PIPR•Piper Sandler’s third-quarter net revenues fell 8% year over year, while adjusted net revenues were flat and adjusted EPS declined 9% to $0.78. The company authorized a new $200 million share repurchase program.
Piper Sandler reported third-quarter net income of $55 million and adjusted EPS of $0.78, down 9% year over year. Net revenues declined 8%, while adjusted net revenues were flat.
Advisory services revenue rose 18% year over year. Fixed income services generated $60 million in revenue, its best quarter since 2021, and corporate investment banking reported record third-quarter revenue of $307 million.
The company authorized a new $200 million share repurchase program. It did not provide specific guidance for future quarters or the full year.
