Filing Flows › Piper Sandler Companies (PIPR) › Q3 2026
Piper Sandler Companies (PIPR) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Piper Sandler Companies (PIPR) reported revenue of $444M for the third quarter 2026 (Q3 2026), -8% from a year earlier and -11% from the quarter before. Operating margin was 15.0%, net earnings $55.4M (12.5% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $444M | -11% | -8% |
| Operating profit | $66.6M | -34% | -38% |
| Net earnings | $55.4M | -18% | -8% |
| Operating cash flow | $350M | +865% | +997% |
What changed
Revenue was $443.7M in Q3 2026, down 8% year over year and down 11% from the previous quarter.
Operating profit was $66.6M, a 15.0% margin (down 7.4 points year over year). Total costs grew 1% against a revenue fall of 8%. Net earnings were $55.4M, down 8% year over year ($40.2M including minority interests, which bore $15.3M of losses). The effective tax rate was 39.7%.
Operating cash flow was $349.9M (up 997% year over year), 871% of net income including minority interests. Non-cash charges added back $7.2M of depreciation and amortization and $25.6M of share-based compensation. Working capital and other items added $276.9M.
Questions
What was Piper Sandler Companies' revenue in the third quarter 2026?
Piper Sandler Companies (PIPR) reported revenue of $444M for the third quarter 2026 (Q3 2026), -8% from a year earlier and -11% from the quarter before.
Was Piper Sandler Companies profitable in the third quarter 2026?
Operating profit was $66.6M (15.0% of revenue) and net earnings $55.4M.