Achieved Record Revenue in 2018
Continued Strength in Investment Banking and Brokerage

New York, NY – February 14, 2019 – Cowen Inc. (NASDAQ: COWN) (“Cowen” or “the Company”) today announced its operating results for the fourth quarter and full year ended December 31, 2018.

GAAP

  • Full year 2018 revenue rose 47% to $966.9 million. Fourth quarter 2018 revenue was $259.9 million
  • Net income attributable to common stockholders was $36.0 million, or $1.17 per diluted common share for the full year 2018. Fourth quarter 2018 net income was $3.4 million or $0.11 per diluted common share

Economic Income (Non – GAAP)

  • Full year 2018 revenue increased 37% to $909.5 million from $666.2 million. For the fourth quarter 2018, revenue was $207.4 million
  • Economic income attributable to Cowen Inc. was $76.1 million for the full year 2018. For the fourth quarter 2018, economic income was $7.7 million
  • Economic income (loss) attributable to common stockholders was $69.3 million or $2.26 per common diluted share for the full year 2018. Fourth quarter 2018, economic income (loss) attributable to common stockholders was $6.0 million or $0.19 per diluted common share compared to an economic loss of $11.1 million or $(0.36) per diluted common share.

Please click here to view Cowen’s fourth quarter and full year 2018 financial results.

A replay of the call will be available beginning at 12:00 pm ET February 14, 2019 through 12:00 pm ET February 21, 2019.

U.S. replay dial-in: 1-(855) 859-2056
International replay dial-in: 1-(404) 537-3406
Replay ID: 4199795

 

About Cowen Inc.

Cowen Inc. (“Cowen” or the “Company”) is a diversified financial services firm that operates through two business segments: a broker dealer and an investment management division.  The company’s broker dealer division offers investment banking services, equity and credit research, sales and trading, prime brokerage, global clearing and commission management services.  Cowen’s investment management segment offers actively managed alternative investment products.  Cowen Inc. focuses on delivering value-added capabilities to our clients in order to help them outperform.  Founded in 1918, the firm is headquartered in New York and has offices worldwide. Learn more at Cowen.com.

Investor Relations Contacts

Cowen Inc.
Stephen Lasota, Chief Financial Officer, (212) 845-7919
Nancy Wu, (646) 562-1259

Liolios Group, Inc.
Matt Glover, Cody Slach, Najim Mostamand, CFA
949-574-3860
COWN@liolios.com