Piper Sandler Companies (NYSE:PIPR) Q2 2024 Earnings Conference Call August 2, 2024 9:00 AM ET

Company Participants

Kate Winslow - Investor Relations
Chad Abraham - Chairman and Chief Executive Officer
Deb Schoneman - President
Kate Clune - Chief Financial Officer

Conference Call Participants

James Yaro - Goldman Sachs
Devin Ryan - Citizens JMP
Brendan O'Brien - Wolfe Research
Mike Grondahl - Northland Securities
James Yaro - Goldman Sachs

Operator

Good morning, and welcome to the Piper Sandler Company's Second Quarter 2024 Earnings Conference Call. Today's call is being recorded and will include remarks by Piper Sandler management, followed by a question-and-answer session.

I will begin by turning the call over to Kate Winslow. Please go ahead.

Kate Winslow

Thank you, operator. Good morning and thank you for joining the Piper Sandler Company's second quarter 2024 earnings conference call. Hosting the call today are Chairman and CEO, Chad Abraham; our President, Deb Schoneman; and CFO, Kate Clune. Earlier this morning, we issued a press release announcing Piper Sandler's second quarter 2024 financial results, which is available on our website at pipersandler.com/earnings. Today's discussion of the results is complementary to the press release. A replay of this call will also be available at that same website later today.

Before we begin, let me remind you that remarks made on today's call may contain forward-looking statements that are not historical or current facts, including statements about beliefs and expectations, and involve inherent risks and uncertainties. Factors that could cause actual results to differ materially from those anticipated are identified in the company's reports on file with the SEC, which are available on our website at pipersandler.com and on the SEC website at sec.gov.

Today's discussion also includes statements regarding certain non-GAAP financial measures that management believes are meaningful when evaluating the company's performance. The non-GAAP measures should be considered in addition to, and not a substitute for, measures of financial performance prepared in accordance with GAAP. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measure is provided in our earnings release issued today.

I will now turn the call over to Chad.

Chad Abraham

Good morning, everyone. It's great to be with you to talk about our second quarter 2024 results. We delivered strong year-over-year growth, generating adjusted net revenues of $357 million, a 17.3% operating margin, and adjusted EPS of $2.52. Our diversified platform continues to deliver solid profitability and as market conditions continue improving, we are well-positioned for a strong second-half of the year.