Oppenheimer Holdings reports Q4 EPS 92c vs. 98c last year

Reports Q4 revenue $375.4M vs. $308.3M last year. AUM;was $49.4B vs. $43.9B last year. CEO Albert Lowenthal commented, “The Firm registered strong results of operations for the full year 2024 on the back of record high revenue generated by our diverse businesses. Our reported results were negatively impacted, with full year expense totaling $32.6M pre-tax, by the increase in our stock price in 2024 and its conversion to expense in certain liability awards previously made to employees, making the recent recognition of our stock by investors, a mixed blessing…Equity markets were led by significant increases in the performance of the “Magnificent Seven,” propelled by the expectation of the impact of A.I. on the economy in future years. Most economic indicators currently suggest that the economy is well on its way to achieving a “soft landing” as we move into 2025…Overall, we are extremely pleased with the accomplishments that we achieved in 2024. We ended the year with record revenue, AUM, stockholders’ equity and book value per share levels, and a significantly de-levered balance sheet after completing the redemption of our Senior Secured Notes earlier in the fourth quarter of 2024. We remain optimistic about our future and look forward to continuing to serve our clients.”