Broadridge Earns 68 Cents per Share

Broadridge Financial Solutions (BR) today reported financial results for the first quarter ended September 30, 2019 of its fiscal year 2020. Results compared with the same period last year were as follows:

“Broadridge reported solid first quarter results and is well-positioned to deliver a strong fiscal year 2020,” said Tim Gokey, Broadridge’s Chief Executive Officer. “Recurring revenues rose 8% and we generated record first quarter Closed sales. We also continued to make targeted M&A investments in each of our core franchises, further positioning us for long-term growth. As expected, event-driven revenues returned to normalized levels from last year’s record first quarter.

“We are reaffirming our fiscal year 2020 guidance, including recurring fee revenue growth of 8-10% and Adjusted EPS growth of 8-12%,” Mr. Gokey added. “Broadridge is well on-track to achieve our three-year objectives laid out at the 2017 Investor Day, including the high end of our Adjusted EPS objectives.”

Posted by on November 6th, 2019 at 7:56 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.