Filing Flows › Oppenheimer Holdings (OPY) › Q3 2026
Oppenheimer Holdings (OPY) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 30, 2026
Oppenheimer Holdings (OPY) reported revenue of $382M for the third quarter 2026 (Q3 2026), -10% from a year earlier and -16% from the quarter before. Operating margin was 2.3%, net earnings $5.4M (1.4% of revenue).
Oppenheimer Holdings, Q3 2026: revenue $382M (-10% year over year), operating margin 2.3%, net earnings $5.4M, operating cash flow $132M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $382M | -16% | -10% |
| Operating profit | $8.8M | -78% | -72% |
| Net earnings | $5.4M | -80% | -75% |
| Operating cash flow | $132M | — | +109% |
| Free cash flow | $129M | — | +107% |
What changed
Revenue was $382.0M in Q3 2026, down 10% year over year and down 16% from the previous quarter. Advisory Fees was the largest line at 41% of revenue. Investment Banking, Capital Markets lost $42.5M year over year (down 77%), 100% of the total change.
Operating profit was $8.8M, a 2.3% margin (down 5.2 points year over year). Total costs fell 5% while revenue fell 10%. Net earnings were $5.5M, down 75% year over year. The effective tax rate was 38.5%.
Operating cash flow was $132.4M (up 109% year over year), 2449% of net earnings. Non-cash charges added back $25.9M of share-based compensation. Working capital and other items added $101.0M. Capital expenditures of $3.8M left free cash flow of $128.6M.
Questions
What was Oppenheimer Holdings' revenue in the third quarter 2026?
Oppenheimer Holdings (OPY) reported revenue of $382M for the third quarter 2026 (Q3 2026), -10% from a year earlier and -16% from the quarter before.
Was Oppenheimer Holdings profitable in the third quarter 2026?
Operating profit was $8.8M (2.3% of revenue) and net earnings $5.4M.