Focus on adjusted metrics vs GAAP; the cash sweep litigation is a one-time event but may create near-term volatility. Watch for sustainable revenue growth momentum in wealth management and capital markets segments.
Price Chart
Executive Summary
Oppenheimer Holdings reported Q1 2026 revenue of $445.1M (up 21% YoY) but a GAAP net loss of $20.6M due to a $70M cash sweep litigation settlement and $22.3M stock appreciation rights expense. On an adjusted non-GAAP basis, EPS was $4.46, and the board increased the quarterly dividend by 11.1% to $0.20. The mixed results reflect strong core revenue growth offset by one-time charges.
Key Facts
- Q1 2026 revenue of $445.1M, up 21% YoY from $367.8M
- GAAP net loss of $20.6M vs net income of $30.7M in prior year
- Adjusted non-GAAP EPS (basic) of $4.46 vs $2.74 prior year
- Quarterly dividend increased 11.1% to $0.20 per share
- Investment banking revenue surged 105.2% to $97.7M
Financial Impact
Net loss of $20.6M on GAAP basis includes $70M cash sweep litigation charge and $22.3M stock appreciation rights expense; adjusted net income of $47.5M shows underlying strength
Risk Factors
- Ongoing litigation (cash sweep) could result in further expenses
- Stock appreciation rights expense tied to share price creates compensation cost variability
- Market conditions could impact investment banking and advisory fees
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-029540 |
| Document: opy1q-2026investorpresen.htm | 0001628280-26-029540 |
| Document: 0001628280-26-029540-index-headers.html | 0001628280-26-029540 |
| Document: 0001628280-26-029540-index.html | 0001628280-26-029540 |
| Document: 0001628280-26-029540.txt | 0001628280-26-029540 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 31, 2026 12w ago | 8-K | $106.64 $103.09 | ▼ −3.33% | ▼ −5.78% | $105.00 (−1.53%) |
Jul 31, 2026 12w ago | Press Release | $106.64 $103.09 | ▼ −3.33% | ▼ −5.78% | $105.00 (−1.53%) |
May 4, 2026 25w ago | 8-K | $98.58 $109.79 | ▲ +11.37% | ▲ +9.52% | $105.00 (+6.52%) |
Mar 30, 2026 30w ago | Court Ruling | $87.56 $104.84 | ▲ +19.73% | ▲ +3.24% | $105.00 (+19.92%) |
US Market Status
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