Oppenheimer Holdings reported October 30 that third-quarter net income fell to $5.5 million from $21.7 million a year earlier, while revenue declined 10% to $382.0 million.
Basic earnings per share decreased to 52 cents from $2.06. Diluted earnings were 47 cents per share, compared with $1.90.
The quarter included a $21 million pretax expense tied to a long-term financial-adviser incentive program linked to the company’s share price. Oppenheimer said changes introduced this year would take several years to be fully reflected in program costs.
Adjusted net income, which excludes that expense, declined to $20.9 million from $31.7 million. The adjusted measure should be distinguished from reported profit.
Management cited lower retail trading activity and reduced advisory and underwriting volumes. Wealth Management revenue nevertheless increased to $266.2 million from $259.7 million, while Capital Markets revenue fell to $114.0 million from $162.1 million.
Assets under management reached $59.6 billion at September 30, compared with $55.1 billion a year earlier. Assets under administration totaled $153.7 billion.
The results cover the quarter ended September 30.
Sources: Company — October 30 Announcement: https://www.prnewswire.com/news-releases/oppenheimer-holdings-inc-reports-third-quarter-2026-earnings-302924237.html