PIPER SANDLER COMPANIES PJC Income Statement

Piper sandler companies (PJC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues:
Investment banking
158,998	218,400	151,192	118,739	141,061	177,775	166,458	123,904	120,841	172,577	190,482	138,528	132,250	152,306	136,682	97,414	103,938	129,332	91,640	106,069	87,077	82,613	94,911	103,813	88,474	91,639	62,848	53,255	40,821	84,422	51,083	49,368	48,085	44,379	44,031	67,062	47,041	66,111	56,243	71,745	43,748	48,115	62,150
Institutional Brokerage Revenue
89,143	53,908	46,814	32,204	34,965	32,212	31,746	33,135	27,645	43,629	34,873	37,074	39,136	38,763	42,189	48,185	32,049	48,010	34,182	36,661	36,036	42,324	35,923	34,528	44,034	46,572	35,318	24,611	40,147	32,636	58,719	31,207	44,080	20,638	28,689	37,800	48,231	40,928	40,432	32,084	49,095	59,576	60,852
Asset management
-	-	-	-	-	-	-	-	12,589	-	12,818	15,186	16,007	16,973	15,256	14,595	13,848	16,287	18,951	19,257	20,522	20,242	21,595	22,266	20,959	27,461	18,701	18,427	18,456	17,000	16,136	16,030	16,533	10,533	15,205	19,640	17,929	14,109	16,812	15,873	9,154	3,568	3,240
Interest income
6,065	5,830	6,481	6,863	7,567	7,566	6,592	8,178	10,413	9,305	7,164	7,766	7,719	8,980	7,343	7,922	8,829	8,802	9,128	11,422	12,205	11,781	10,828	12,448	13,659	14,940	12,360	12,286	10,823	2,103	12,457	12,139	11,146	958	15,116	13,144	14,229	12,444	11,497	14,313	13,449	11,854	8,973
Investment income (loss)
-13,826	4,653	-1,575	17,605	1,592	1,024	4,860	2,243	2,912	7,980	-422	5,453	10,375	10,583	4,806	8,276	937	613	831	-3,299	12,591	434	2,690	2,921	6,768	13,281	5,279	-2,059	5,065	3,661	235	979	28	-1,954	1,710	2,911	5,511	631	-368	3,495	2,927	3,340	-950
Total revenues
240,380	282,791	202,912	175,411	185,185	205,988	209,656	167,460	174,400	189,480	244,915	204,007	205,487	227,605	206,276	176,392	159,601	203,044	154,732	170,110	168,431	157,394	165,947	175,976	173,894	193,893	134,506	106,520	115,312	139,822	138,630	109,723	119,872	74,554	104,751	140,557	132,941	134,223	124,616	137,510	118,373	126,453	134,265
Interest expense
4,212	3,920	2,177	2,993	2,643	2,409	3,705	5,099	5,338	4,700	4,348	6,262	4,958	5,142	5,429	5,909	6,045	5,680	5,115	6,044	6,560	6,846	6,521	5,945	5,761	6,317	6,192	6,748	5,779	-1,089	7,125	6,625	6,434	-4,028	8,894	7,693	8,161	7,991	8,153	9,857	8,787	6,784	1,975
Net revenues
236,168	278,871	200,735	172,418	182,542	203,579	205,951	162,361	169,062	184,780	240,567	197,745	200,529	222,463	200,847	170,483	153,556	197,364	149,617	164,066	161,871	150,548	159,426	170,031	168,133	187,576	128,314	99,772	109,533	140,911	131,505	103,098	113,438	78,582	95,857	132,864	124,780	126,232	116,463	127,653	109,586	119,669	132,290
Non-interest expenses:
Compensation and benefits
