Oppenheimer reports Q1 2026 net loss due to $70M legal settlement but posts strong adjusted earnings.

Oppenheimer Holdings reported a net loss of $20.6 million in Q1 2026, impacted by a $70 million legal settlement related to a "cash sweep" litigation and $22.3 million in stock-based compensation expenses. Despite this, adjusted net income rose to $47.5 million, driven by higher revenues from investment banking fees, commissions, and advisory fees amid market volatility. Assets under management increased to $54.1 billion, supporting advisory fees, while the firm raised its quarterly dividend by 11.1%. The company remains focused on client support amid uncertain markets and strong capital position.