Broadridge Financial Solutions (BR) Q1 2027 earnings summary

Executive summary

• Recurring revenue grew 11% in constant currency, including 9% organic growth; total revenue rose 5% to $1,668.7M.

• Adjusted EPS rose 3% to $1.56 and closed sales increased 10% to $36M; FY27 guidance was reaffirmed.

• Priorities include digital engagement, tokenization and scaling agentic AI across governance, capital markets and wealth management.

Financial highlights

• Revenue was $1,668.7M, up 5%; recurring revenue was $1,083.1M, up 11% constant currency, while event-driven revenue fell 41% to $67.4M.

• Adjusted operating income fell 9% to $229.6M; adjusted EPS rose to $1.56 from $1.51.

• GAAP operating income declined 8% to $173.5M; net earnings fell 43% to $94.8M and diluted EPS was $0.83 versus $1.40.

• Free cash flow increased to $76.3M from $12.7M; operating cash flow was $93.2M versus $42.3M.

• Distribution revenue rose 4% to $518.2M.

Outlook and guidance

• FY27 guidance reaffirmed: recurring revenue growth of 6%-8% constant currency, adjusted operating margin of ~21%, and adjusted EPS growth of 8%-12%.

• FY27 closed-sales guidance remains $290M-$330M; free cash flow conversion guidance is 100%+.

• Q2 EPS is expected to equal 12%-14% of FY results as recurring growth is offset by normalized event-driven revenue and tax rate.

• Event-driven revenue is expected to be $60M-$70M per quarter for the rest of FY27.

• FY27 equity-position growth is expected at a low-double-digit rate; fund-position growth is expected at a high-single-digit rate for the balance of the year.