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Mar 31, 2021
Oppenheimer Q1 2021 Earnings Report
Reported net income and revenue growth driven by strong performance across all business segments.
Key Takeaways
Oppenheimer Holdings Inc. reported a significant increase in net income and revenue for the first quarter of 2021. Net income increased by approximately 400% to $38.7 million, or $3.07 basic earnings per share. Revenue for the quarter was $373.3 million, a 59% increase compared to the same period last year.
Record first quarter gross revenue, net income, and earnings per share were achieved due to a surge in equity underwriting and M&A advisory fees.
The Capital Markets segment reported record revenue and earnings for the first quarter, driven by record investment banking results.
Capital Markets pre-tax profit margin was 27.2%, driven by the strength in investment banking and sales and trading.
Client assets under administration and under management reached record levels as of March 31, 2021.
Revenue by Segment
Forward Guidance
The company anticipates that a large number of its employees will continue to work remotely for the near term and hopes to begin a broader re-entry to its offices later in the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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