Oppenheimer Holdings ( (OPY) ) has released its Q4 earnings. Here is a breakdown of the information Oppenheimer Holdings presented to its investors.
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Oppenheimer Holdings Inc., a leading middle market investment bank and full-service broker-dealer, reported its financial results for the fourth quarter and full year of 2024, highlighting its diverse range of activities in the financial services industry.
The company posted a net income of $10.7 million for the fourth quarter of 2024, a slight decrease from the previous year’s $11.1 million. However, the overall annual performance saw a significant boost, with net income rising to $71.6 million from $30.2 million in 2023. Revenue for 2024 reached $1.4 billion, marking an increase of 14.7% from the previous year, driven by higher advisory fees, transaction-based commissions, and improved investment banking and interest revenue.
Key financial metrics showcased record revenue, assets under management, and stockholders’ equity. The company’s Wealth Management segment, formed by combining Private Client and Asset Management, reported an increase in advisory fees due to market appreciation and reached a new high in assets under management. The Capital Markets segment saw substantial growth in investment banking activities, notably in advisory fees and equities underwriting. However, compensation expenses surged due to stock appreciation rights and incentive compensations.
Looking forward, Oppenheimer Holdings remains optimistic about its future prospects. The firm expects to benefit further as capital markets conditions improve and continues to focus on serving its clients while maintaining strong financial performance.
