Piper Sandler Companies (NYSE:PIPR) reported second-quarter adjusted net revenue of $491 million, a 21% increase year-over-year, driven by strong advisory activity and equity brokerage results. The firm achieved adjusted operating income of $107 million and a margin of 21.8%, with adjusted net income at $74 million, or $1.40 per diluted share.
For the first half of 2026, the company generated $961 million in adjusted net revenue, up 22%, and reported a net income of $146 million or $2.04 per diluted share. Corporate investment banking revenue hit $312 million, a 31% increase, while advisory revenue reached a record $274 million, marking a 34% rise in the second quarter.
In financing, corporate financing revenue grew 10% to $38 million and municipal financing revenue rose 18% to $50 million, with the firm raising a total of $5 billion in par value. Piper Sandler also announced a quarterly cash dividend of $0.20 per share, to be paid on September 11 to shareholders on record as of August 28.
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