Record-High Quarterly Adjusted Net Revenues
Piper Sandler reported quarterly adjusted net revenues of $455 million, a 29% increase over the same period last year.
Strong Performance in Corporate Investment Banking
Corporate investment banking revenues were $292 million, reflecting significant growth over the prior year with a notable advisory component generating $212 million, up 13% year-over-year.
Robust Equity Capital Markets Activity
The third quarter saw strong equity capital markets activity, contributing to a 12% increase in net revenues from the sequential quarter.
Record Year for Debt Capital Markets Advisory
The debt capital markets advisory business is on pace to deliver a third consecutive record year, with higher average fees and a broader client base.
Improved Operating Margin
The company achieved an operating margin of 21.2% for the third quarter of 2025, surpassing its target of 20%.