Broadridge Financial (BR) Reports Q1 Earnings: What Key Metrics Have to Say

Core Viewpoint - Broadridge Financial Solutions reported a revenue of $1.42 billion for the quarter ended September 2024, reflecting a year-over-year decline of 0.6% and an EPS of $1.00, which is a decrease from $1.09 a year ago. The revenue fell short of the Zacks Consensus Estimate by 3.90% [1] Financial Performance Summary - Revenue from Investor Communication Solutions was $1.02 billion, below the average estimate of $1.07 billion, marking a year-over-year decline of 1.3% [3] - Revenue from Global Technology and Operations was $407.20 million, slightly below the average estimate of $411.89 million, with a year-over-year increase of 1.2% [3] - Event-driven revenues from mutual funds within Investor Communication Solutions were $41.90 million, compared to an estimate of $36.24 million, representing a year-over-year decline of 9.1% [3] - Total event-driven revenues in Investor Communication Solutions were $63 million, significantly below the estimate of $73.91 million, reflecting a year-over-year decline of 27.5% [3] - Distribution revenues in Investor Communication Solutions were $459.50 million, below the estimate of $500.50 million, with a year-over-year decline of 2.9% [3] - Recurring revenues from data-driven fund solutions in Investor Communication Solutions were $108 million, slightly above the estimate of $107.98 million, showing a year-over-year increase of 6.1% [3] - Recurring revenues from issuers in Investor Communication Solutions were $30.90 million, exceeding the estimate of $30.28 million, with a year-over-year increase of 8.4% [3] - Recurring revenues from customer communications in Investor Communication Solutions were $164.20 million, slightly below the estimate of $164.67 million, reflecting a year-over-year increase of 3.2% [3] - Recurring revenues from capital markets in Global Technology and Operations were $261 million, in line with the estimate of $261.99 million, showing a year-over-year increase of 5% [3] - Recurring revenues from wealth and investment management in Global Technology and Operations were $146.20 million, below the estimate of $149.86 million, reflecting a year-over-year decline of 5% [3] - Total recurring revenues were $900.30 million, slightly below the estimate of $906.74 million, with a year-over-year increase of 3.3% [3] - Event-driven revenues from equity and other in Investor Communication Solutions were $21.10 million, significantly below the estimate of $37.66 million, representing a year-over-year decline of 48.3% [3] Stock Performance - Broadridge Financial's shares have returned -2.6% over the past month, compared to a -0.5% change in the Zacks S&P 500 composite, with the stock currently holding a Zacks Rank 3 (Hold) [3]