2023-08-08 07:06:14 ET
- Broadridge Financial Solutions press release ( NYSE: BR ): Q4 Non-GAAP EPS of $3.21 beats by $0.11 .
- Revenue of $1.84B (+7.0% Y/Y) misses by $40M .
- Recurring revenues increased 7% to $1,259 million from $1,177 million. Recurring revenue growth constant currency (Non-GAAP) was 8%, all organic, driven by Net New Business and Internal Growth.
- Event-driven revenues decreased by $11 million, or 15%, to $59 million, primarily due to the decrease in volume of mutual fund proxy communications.
- Distribution revenues increased $45 million, or 9%, to $522 million, driven by the impact of postage rate increases of approximately $35 million.
- Raising annual dividend 10% to $3.20 per share
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Fiscal year 2024 guidance of 6-9% Recurring revenue growth constant currency and 8-12% Adjusted EPS growth
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Broadridge Financial Solutions Non-GAAP EPS of $3.21 beats by $0.11, revenue of $1.84B misses by $40M