10-K · August 4, 2026
Broadridge delivered a solid FY2026 operating performance, with revenue up 9% to $7.477B, recurring revenue up 8%, and FCF up 17% to $1.233B. GTO provided the key profitability inflection, expanding pre-tax margin to…
Earnings analysis · 10-Q
BR earnings analysis
Filed November 3, 2026 · Our reading of the company's report
The latest report
Broadridge exceeded consensus with $1,668.7 million of revenue and $1.56 of adjusted EPS, while recurring revenue grew 11% and free cash flow increased to $76.3 million year over year. However, GAAP EPS declined 41% to…
Read full summary
Broadridge exceeded consensus with $1,668.7 million of revenue and $1.56 of adjusted EPS, while recurring revenue grew 11% and free cash flow increased to $76.3 million year over year. However, GAAP EPS declined 41% to $0.83 and operating margin fell to 10.4%, reflecting event-driven revenue pressure and other earnings headwinds. Management reaffirmed FY27 targets, including 6%-8% constant-currency recurring revenue growth and 8%-12% adjusted EPS growth, and reported no material changes to the risk factors in its 2026 Annual Report.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.83
- Operating margin
- 10.4%
What stood out
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Revenue beat estimates
Revenue was $1,668.7 million, exceeding the $1,646.4 million consensus estimate by $22.3 million. Revenue increased approximately 5% versus $1.59 billion in the prior-year quarter but declined approximately 25% from $2.22 billion in the immediately preceding quarter.
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Recurring revenue grew 11%
Adjusted EPS was $1.56 versus the $1.37 consensus estimate, a $0.19 beat. Recurring revenue grew 11%, supporting the company’s growth profile.
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FY27 outlook reaffirmed
The company reaffirmed FY27 targets, including recurring revenue growth of 6%-8% in constant currency and adjusted EPS growth of 8%-12%.
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Cash flow improved year over year
Free cash flow was $76.3 million, compared with $13 million in the prior-year quarter and $645 million in the preceding quarter.
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Significant share repurchase authorization
Broadridge repurchased 1,137,696 shares during the quarter at an average price of $175.81. The 2026 authorization permits up to $1.5 billion of repurchases, with $1.3 billion remaining at September 30, 2026.
What to watch
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GAAP earnings and margin contracted
GAAP EPS fell 41% to $0.83, while operating margin declined to 10.4% from 24.6% in the preceding quarter and 11.9% in the prior-year quarter.
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Event-driven revenue volatility
Event-driven revenue in the ICS business pressured quarterly performance, contributing to the sequential revenue decline from $2.22 billion to $1,668.7 million.
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Capital allocation exposure
The company deployed $1,137,696 of share repurchases at an average price of $175.81 while retaining $1.3 billion of authorization capacity, creating ongoing capital-allocation exposure if operating performance weakens.
Management's outlook
FY27 outlook was reaffirmed with no changes: recurring revenue growth of 6%-8% in constant currency, adjusted EPS growth of 8%-12%, adjusted operating margin of approximately 21%, free-cash-flow conversion of 100%+, and closed sales of $290-$330 million.
Earlier filings 4
10-Q · April 30, 2026
Broadridge Financial reported its fiscal Q3 2026 with revenues of $1.954 billion, projecting a notable increase of approximately 7.6% from the prior quarter and a year-over-year growth of 7%. Gross margins improved to…
10-Q · February 3, 2026
Broadridge reported quarterly revenue of $1,713.9M and diluted EPS of $2.42 for the three months ended December 31, 2025 (fiscal Q2), beating consensus. Net earnings rose to $284.6M from $142.4M a year earlier, driven…
10-Q · November 4, 2025
Broadridge reported quarterly revenue of $1,589.4 million and diluted EPS of $1.40 for the three months ended September 30, 2025, up versus the prior year. Operating income improved to $188.8 million (11.9% operating…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.