Piper Sandler Companies Reports 13.2% Revenue Growth to $1.53 Billion for Fiscal Year 2024

Piper Sandler Companies reported a significant increase in financial performance for the fiscal year ending December 31, 2024, with net revenues reaching $1.53 billion, a 13.2% increase from $1.35 billion in 2023. The company's net income attributable to Piper Sandler Companies surged to $181.1 million, up 111.9% from $85.5 million in the previous year. This growth was driven by a notable rise in investment banking revenues, which totaled $1.11 billion, reflecting a 19.6% increase compared to $923.8 million in 2023. The earnings per diluted share also saw a substantial rise, reaching $10.24, compared to $4.96 in the prior year.

The company experienced several strategic developments during the year, including the acquisition of Aviditi Capital Advisors, which was completed on August 23, 2024. This acquisition added private capital advisory capabilities to Piper Sandler's platform. Additionally, the number of corporate investment banking managing directors increased by 8.3% to 183, enhancing the firm's sector and product coverage. The public finance business expanded into Missouri, and the fixed income services team was strengthened through the development of algorithmic trading strategies and structured product capabilities.

Operationally, Piper Sandler reported a full-time employee count of 1,805 as of December 31, 2024, with 1,700 based in the U.S. and 105 in international locations. The firm also noted an increase in client activity, particularly in equity brokerage, which benefited from improved market conditions. The company’s engagement metrics indicated a healthy pipeline for advisory services, with 288 completed advisory transactions in 2024, up from 269 in 2023. The firm’s focus on specific sectors, including healthcare and financial services, contributed to its overall performance.

Looking ahead, Piper Sandler anticipates continued growth in 2025, driven by favorable market conditions and an improved regulatory landscape. The company expects its advisory services revenues to grow, supported by a strong pipeline and increased equity and debt financing activity as companies seek to raise capital. However, the firm remains cautious about potential economic uncertainties, including inflationary pressures and geopolitical tensions, which could impact financial market activity. Overall, Piper Sandler's strategic focus on expanding its market presence and enhancing its service offerings positions it well for future growth.