Piper Sandler Companies (PIPR) Q1 FY2024 earnings: revenue $343 million, up 15.2% on the year

Piper Sandler Companies (PIPR) reported revenue of $343 million for Q1 FY2024, the quarter ended 31 March 2024, up 15.2% on the same quarter a year earlier. Net income was $42 million, up 65.8% on the year, and diluted earnings per share $0.61. The figures are the company's own, from the 10-Q it filed with the SEC on 7 May 2024.

Revenue$343 millionup 15.2%

Net income$42 millionup 65.8%

Diluted EPS$0.61

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	343	472	n/a	n/a
Pre-tax income	52.4	85.8	n/a	n/a
Income tax	2.8	21.3	n/a	n/a
Effective tax rate	5.4%	24.8%	n/a
Net income	42.5	52.0	n/a	n/a
Net margin	12.4%	11.0%	n/a
Diluted EPS	$0.61	$0.75	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	-197	423	n/a	n/a
Capital expenditure	1.3	1.8	n/a	n/a
Free cash flow	-198	421	n/a	n/a
Free cash flow margin	-57.9%	89.3%	n/a
Cash from investing	-1.3	-1.8	n/a	n/a
Cash from financing	-114	-91.2	n/a	n/a
Depreciation and amortisation	6.6	9.2	n/a	n/a
Share-based compensation	26.8	31.0	n/a	n/a
Buybacks	52.1	3.1	n/a	n/a
Dividends paid	35.7	10.2	n/a	n/a
Dividend per share	$0.40	$0.15	n/a	n/a
Diluted shares, weighted	70m	69m	n/a	n/a
Shares outstanding at period end	63m	61m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	1,101	1,085	n/a	n/a
Non-controlling interest	224	214	n/a	n/a
Short-term borrowings	0.0	30.0	n/a	n/a
Debt	n/a	0.0	n/a	n/a
Other liabilities	497	812	n/a	n/a
Total liabilities and equity	1,822	2,141	n/a	n/a
Fixed assets	57.7	60.8	n/a	n/a
Goodwill	302	302	n/a	n/a
Intangible assets	114	116	n/a	n/a
Cash and equivalents	70.0	383	n/a	n/a
Other assets	1,279	1,279	n/a	n/a
Total assets	1,822	2,141	n/a	n/a

Questions

What was Piper Sandler Companies' revenue in Q1 FY2024?

Piper Sandler Companies (PIPR) reported revenue of $343 million for Q1 FY2024, the quarter ended 31 March 2024, up 15.2% on the same quarter a year earlier.

How much did Piper Sandler Companies earn in Q1 FY2024?

Net income for Q1 FY2024 was $42 million, up 65.8% on the year, and diluted earnings per share $0.61.

When did Piper Sandler Companies report Q1 FY2024 results?

Piper Sandler Companies filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 7 May 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026
Revenue	289	472	343	339	360	484	357	397	479	666	474	496
Pre-tax income	-3.5	85.8	52.4	28.2	55.6	82.1	29.4	48.9	107	189	87.9	100
Tax rate	n/a	25%	5%	47%	27%	36%	-25%	35%	23%	24%	22%	30%
Net income	3.9	52.0	42.5	34.8	34.8	69.1	64.9	42.2	60.3	114	65.2	67.8
Net margin	1%	11%	12%	10%	10%	14%	18%	11%	13%	17%	14%	14%
Diluted EPS	$0.06	$0.75	$0.61	$0.49	$0.49	$0.96	$0.91	$0.59	$0.84	$1.60	$0.92	$0.95
Operating cash flow	27.3	423	-197	266	80.1	164	-207	32.1	31.9	730	-292	36.3
Capital expenditure	3.6	1.8	1.3	3.4	2.5	8.4	11.1	14.2	6.0	3.3	2.2	7.8
Free cash flow	23.7	421	-198	263	77.7	155	-218	17.9	25.9	726	-294	28.5
Buybacks	3.9	3.1	52.1	5.5	2.4	6.5	80.6	20.9	3.7	19.8	69.9	31.0
Dividends paid	10.1	10.2	35.7	14.8	10.7	12.6	70.3	17.1	11.9	14.9	101	13.8
Shares outstanding	60m	61m	63m	64m	64m	64m	66m	67m	67m	67m	68m	68m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 7 May 2024, accession 0001230245-24-000083: the filing on EDGAR. All of Piper Sandler Companies's filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install