WASHINGTON (dpa-AFX) - Broadridge Financial Solutions Inc. (BR), while reporting first-quarter results on Tuesday, reaffirmed positive fiscal 2027 outlook.
Tim Gokey, Broadridge CEO, said, 'Broadridge is driving digital engagement, scaling agentic AI, and accelerating tokenization while delivering strong financial results. ... With a strong start to the year, we are reaffirming our fiscal year 2027 guidance, including 6-8 percent Recurring revenue growth constant currency, 8-12 percent Adjusted EPS growth, Free cash flow conversion of 100 percent+, and strong Closed sales of $290-$330 million.'
In the first quarter, the company's earnings totaled $94.8 million, down from $165.4 million last year. Earnings per share fell 41 percent to $0.83 from $1.40 a year ago.
Adjusted earnings were $177.9 million or $1.56 per share for the period, compared to $178.1 million or $1.51 per share in the prior year.
The company's revenue for the period rose 5.0 percent to $1.669 billion from $1.589 billion last year.
Recurring revenues were $1.083 billion, up 11 percent from last year's $977 million.
Closed sales were $36 million in the quarter, up 10 percent from $33 million in the previous year.
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