Oppenheimer Holdings Inc. filed its quarterly report on Form 10-Q for the period ended September 30, 2026, with the filing submitted on October 30, 2026, disclosing materially lower nine-month earnings compared with the prior-year period, partly driven by a $70 million litigation settlement charge.

Key Highlights

  • Nine-month total revenue: Oppenheimer reported total revenue of $1,281,975 thousand for the nine months ended September 30, 2026, compared with $1,165,441 thousand in the same period of 2025, according to the filing.
  • Settlement charge: Other expenses for the nine months ended September 30, 2026 included a $70 million expense related to the settlement of "cash sweep" program litigation, as disclosed in the filing.
  • Nine-month net income attributable to Oppenheimer Holdings Inc.: $12,232 thousand, compared with $74,041 thousand for the nine months ended September 30, 2025.
  • Diluted earnings per share (nine months): $1.07 attributable to Oppenheimer Holdings Inc., versus $6.53 for the comparable prior-year period.
  • Third-quarter pre-tax income: $8,792 thousand for the three months ended September 30, 2026, compared with $31,635 thousand in Q3 2025.
  • Total assets: $4,088,925 thousand as of September 30, 2026, up from $3,722,415 thousand at December 31, 2025.
  • Shares outstanding: 10,611,540 Class A non-voting common shares and 99,665 Class B voting common shares as of October 29, 2026.

Cash Sweep Settlement and Financial Results for Oppenheimer Holdings Through September 2026

According to the Form 10-Q filed with the SEC on NYSE:OPY, Oppenheimer Holdings Inc., a Delaware-incorporated financial services holding company headquartered at 85 Broad Street, New York, NY, reported nine-month total revenue of $1,281,975 thousand for the period ended September 30, 2026. Revenue sources included commissions of $371,774 thousand, advisory fees of $442,235 thousand, investment banking of $215,246 thousand, and interest income of $116,333 thousand, among others.

Total expenses for the nine-month period reached $1,260,739 thousand, compared with $1,060,220 thousand in the same period of 2025. The filing specifically noted that other expenses for the nine months ended September 30, 2026 included a $70 million expense related to the settlement of "cash sweep" program litigation, referenced in Note 13 of the financial statements. Compensation and related expenses were $867,897 thousand for the nine months, up from $756,387 thousand in the prior-year period. Nine-month pre-tax income was $21,236 thousand versus $105,221 thousand a year earlier.

For the three months ended September 30, 2026, the company reported total revenue of $382,004 thousand and net income of $5,404 thousand, compared with $424,438 thousand and $21,712 thousand, respectively, in Q3 2025. The balance sheet as of September 30, 2026 showed total stockholders' equity of $1,004,221 thousand, with retained earnings of $953,434 thousand. Total liabilities grew to $3,084,704 thousand from $2,725,386 thousand at December 31, 2025, reflecting increased bank call loans and payables to brokers, dealers, and clearing organizations, among other items.

What Was Disclosed

Oppenheimer Holdings filed its unaudited Form 10-Q for the quarterly period ended September 30, 2026, disclosing revenue, expense, and balance sheet figures for the three- and nine-month periods, including a $70 million cash sweep program litigation settlement charge recorded in the nine-month period.