Filing Flows › Oppenheimer Holdings (OPY) › Q2 2026
Oppenheimer Holdings (OPY) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 31, 2026
Oppenheimer Holdings (OPY) reported revenue of $455M for the second quarter 2026 (Q2 2026), +22% from a year earlier and +2% from the quarter before. Operating margin was 8.7%, net earnings $27.4M (6.0% of revenue).
Oppenheimer Holdings, Q2 2026: revenue $455M (+22% year over year), operating margin 8.7%, net earnings $27.4M, operating cash flow −$55.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $455M | +2% | +22% |
| Operating profit | $39.4M | — | +22% |
| Net earnings | $27.4M | — | +26% |
| Operating cash flow | −$55.0M | — | -237% |
What changed
Revenue was $454.9M in Q2 2026, up 22% year over year and up 2% from the previous quarter. Advisory Fees was the largest line at 32% of revenue. Investment banking - advisory added $35.6M year over year (up 159%), 44% of the total change. Bank Deposit Sweep Income declined 13%.
Operating profit was $39.4M, a 8.7% margin (unchanged year over year). Of the extra revenue versus Q2 2025, 9% reached operating profit, above the 9% margin then. Total costs grew 22% against revenue growth of 22%. Net earnings were $27.4M, up 26% year over year. The effective tax rate was 30.7%.
Operating cash flow was −$55.0M. Non-cash charges added back $29.4M of share-based compensation. Working capital and other items used $111.8M. Capital expenditures of $2.0M exceeded it, leaving free cash flow of −$57.1M.
Questions
What was Oppenheimer Holdings' revenue in the second quarter 2026?
Oppenheimer Holdings (OPY) reported revenue of $455M for the second quarter 2026 (Q2 2026), +22% from a year earlier and +2% from the quarter before.
Was Oppenheimer Holdings profitable in the second quarter 2026?
Operating profit was $39.4M (8.7% of revenue) and net earnings $27.4M.