Broadridge reports Q2 adjusted EPS 92c, consensus 89c

Reports Q2 revenue $1.41B, consensus $1.4B. “Broadridge’s second quarter marks continued progress toward the growth objectives we outlined at our Investor Day in December,” said Tim Gokey, Broadridge CEO. “Our results, including 6% organic Recurring revenue growth constant currency, demonstrate continued execution on our goals to democratize and digitize governance, simplify and innovate trading in capital markets, and modernize wealth management. Our focus on driving growth and returns is translating into higher Free cash flow and positions us to return additional capital to shareholders. “We are reaffirming our 2024 guidance including 6-9% Recurring revenue growth constant currency, 8-12% Adjusted EPS growth, and record Closed sales of $280-320 million. As a result, we are off to a strong start in delivering on our three-year growth objectives including annualized growth of 7-9% for Recurring revenues and 8-12% for Adjusted EPS,” Gokey concluded.