Published on 26 Apr 2024 on GuruFocus.com via Yahoo Finance
Oppenheimer Holdings Inc. Reports Substantial Earnings Growth in Q1 2024
Net Income: $26.1M, up 78.2% from $14.6M in the first quarter of 2023.Revenue: $353.1M, increased by 9.8% compared to $321.7M in the previous year's first quarter.Earnings Per Share (Basic): $2.50, a significant rise from $1.32 in the first quarter of 2023.Assets Under Management: Reached a record high of $46.6 billion, reflecting strong market appreciation and positive net asset flows.Book Value Per Share: Rose to a record $77.47, supported by positive earnings and strategic share repurchases.Compensation Expenses: Increased to $221.7M, up from $206.3M in the first quarter of 2023, influenced by higher salary expenses and production-related costs.Pre-Tax Income: More than doubled to $37.5M from $19.0M in the prior year, showcasing robust overall financial performance.
Warning! GuruFocus has detected 2 Warning Sign with OPY.