Q4 2023 Piper Sandler Companies Earnings Call

Contributing sentiments towards policy:

66% : And my sense was that improvement kind of progressed through fourth quarter.
53% : Excluding reimbursed deal costs, non-compensation expenses totaled $243 million, up 3% compared to 2022, illustrating solid expense management in the face of inflationary pressures and a challenging operating environment.
52% : Income tax expense for the year was reduced by $17 million of tax benefits related to restricted stock vesting.
49% : For the fourth quarter of 2023, our GAAP results included $5.2 million of non-compensation expense related to potential regulatory settlements with the SEC and CFTC regarding record-keeping requirements for business related communication as well as the related legal costs.
41% : During the fourth quarter of 2023, we generated operating income of $99 million and an operating margin of 21.7% for the year, operating income totaled $213 million with an operating margin of 16%, a solid result on an absolute basis, our income tax rate was 26.7% for the fourth quarter of 2023 and 19.9% for the year.

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