Oppenheimer Holdings Q1 2026 Earnings Report with Legal Settlement Impact

Oppenheimer Holdings Inc. reported first quarter 2026 results showing a net loss of $20.6 million ($1.93 per share), a significant decline from net income of $30.7 million ($2.93 per share) in Q1 2025. Revenue increased 21% to $445.1 million. The results were heavily impacted by a $70 million pre-tax legal accrual for settling the "cash sweep" program litigation and a $22.3 million expense from stock-based compensation tied to the company's rising share price. Excluding these items, adjusted net income was $47.5 million ($4.46 per share), up from $28.6 million ($2.74 per share) in the prior year. The company announced an 11.1% dividend increase to $0.20 per share. Wealth Management revenue grew 4.8% to $253.7 million, while Capital Markets revenue surged 53.4% to $189.1 million, driven by strong investment banking performance. Assets under management increased to $54.1 billion from $48.9 billion year-over-year.