188,124	169,619	126,868	102,476	117,127	130,724	133,337	109,256	115,170	151,476	169,469	134,314	134,378	153,842	135,186	117,148	104,436	126,190	96,132	103,554	95,857	93,765	97,180	103,076	100,489	111,933	79,426	65,000	66,105	87,415	78,070	62,601	68,796	48,674	60,505	80,291	75,545	71,215	66,058	77,678	65,096	71,802	79,377
Outside services
8,439	11,320	7,842	8,451	8,571	9,289	8,668	9,632	8,939	6,369	7,495	9,789	10,328	10,366	10,288	10,184	8,451	9,833	9,316	8,885	8,184	9,218	9,155	9,914	8,768	9,237	8,082	8,449	7,214	8,188	6,747	7,225	5,838	6,382	6,263	6,819	8,106	6,581	7,945	7,735	8,004	6,234	7,415
Occupancy and equipment
12,238	10,427	9,594	8,425	8,349	8,459	8,595	8,562	8,578	7,097	8,127	8,257	8,462	9,502	8,743	8,850	7,718	7,510	7,025	6,983	6,783	6,080	8,312	7,061	6,778	6,624	6,509	6,543	5,817	6,783	6,057	6,752	6,862	4,352	6,638	8,992	8,448	5,456	8,853	8,056	7,669	7,703	7,680
Communications
11,634	8,161	7,885	6,849	7,865	5,941	6,839	7,250	8,626	4,405	7,136	7,273	7,616	7,157	7,845	7,294	7,330	6,112	6,234	5,088	6,328	5,684	5,661	5,432	5,955	5,391	5,778	5,030	5,232	4,431	5,276	4,939	5,897	3,712	5,595	6,203	6,611	4,201	5,943	6,199	6,489	5,474	5,430
Marketing and business development
10,039	7,425	6,528	8,089	6,738	6,372	6,260	7,005	7,299	6,161	6,683	8,282	7,547	6,600	7,629	9,171	7,004	8,804	6,965	7,239	6,982	7,473	6,827	6,709	6,251	5,219	5,447	5,957	4,980	4,926	4,259	5,845	4,878	4,646	5,059	6,725	6,210	4,362	5,863	6,095	5,322	5,498	3,419
Deal-related expenses
4,940	7,983	6,387	6,725	4,728	6,232	7,671	6,166	5,051	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Trade execution and clearance
7,151	3,593	3,770	1,017	1,806	1,774	2,049	2,028	2,163	2,302	2,125	1,928	1,811	1,965	2,008	1,916	1,762	1,838	1,982	1,977	1,997	2,094	1,905	1,788	1,834	1,764	2,109	2,247	2,150	2,120	1,825	2,002	2,107	2,097	2,143	2,219	2,466	2,544	2,879	3,307	2,617	2,974	3,232
Restructuring costs
1,902	1,783	6,143	6,395	0	-	0	3,498	-	-	0	0	-	0	0	3,433	6,773	9,156	1,496	0	0	-	0	-	-	-	3,823	-	-	-	0	3,642	-	-	0	-	-	-	1,333	-	-	-	3,572
Goodwill, Impairment Loss
-	-	-	-	-	-	-	-	-	-	114,363	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of Intangible Assets
9,900	1,516	1,229	753	800	-186	1,214	1,215	2,615	-1,288	3,822	3,822	3,822	5,814	8,010	4,094	3,296	2,343	1,773	1,773	1,773	2,318	2,318	2,318	2,318	1,772	2,899	1,661	1,661	1,736	1,736	1,736	1,736	1,049	2,069	2,069	2,069	1,111	2,183	2,204	976	-	-
Back office conversion costs
-	-	-	-	-	-	-	-	-	900	1,293	868	866	561	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating expenses
15,852	3,115	3,454	2,313	3,468	3,196	3,532	2,862	2,583	2,845	2,290	3,345	2,890	3,032	2,687	1,884	3,344	3,094	11,906	2,708	2,675	2,427	2,376	3,316	3,027	2,718	2,181	1,552	-1,794	2,530	2,183	2,701	2,102	1,357	2,457	2,412	3,791	1,785	2,116	4,618	4,258	4,402	3,747
Noninterest Expense
