Filing Flows › Piper Sandler Companies (PIPR) › Q3 2026 › vs Q2 2026
Piper Sandler Companies (PIPR) Q3 2026 vs Q2 2026 (quarter over quarter)
Piper Sandler Companies's revenue fell $52.6M (-11%) from $496M in Q2 2026 to $444M in Q3 2026. Operating margin 15.0% against 20.2% (-5.2 pts).
Piper Sandler Companies, Q3 2026: revenue $444M (-8% year over year), operating margin 15.0%, net earnings $55.4M, operating cash flow $350M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 15.0% | 20.2% | -5.2 pts |
| Net margin | 12.5% | 13.7% | -1.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $444M | $496M | −$52.6M | -11% |
| Operating profit | $66.6M | $100M | −$33.8M | -34% |
| Costs & expenses | $377M | $396M | −$18.8M | -5% |
| Pre-tax earnings | $66.6M | $100M | −$33.8M | -34% |
| Loss borne by minority interests | $15.3M | −$2.3M | $17.5M | — |
| Net earnings | $55.4M | $67.8M | −$12.4M | -18% |
| Income tax | $26.5M | $30.3M | −$3.9M | -13% |
| Depreciation & amortization | $7.2M | $6.9M | $252K | +4% |
| Share-based compensation | $25.6M | $28.8M | −$3.1M | -11% |
| Working capital & other | $262M | −$67.3M | $329M | — |
| Operating cash flow | $350M | $36.3M | $314M | +865% |
Questions
How much did Piper Sandler Companies's revenue grow quarter over quarter in Q3 2026?
Piper Sandler Companies's revenue fell $52.6M (-11%) from $496M in Q2 2026 to $444M in Q3 2026. Operating margin 15.0% against 20.2% (-5.2 pts).