Broadridge Financial Solutions, Inc. (NYSE: BR) on Tuesday reported results for the fourth quarter of 2023. The financial services provider also issued full-year 2024 guidance.
- Total revenues increased 7% to $1.84 billion in the June quarter from $1.72 billion in the prior year period
- Recurring revenues increased 7% to $1.26 billion in Q4 from $1.78 billion last year; recurring revenue at constant currency grew 8%
- Q4 operating income was $454 million, an increase of $112 million or 33% from the prior-year quarter
- Net earnings increased 31% annually to $324 million in the June quarter; adjusted earnings increased 22% to $382 million
- On a per-share basis, earnings increased 30% to $2.72 in the final three months of 2023 from $2.09 in the prior year period
- On an adjusted basis, earnings per share moved up 21% to $3.21 from $2.65 last year
- For fiscal 2024, the management expects recurring revenue growth of 6-9% and 8-12% adjusted EPS growth