Filing Flows › Piper Sandler Companies (PIPR) › Q2 2026
Piper Sandler Companies (PIPR) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Piper Sandler Companies (PIPR) reported revenue of $496M for the second quarter 2026 (Q2 2026), +25% from a year earlier and +4% from the quarter before. Operating margin was 20.2%, net earnings $67.8M (13.7% of revenue).
Piper Sandler Companies, Q2 2026: revenue $496M (+24% year over year), operating margin 20.2%, net earnings $67.8M, operating cash flow $36.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $496M | +4% | +25% |
| Operating profit | $100M | +14% | +105% |
| Net earnings | $67.8M | +4% | +61% |
| Operating cash flow | $36.3M | — | +13% |
What changed
Revenue was $496.3M in Q2 2026, up 25% year over year and up 4% from the previous quarter.
Operating profit was $100.4M, a 20.2% margin (up 8.0 points year over year). Of the extra revenue versus Q2 2025, 53% reached operating profit, above the 12% margin then. Total costs grew 13% against revenue growth of 25%. Net earnings were $67.8M, up 61% year over year. The effective tax rate was 30.2%.
Operating cash flow was $36.3M (up 13% year over year), 52% of net income including minority interests. Non-cash charges added back $6.9M of depreciation and amortization and $28.8M of share-based compensation. Working capital and other items used $69.6M.
Questions
What was Piper Sandler Companies' revenue in the second quarter 2026?
Piper Sandler Companies (PIPR) reported revenue of $496M for the second quarter 2026 (Q2 2026), +25% from a year earlier and +4% from the quarter before.
Was Piper Sandler Companies profitable in the second quarter 2026?
Operating profit was $100M (20.2% of revenue) and net earnings $67.8M.