Broadridge reports Q1 adjusted EPS $1.00, consensus $1.00

Reports Q1 revenue $1.42B, consensus $1.48B. “Broadridge’s (BR) Q1 results keep us on track to deliver a strong fiscal year 2025,” said CEO Tim Gokey. “In a seasonally small quarter, Recurring revenue constant currency grew 4% and Adjusted EPS was $1.00. Closed sales rose 21%, highlighting continued strong demand for our solutions. We continue to execute on our strategy to democratize and digitize investing, simplify and innovate trading, and modernize wealth management. That execution is driving our results in the form of strong sales, a growing sales pipeline, and continued product innovation. We are raising our FY25 outlook for Recurring revenue growth to 6-8%, reflecting strong organic growth and our recently closed acquisition of SIS. We are also reaffirming our guidance of 8-12% Adjusted EPS growth and strong Closed sales of $290M-330M”.