{"id":987920,"date":"2026-07-31T08:14:01","date_gmt":"2026-07-31T12:14:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/oppenheimer-holdings-inc-reports-second-quarter-2026-earnings\/"},"modified":"2026-07-31T08:14:01","modified_gmt":"2026-07-31T12:14:01","slug":"oppenheimer-holdings-inc-reports-second-quarter-2026-earnings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/oppenheimer-holdings-inc-reports-second-quarter-2026-earnings\/","title":{"rendered":"Oppenheimer Holdings Inc. Reports Second Quarter 2026 Earnings"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n New York<\/span>, July 31, 2026<\/span> \/PRNewswire\/ — Oppenheimer Holdings Inc. (NYSE: OPY) (the “Company” or “Firm”) today reported net income of $27.4 million or $2.55 basic earnings per share for the second quarter of 2026, compared with net income of $21.7 million or $2.06 basic earnings per share for the second quarter of 2025. Revenue for the second quarter of 2026 was $454.9 million, an increase of 21.9%, compared with revenue of $373.2 million for the second quarter of 2025. Year to date revenue totaled $900.0 million, compared with $741.0 million for the same period in 2025. Net income for the six months ended June\u00a030, 2026 was $6.8 million or $0.63 basic earnings per share, compared with net income of $52.3 million or $4.99 basic earnings per share for the same period in 2025.<\/p>\n

Second quarter 2026 results were impacted by a $24.9 million pre-tax expense associated with an employee compensation program for financial advisors that is directly tied to the OPY stock price, which increased by $16.35 per share of Class A Stock during the quarter (from $89.19 to $105.54). The Company changed the program formula beginning in 2026 to reduce the number of grants awarded, although it will take several years for the impact of the revised program formula to be fully reflected. Adjusted net income (a)<\/sup>, a non-GAAP measure which excludes the impact of this item, was $45.7 million or $4.27 adjusted basic earnings per share for the second quarter of 2026, compared with $27.8 million or $2.64 adjusted basic earnings per share for the second quarter of 2025. For the six months ended June 30, 2026, adjusted net income (a)<\/sup>, which also excludes the $70 million pre-tax legal accrual related to the settlement of the Company’s “cash sweep” litigation recorded in the first quarter of 2026, was $93.2 million or $8.73 adjusted basic earnings per share, compared with $56.4 million or $5.38 adjusted basic earnings per share for the same period in 2025. Management believes these non-GAAP measures provide supplemental insight into the Company’s core operating performance.<\/p>\n

\n Robert S. Lowenthal<\/b>, President and CEO commented, “Favorable market conditions during the second quarter of 2026 helped drive the strong operating performance of our core businesses, although reported results were significantly and negatively impacted by the higher compensation expense related to stock appreciation rights for financial advisors. Equity markets registered their best quarterly performance in six years, supported by strong corporate earnings, sustained momentum in A.I. and improving sentiment around potential de-escalation in the Middle East. While renewed concerns around interest rates and A.I. valuations emerged toward quarter-end, markets largely absorbed these pressures and remained resilient. Overall, our business performed solidly during the second quarter and first half of the year. For the six months ended June 30, 2026, we reported adjusted net income <\/i>(a)<\/sup> (non-GAAP) of $93.2 million, or $8.73 adjusted basic earnings per share (non-GAAP), reflecting the continued momentum across our Wealth Management and Capital Markets businesses.<\/i><\/p>\n

\n In Wealth Management, we delivered strong operating results, driven by higher commission revenue from increased retail trading levels and increased advisory fees reflecting record assets under management (“AUM”) largely driven by market appreciation. Reported pre-tax results, however, were partially offset by lower sweep revenue.<\/i>\u00a0 In Capital Markets, we saw strong performance driven by increased investment banking activity\u2014which included a balance of both advisory and underwriting transactions\u2014along with higher sales and trading revenue in both Equities and Fixed Income amid elevated market volatility.<\/i><\/p>\n

\n We ended the quarter with a strong balance sheet and ample capital, positioning us to continue investing in our platform and capabilities. We are focused on attracting and retaining high-quality talent to support our growth initiatives and remain confident in the strength and resiliency of our businesses as we continue to deliver value to our clients and shareholders.”<\/i>\n <\/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 2Q-26<\/u>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n 2Q-25<\/u>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n $\u00a0454,876<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0373,178<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n $\u00a0307,141<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0239,074<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n $\u00a0108,290<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0101,894<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Pre-tax income<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a039,445<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a032,210<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income tax provision<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a012,094<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a010,536<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n $\u00a0 \u00a027,351<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a021,674<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted net income (Non-GAAP) (1)(a)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a045,713<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a027,781<\/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 \u00a02.55<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0 2.06<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted earnings per share (Basic) (Non-GAAP) (1)(a)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0 \u00a04.27<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0 2.64<\/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 \u00a02.38<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0 1.91<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted earnings per share (Diluted) <\/span>\n <\/p>\n

\n (Non-GAAP)\u00a0 (1)(a)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0 \u00a03.98<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0 2.45<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Book value per share<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a091.84<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a085.27<\/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 \u00a075.19<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a068.25<\/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 $\u00a0272,671<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0246,421<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Pre-tax income <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a055,654<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a062,834<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n AUA (billions)<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0154.7<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0138.4<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n AUM (billions)<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0 \u00a059.4<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0 \u00a052.8<\/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 $\u00a0179,163<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0122,981<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Pre-tax income (loss)<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a022,542<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0(3,864)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\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

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