Oppenheimer Q3 net income falls 75% to $5.5M on $70M litigation settlement and weak capital markets

Filed October 30, 2026 · Period ending September 30, 2026 · Compared to 10-Q Oct 31, 2025 · ~2 min read

Key Changes

• high

  Net income fell 74.9% to $5.5 million, or $0.47 diluted EPS, from $21.7 million a year earlier, as revenue declined 10.0% to $382.0 million.

  MD&A: Earnings verify on EDGAR →
• high

  Capital Markets swung to a $9.9 million pre-tax loss from a $12.3 million profit, driven by an 82% drop in equities underwriting fees and a 60.3% decline in investment banking revenue.

  MD&A: Capital Markets verify on EDGAR →
• high

  The company recorded a $70 million pre-tax expense for the cash sweep litigation settlement, which drove operating cash flow to a $112.7 million use of cash for the nine months ended September 30, 2026, versus $11.8 million provided a year earlier.

  MD&A: Cash Flow verify on EDGAR →