Overview
Broadridge Q1 revenue rises 12%, beating analyst expectations
Adjusted EPS for Q1 increases 51%, surpassing analyst estimates
Company raises FY26 recurring revenue growth outlook to higher end of guidance
Outlook
Broadridge raises FY26 recurring revenue growth forecast to higher end of 5-7% range
Company reaffirms FY26 adjusted EPS growth of 8-12%
Broadridge maintains FY26 closed sales guidance at $290-$330 mln
Result Drivers
RECURRING REVENUE GROWTH - Driven by organic growth and acquisitions in ICS and GTO segments
EVENT-DRIVEN REVENUE - Increase due to higher volume of mutual fund proxy communications
STRATEGIC ACQUISITIONS - Two acquisitions made to strengthen governance business
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Beat | $1.58 bln | $1.53 bln (7 Analysts) |
Q1 Adjusted EPS | Beat | $1.51 | $1.23 (8 Analysts) |
Q1 EPS | $1.40 | ||
Q1 Net Income | $165.40 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the professional information services peer group is "buy"
Wall Street's median 12-month price target for Broadridge Financial Solutions Inc is $280.00, about 21% above its November 3 closing price of $221.18
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 27 three months ago
Press Release: ID:nPnlpl85a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)