{"id":842148,"date":"2025-04-25T08:13:17","date_gmt":"2025-04-25T12:13:17","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/oppenheimer-holdings-inc-reports-first-quarter-2025-earnings\/"},"modified":"2025-04-25T08:13:17","modified_gmt":"2025-04-25T12:13:17","slug":"oppenheimer-holdings-inc-reports-first-quarter-2025-earnings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/oppenheimer-holdings-inc-reports-first-quarter-2025-earnings\/","title":{"rendered":"Oppenheimer Holdings Inc. Reports First Quarter 2025 Earnings"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n
\n NEW YORK<\/span>
\n <\/span>, April 25, 2025<\/span><\/span> \/PRNewswire\/ – Oppenheimer Holdings Inc. (NYSE: OPY) (the “Company” or “Firm”) today reported net income of $30.7 million<\/span> or $2.93<\/span> basic earnings per share for the first quarter of 2025, compared with net income of $26.1 million<\/span> or $2.50<\/span> basic earnings per share for the first quarter of 2024. Revenue for the first quarter of 2025 was $367.8 million<\/span>, an increase of 4.2%, compared to revenue of $353.1 million<\/span> for the first quarter of 2024.<\/p>\n

\n
\n Albert G. Lowenthal<\/span>
\n <\/b>, Chairman and CEO commented, “The Firm’s solid performance for the quarter underscores the ability of our diversified businesses to deliver profitable operating results in increasingly uncertain macroeconomic conditions. During the quarter, all major indices receded from prior quarter highs as the financial markets digested the new administration’s swift policy changes on trade, immigration and government spending as well as initiatives on decreased regulation. Concerns that recently enacted tariffs would likely provoke a wider trade war and spur “stagflation” \u2013 a combination of slower growth and higher inflation \u2013 produced increased volatility and lower valuations for equity securities as well as pressure on the U.S. dollar. The likelihood of a recession has increased significantly, coupled with reduced consumer confidence and expectations for higher inflation resulting from increased import prices. There are dimmed hopes for a resumption of active capital market activity with little probability of increased corporate issuances of common stock through IPOs or secondaries. Should market declines persist, this will also negatively impact our assets under management (“AUM”) and fees earned from that activity. We hope that recent market turbulence will convince policy makers that recent “on-off” announcements of market-moving policy is significantly impacting likely economic outcomes and that they will significantly reduce such activity.<\/i><\/p>\n

\n Notwithstanding the increasingly negative market sentiment, our Wealth Management business delivered strong results with a number of improvements over the prior year. The volatile markets spurred robust trading by our clients, driving higher retail commissions. Asset-based advisory fees also increased since AUM, while slightly reduced from recently established all-time highs, remained well above AUMs outstanding during the comparable period. A decline in our interest-sensitive revenues, partially offset these improvements due to lower short term interest rates and reduced FDIC sweep balances.\u00a0 <\/i>\n <\/p>\n

\n Our Capital Markets revenues exceeded prior year levels despite challenging market conditions that saw lower underwriting activity amid postponed transactions by corporate clients owing to policy uncertainties and volatile markets that put a damper on deal making activities and new issuance levels.\u00a0 Institutional trading volumes increased in the volatile markets seen during the latter part of the 1st<\/sup> quarter, which were favorable to our sales and trading revenues.<\/i>\n <\/p>\n

\n The Firm ended the quarter with record equity levels and is well-positioned for our CEO-elect, Robert Lowenthal<\/span>, to take advantage of the opportunities that lie ahead. I am confident that the Firm is heading into the next era with the right leadership team that will guide the Company to its best days yet.<\/i>” \u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n
\n Summary Operating Results (Unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (‘000s, except per share amounts or otherwise indicated)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Firm<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n 1Q-25<\/u>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n 1Q-24<\/u>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 367,825<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 353,138<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Compensation Expenses<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 227,091<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 221,713<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Non-compensation Expenses<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 99,358<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 93,970<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Pre-Tax Income <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 41,376<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 37,455<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income Tax Provision<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 10,721<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 11,711<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Income (1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 30,655<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 26,054<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Earnings Per Share (Basic) (1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.93<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.50<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Earnings Per Share (Diluted) (1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.72<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.37<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Book Value Per Share<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 82.87<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 77.47<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Tangible Book Value Per Share (2)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 65.85<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 60.41<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Wealth Management <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 241,986<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 237,961<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Pre-Tax Income <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 67,864<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 75,785<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Assets Under Administration (billions)<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 129.9<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 124.9<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Assets Under Management (billions)<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 48.9<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 46.6<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Capital Markets<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 123,261<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 112,083<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Pre-Tax Loss<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 (5,097)<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 (6,702)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (1) Attributable to Oppenheimer Holdings Inc.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (2) Represents book value less goodwill and intangible assets divided by number of shares outstanding.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n
\n Highlights<\/u>
\n <\/b>\n <\/p>\n