PIPER SANDLER COMPANIES (PIPR) Company Report

Lineage Inc. is addressing financial challenges by having its subsidiary, Lineage Europe Finco B.V., issue euro-denominated senior notes through a private placement.
The proceeds from these notes will primarily be used to repay amounts outstanding under the company's revolving credit facility and support general corporate and working capital needs.
Despite significant revenue growth, Lineage Inc. faces profitability challenges, reflected in a negative net margin of around -3.3% and a distress-level Altman Z-Score.
Analysts have issued a 'Sell' rating for LINE stock, citing challenges such as a negative P/E ratio and increased interest expenses.

Nov 19, 2025, 1:56 PM

Morningstar

TSS Acquires Sand Revolution

PIPR

M&A

New Projects/Investments

Total Sand Solution (TSS) has acquired Sand Revolution, a Midland, Texas-based provider of trucking, logistics, and delivery solutions.
This strategic combination materially expands TSS’s market share and geographic coverage in the Permian and Eagle Ford Basins, positioning TSS as the largest independent logistics provider in the country with the capacity to deliver over 25 million tons of proppant per year.
Piper Sandler Companies served as the exclusive financial advisor to TSS for this acquisition.

Nov 6, 2025, 7:26 PM

Press Release

Xeris Biopharma Reports Record Third Quarter 2025 Financial Results and Updates Full-Year Guidance

PIPR

Earnings

Guidance Update

Revenue Acceleration/Inflection

Xeris Biopharma reported a 40% year-over-year increase in total product revenue, reaching $74 million for the third quarter of 2025.
Recorlev® revenue significantly grew by 109% year-over-year to $37 million in Q3 2025.
The company updated its full-year 2025 total revenue guidance to $285-$290 million, an increase from the previous guidance of $280-$290 million.
For Q3 2025, Xeris Biopharma achieved a net income of $0.6 million, a substantial improvement from a net loss of $15.7 million in the prior year period.
Adjusted EBITDA for the third quarter of 2025 was $17.4 million, marking a $20.1 million improvement compared to Q3 2024.

Nov 6, 2025, 12:00 PM

Press Release

Piper Sandler Reports Strong LTM 3Q 2025 Financial Performance and Strategic Expansion

PIPR

Earnings

Revenue Acceleration/Inflection

Dividends

Piper Sandler reported LTM 3Q 2025 adjusted net revenues of $1.7 billion and adjusted diluted EPS of $14.00, demonstrating an 11% compound annual growth rate (CAGR) in net revenues since 2015 and an increase in operating margin from 10% in 2015 to 22% LTM 3Q 2025.
The company has returned $522 million through share repurchases and $492 million through dividends paid since 2019, maintaining a 38% dividend payout ratio over the last five years.
Strategic growth initiatives include 10 acquisitions since 2015 and significant expansion in Investment Banking, with revenues growing from $310 million in 2015 to $1.1 billion LTM 3Q 2025, representing a 13% CAGR.
Piper Sandler emphasizes a diversified platform across business lines, sectors, products, and clients, with a focus on market leadership and expanding non-M&A capabilities such as Equity Capital Markets, Debt Capital Markets Advisory, Private Capital & GP Advisory, and Restructuring & Special Situations.

Oct 31, 2025, 12:00 PM

Presentation

Piper Sandler Companies Announces Strong Q3 2025 Financial Results

PIPR

Earnings

Guidance Update

Dividends

Piper Sandler Companies reported strong Q3 2025 adjusted net revenues of $455 million, an increase of 29% year-over-year, with an operating margin of 21.2% and adjusted EPS of $3.82.
Corporate Investment Banking revenues were $292 million, including $212 million in advisory (up 13% year-over-year) and $80 million in corporate financing, the strongest quarterly result since 2021. This performance was driven by strong financial services and healthcare franchises, with the company advising on the largest U.S. bank M&A deal closed in 2025.
For Q4 2025, advisory revenues are expected to be similar to last year's fourth quarter, while corporate financing revenues are anticipated to moderate from the strong third quarter. Public finance revenues for Q3 2025 were $39 million (up 8% year-over-year) and fixed income revenues were $56 million (up 15% year-over-year).
The company returned $16 million to shareholders in Q3 2025 and $204 million year-to-date, and the board approved a quarterly cash dividend of $0.70 per share.

