Cohen & Company Q1 revenue more than doubles yr/yr

Cohen & Company

01/05/2026 13:11

Overview

U.S. capital markets firm's Q1 revenue more than doubled yr/yr but fell from prior quarter

Adjusted EPS and net income rose yr/yr but declined from Q4, reflecting lower SPAC activity

Company declared a quarterly dividend of $0.25 per share

Outlook

Company did not provide specific financial guidance for the current or future periods

Result Drivers

INVESTMENT BANKING & CAPITAL MARKETS - Year-on-year revenue growth driven by expansion of client franchise and positive results in investment banking, particularly in digital assets, energy transition, and natural resources, per CEO Lester Brafman

SPAC ACTIVITY IMPACT - Prior quarter revenue and profit benefited from a one-time gain related to the ProCap Financial, Inc. business combination, which did not recur in Q1; principal transactions and other revenue turned negative

GESTATION REPO BUSINESS - Continued growth in gestation repo business, with book size reaching $3.9 bln at quarter end

Company press release: ID:nGNXcWn2c

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$57.90 mln
Q1 Adjusted EPS
$0.65
Q1 EPS
$0.42
Q1 Net Income
attributable to Cohen & Company
$1.49 mln
Q1 Adjusted Pretax Profit
$3.99 mln
Q1 Operating Income
$5.13 mln
Q1 Pretax Profit
$3.27 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)