270,197	224,989	179,700	151,493	159,405	171,801	178,165	157,474	161,024	65,904	322,803	177,878	177,720	281,739	182,396	163,974	150,114	174,880	142,829	138,207	130,579	129,059	133,734	139,614	135,420	145,524	116,254	96,439	91,365	118,129	106,153	97,443	98,216	192,567	90,729	115,730	113,246	106,621	103,173	115,892	100,431	104,087	113,872
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
-34,029	53,882	21,035	20,925	23,137	31,778	27,786	4,887	8,038	118,876	-82,236	19,867	22,809	-59,276	18,451	6,509	3,442	22,484	6,788	25,859	31,292	21,489	25,692	30,417	32,713	42,052	12,060	3,333	18,168	22,782	25,352	5,655	15,222	-113,985	5,128	17,134	11,534	19,611	13,290	11,761	9,155	15,582	18,418
Income tax expense/(benefit)
-11,800	13,848	6,717	-200	4,200	13,125	6,902	600	-2,581	80,720	-31,423	4,906	-395	-25,895	6,515	1,996	256	7,336	1,573	9,542	9,490	7,514	8,596	10,049	9,827	10,260	2,886	1,644	5,600	7,422	10,194	-5,699	7,553	-2,343	1,361	5,987	4,115	12,536	6,524	4,458	8,645	6,316	6,842
Income/(loss) from continuing operations
-22,255	40,034	14,318	21,105	18,945	-	20,884	4,328	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31,792	9,174	1,689	12,568	15,360	15,158	11,354	7,669	-	3,767	-	-	-	-	-	-	-	-
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent
0	0	26,077	-2,166	-139	-	1,386	364	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-818	-1,529	-1,871	-521	-3,741	5,171	-3,934	-3,303	-	-7,143	-	-	-	-	-	-	-	-
Loss from discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-818	-1,529	-1,871	-521	-3,741	5,171	-3,934	-3,303	-	-7,143	-	-	-	-	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-22,255	40,034	40,395	18,939	18,806	18,249	22,270	4,692	10,619	-46,904	-50,813	14,961	23,204	-33,381	11,936	4,513	3,186	15,148	5,215	16,317	21,802	13,975	17,096	20,368	22,886	30,974	7,645	-182	12,047	11,619	20,329	7,420	4,366	-115,747	-3,376	11,147	7,419	-	6,766	7,303	-	-	-
Net loss applicable to noncontrolling interests
-7,528	1,376	-2,847	8,550	-616	65	247	-1,534	16	-830	-1,100	1,388	2,929	3,604	1,278	2,575	749	1,875	384	-682	4,830	1,432	2,428	2,155	5,138	3,840	2,323	-2,670	1,901	-205	665	569	1,437	617	207	453	186	-	-288	-75	-	-	-
Net Income (Loss) Attributable to Parent
-14,727	38,658	43,242	10,389	19,422	18,184	22,023	6,226	10,603	-46,074	-49,713	13,573	20,275	-36,985	10,658	1,938	2,437	13,273	4,831	16,999	16,972	12,543	14,668	18,213	17,748	27,134	5,322	2,488	10,146	11,824	19,664	6,851	2,929	-116,364	-3,583	10,694	7,233	9,420	7,054	7,378	510	9,266	11,576
Net Income (Loss) Available to Common Stockholders, Diluted
-14,727	38,006	42,442	10,151	17,835	18,659	19,377	5,522	6,435	-42,810	-50,415	11,522	16,828	-34,235	8,582	1,577	2,124	12,103	4,448	15,699	15,810	11,783	13,552	16,717	16,089	24,538	4,826	2,266	8,966	10,125	16,840	5,890	2,480	-112,908	-3,583	8,760	5,711	7,393	5,415	5,712	409	7,576	9,475
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent
-14,727	38,658	17,165	12,555	19,561	-	20,637	5,862	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27,952	6,851	4,359	10,667	15,565	14,493	10,785	6,232	-	3,560	-	-	-	-	-	-	-	-