Oct 31, 2025, 12:00 PM

Transcript

Piper Sandler Reports Strong Q3 2025 Financial Results

PIPR

Earnings

Guidance Update

Dividends

Piper Sandler Companies reported strong third quarter 2025 adjusted net revenues of $455 million, an operating margin of 21.2%, and adjusted EPS of $3.82, all representing year-over-year increases.
Corporate Investment Banking revenues reached $292 million in Q3 2025, with advisory revenues up 13% year-over-year to $212 million and corporate financing revenues at $80 million, marking its strongest quarterly result since 2021.
Other business segments also performed well, with Public Finance revenues at $39 million (up 8% year-over-year) and Fixed Income revenues at $56 million (up 15% from the year-ago period) for Q3 2025.
For the fourth quarter of 2025, the company expects advisory revenues to be similar to last year's fourth quarter, while corporate financing revenues are anticipated to moderate from the strong third quarter, and public finance revenues are projected to be similar to Q3.
The company returned $16 million to shareholders in Q3 2025 and a total of $204 million year-to-date, including $105 million in share repurchases and $99 million in dividends, with a new quarterly cash dividend of $0.70 per share approved.

Oct 31, 2025, 12:00 PM

Transcript

Piper Sandler Reports Strong Q3 2025 Results with Revenue Growth and Increased Investment Banking Activity

PIPR

Earnings

Revenue Acceleration/Inflection

M&A

Piper Sandler reported adjusted net revenues of $455 million and adjusted diluted EPS of $3.82 for the third quarter of 2025, marking eight consecutive quarters of year-over-year growth. Net revenues increased 29% over the third quarter of last year.
Corporate investment banking revenues reached $292 million, driven by a 13% year-over-year increase in advisory revenues to $212 million due to a resurgence in bank M&A activity, and $80 million in corporate financing revenues, the strongest quarterly results since 2021.
The company continues to invest in its technology group, adding eight new Managing Directors this year, including three from the G-Squared acquisition. The advisory pipeline is robust, with Q4 2025 advisory revenues expected to be similar to last year's fourth quarter.
Piper Sandler returned an aggregate of $204 million to shareholders year-to-date 2025, including $105 million from repurchases of approximately 362,000 shares and $99 million in dividends. The board approved a quarterly cash dividend of $0.70 per share.

Oct 31, 2025, 12:00 PM

Transcript

Piper Sandler Companies Announces Record Third Quarter 2025 Results and Dividend Declaration

PIPR

Earnings

Dividends

M&A

Piper Sandler Companies reported record third quarter 2025 net revenues of $479 million (U.S. GAAP) and $455 million (adjusted), driven by increased equity financings.
For Q3 2025, U.S. GAAP earnings per diluted common share were $3.38, and adjusted earnings per diluted common share were $3.82.
The company completed the acquisition of G Squared Capital Partners on September 12, 2025, enhancing its technology investment banking group with coverage in government services and defense technology.
A quarterly cash dividend of $0.70 per share was declared on October 31, 2025, payable on December 12, 2025.
The company returned an aggregate of $204 million to shareholders through share repurchases and dividends during the first nine months of 2025.

Oct 31, 2025, 11:03 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for PIPER SANDLER COMPANIES.

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What did Chad R. Abraham say about margins?What are PIPER SANDLER COMPANIES's strategic priorities?How is PIPER SANDLER COMPANIES positioned vs competitors?How did PIPER SANDLER COMPANIES do last quarter?

Let Fintool AI Agent track PIPER SANDLER COMPANIES's earnings for you

Get instant analysis when filings drop