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Mar 31, 2023
Oppenheimer Q1 2023 Earnings Report
Reported net income and revenue increased compared to the same quarter last year.
Key Takeaways
Oppenheimer Holdings Inc. reported a strong first quarter in 2023, with a 57.3% increase in net income to $14.6 million and a 20.9% increase in revenue to $321.7 million compared to the first quarter of 2022. The company's performance was driven by growth in interest-sensitive revenues, M&A advisory fees, and sales and trading revenues, which were partially offset by lower client portfolio valuations.
Net income increased by 57.3% year-over-year, reaching $14.6 million.
Revenue increased by 20.9% year-over-year, totaling $321.7 million.
Private Client segment experienced near-record revenues due to higher bank deposit sweep income and margin interest revenue.
The company repurchased 95,055 shares of its Class A non-voting common stock during the quarter.
Revenue by Segment
Forward Guidance
Not applicable, no forward guidance provided in this earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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