Net loss from discontinued operations
0	0	26,077	-	-139	-	1,386	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
-14,727	38,658	43,242	10,389	19,422	18,184	22,023	6,226	10,603	-46,074	-49,713	13,573	20,275	-	10,658	1,938	-	-	-	-	-	-	-	-	-	-	5,322	2,488	10,146	-	19,664	6,851	2,929	-116,364	-3,583	10,694	7,233	9,420	7,054	7,378	510	9,266	11,576
Earnings Per Share, Basic [Abstract]
Income/(loss) from continuing operations (in dollars per share)
-1.07	2.77	1.23	0.90	1.36	-	1.36	0.40	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.71	0.42	0.25	0.60	0.85	0.82	0.58	0.33	-	0.22	-	-	-	-	-	-	-	-
Loss from discontinued operations (in dollars per share)
0.00	0.00	1.87	-0.15	-0.01	-	0.09	0.03	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.05	-0.09	-0.11	-0.03	-0.23	0.29	-0.21	-0.17	-	-0.45	-	-	-	-	-	-	-	-
Earnings/(loss) per basic common share (in dollars per share)
-1.07	2.77	3.09	0.75	1.35	1.43	1.45	0.43	0.47	-3.38	-3.91	0.89	1.33	-2.71	0.70	0.12	0.16	0.91	0.32	1.08	1.03	0.76	0.90	1.12	1.10	1.64	0.33	0.15	0.58	0.63	1.11	0.37	0.15	-7.21	-0.23	0.55	0.38	0.48	0.36	0.36	0.03	0.47	0.59
Earnings Per Share, Diluted [Abstract]
Income/(loss) from continuing operations (in dollars per share)
-1.07	2.70	1.20	0.87	1.33	-	1.34	0.40	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.71	0.42	0.25	0.60	0.85	0.82	0.58	0.33	-	0.22	-	-	-	-	-	-	-	-
Loss from discontinued operations (in dollars per share)
0.00	0.00	1.82	-0.15	-0.01	-	0.09	0.03	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.05	-0.09	-0.11	-0.03	-0.23	0.29	-0.21	-0.17	-	-0.45	-	-	-	-	-	-	-	-
Earnings/(loss) per diluted common share (in dollars per share)
-1.07	2.70	3.01	0.72	1.32	1.39	1.43	0.43	0.47	-3.28	-3.91	0.89	1.31	-2.71	0.70	0.12	0.16	0.91	0.32	1.08	1.03	0.76	0.90	1.11	1.10	1.65	0.33	0.15	0.57	0.63	1.11	0.37	0.15	-7.21	-0.23	0.55	0.38	0.48	0.36	0.36	0.03	0.47	0.59
Dividends declared per common share (in dollars per share)
1.13	0.37	0.38	0.38	1.39	0.36	0.38	0.38	2.00	0.31	0.31	0.31	0.31	0.00	0.00	0.00	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Weighted Average Number of Shares Outstanding, Basic
13,796	13,714	13,708	13,588	13,204	13,194	13,343	13,303	13,096	12,910	12,898	12,826	12,594	12,327	12,282	12,927	13,160	13,753	13,938	14,487	15,294	15,248	15,066	14,958	14,612	14,360	14,621	15,621	15,582	15,246	15,210	15,932	16,072	15,782	15,889	15,840	15,177	14,619	15,035	15,901	15,837	16,031	16,104
Weighted Average Number of Shares Outstanding, Diluted
14,411	14,100	14,085	14,024	13,530	13,372	13,508	13,438	13,382	13,078	12,975	12,937	12,922	12,704	12,298	12,942	13,172	13,759	13,952	14,513	15,332	15,301	15,129	15,013	14,657	14,382	14,626	15,626	15,610	15,250	15,210	15,932	16,072	15,730	15,889	15,845	15,224	14,625	15,038	15,925	15,924	16,131	16,117