Broadridge Earns $1.59 per Share

Reaffirming Fiscal Year 2019 Guidance for Recurring Revenue Growth

Reaffirming Fiscal Year 2019 Guidance for Double-Digit EPS Growth

Raising Fiscal Year 2019 Closed Sales Guidance with Year-to-Date at Record $161 million

Broadridge Financial Solutions (BR) today reported financial results for the third quarter and nine months ended March 31, 2019 of its fiscal year 2019. Results for the three and nine months ended March 31, 2019 compared with the same period last year were as follows:

“After a solid third quarter, Broadridge is very well-positioned to deliver strong full-year results. In addition, we continue to make progress on key growth initiatives including next generation regulatory communications and adding clients to our industry-leading technology platforms,” said Tim Gokey, Broadridge’s President and Chief Executive Officer. “Our sales pipeline remains strong which, combined with our sales over the first three quarters of the year, positions us well for future growth.

“We are raising our full-year Closed sales guidance and reaffirming our fiscal year 2019 guidance for recurring revenue growth and EPS growth. Our ability to deliver double-digit adjusted EPS growth reflects the strength of the Broadridge business model and the growth of our recurring revenue. As we close out fiscal year 2019, we remain confident that we are on track to deliver long-term growth and achieve the three year objectives we laid out at our 2017 Investor Day,” Mr. Gokey added.

Net Earnings and Earnings per Share

For the third quarter of fiscal year 2019:

Net earnings increased 58% to $172 million, compared to $109 million for the prior year period.
Adjusted Net earnings increased 56% to $189 million, compared to $121 million for the prior year period.
Diluted earnings per share increased 61% to $1.45, compared to $0.90 for the prior year period.
Adjusted earnings per share increased 59% to $1.59, compared to $1.00 for the prior year period.

“After a solid third quarter, Broadridge is very well-positioned to deliver strong full-year results. In addition, we continue to make progress on key growth initiatives including next generation regulatory communications and adding clients to our industry-leading technology platforms,” said Tim Gokey, Broadridge’s President and Chief Executive Officer. “Our sales pipeline remains strong which, combined with our sales over the first three quarters of the year, positions us well for future growth.

“We are raising our full-year Closed sales guidance and reaffirming our fiscal year 2019 guidance for recurring revenue growth and EPS growth. Our ability to deliver double-digit adjusted EPS growth reflects the strength of the Broadridge business model and the growth of our recurring revenue. As we close out fiscal year 2019, we remain confident that we are on track to deliver long-term growth and achieve the three year objectives we laid out at our 2017 Investor Day,” Mr. Gokey added.

Posted by on May 7th, 2019 at 7:30 am


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