net earnings $30.7M, operating cash flow −$91.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $368M | -2% | +4% |
| Operating profit | $41.4M | +142% | +10% |
| Net earnings | $30.7M | +186% | +19% |
| Operating cash flow | −$91.7M | — | — |
What changed
Revenue was $367.8M in Q1 2025, up 4% year over year and down 2% from the previous quarter. Advisory Fees was the largest line at 35% of revenue. Commissions from sales and trading added $14.7M year over year (up 17%), 100% of the total change. Investment banking - advisory declined 19%.
Operating profit was $41.4M, a 11.2% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 27% reached operating profit, above the 11% margin then. Total costs grew 3% against revenue growth of 4%. Net earnings were $30.7M, up 18% year over year. The effective tax rate was 25.9%.
Operating cash flow was −$91.7M. Non-cash charges added back $716K of share-based compensation. Working capital and other items used $123.1M. Capital expenditures of $1.7M exceeded it, leaving free cash flow of −$93.4M.
Questions
What was Oppenheimer Holdings' revenue in the first quarter 2025?
Oppenheimer Holdings (OPY) reported revenue of $368M for the first quarter 2025 (Q1 2025), +4% from a year earlier and -2% from the quarter before.
Was Oppenheimer Holdings profitable in the first quarter 2025?
Operating profit was $41.4M (11.2% of revenue) and net earnings $30.7M.