Cohen & Co. reports Q3 adjusted EPS $2.71 vs. $1.34 last year

Reports Q3 revenue $84.2M vs. $31.7M last year. Lester Brafman, Chief Executive Officer of Cohen & Company, said, “Our third quarter results were driven by continued strong performance from our full-service boutique investment banking division, Cohen & Company Capital Markets. During the quarter, CCM generated $68.6 million of net revenue, comprised of $228.0 million in advisory revenue across 18 clients, partially offset by negative principal transactions revenue of $159.4 million from investment assets received as CCM client consideration. Supported by its strong pipeline of transactions, CCM is well positioned to deliver an exceptional performance through the end of the year and enter 2026 with significant momentum. Going forward we will continue to focus on being the advisor of choice to the growth and frontier technology sectors of the economy. In addition, the declining interest rate environment has bolstered our trading revenue, which was up 26% in the third quarter from the previous quarter, with increased revenue across most of our trading desks. We expect this trend will continue, providing additional opportunities to enhance net trading revenue.”