Cowen Inc. today announced its operating results for the first quarter ended March 31, 2022. Jeffrey M. Solomon, Chair and Chief Executive Officer of Cowen, said, "The breadth and strength of Cowen's business were on full display in the first quarter, as our team outperformed and delivered for clients despite challenging market conditions.
Reports 4Q21 GAAP Net Income to common stockholders of $63.3 million, or $2.02 per diluted shareEconomic Operating Income of $86.7 million, or $2.77 per.
Cowen Inc. today announced its operating results for the fourth quarter and full year 2021.. Jeffrey M. Solomon, Chair and Chief Executive Officer of Cowen, said, "The strong fourth quarter results capped off our second consecutive record year of revenues and after-tax earnings, demonstrating the sustainability of our business. Record Investment Banking.
Note: Throughout this press release the Company presents non-GAAP financial measures that are not prepared in accordance with accounting principles generally accepted in the United States of America ( US GAAP ). A reconciliation of these non-GAAP measures appears under the section, Reconciliation of US GAAP (Unaudited) to Non-GAAP Measures. 1Q21 Economic Operating Income (Loss) is calculated net of associated taxes as the Company has utilized all available net operating losses during 2020
First Quarter 2021 Operating Financial Highlights
Record Economic Operating Income (Non-GAAP):
$145.6 million, or $4.34 per diluted share, which is after economic income tax expense of $52.8 million for 1Q21 as the Company fully utilized all available net operating losses in 2020