Piper Sandler Cos

Q2 FY2026 EarningsQ2 FY2026 results significantly exceeded consensus expectations across all major financial metrics. Total revenue reached $496.3M, a +11.45% beat against the $445.3M consensus, driven by a 33.9% YoY surge in advisory services. GAAP diluted EPS was $0.95, outperforming the $0.88 consensus by 7.95%, while Adjusted EPS reached $1.04 (+17.91% vs. consensus). Despite a higher-than-expected effective tax rate, strong operating leverage and a recovery in investment income provided substantial tailwinds for bottom-line results.