Broadridge Financial Solutions Inc. Earnings Cheat Sheet: Tops Analysts’ Expectations

Wall St. Cheat Sheet

Broadridge Financial Solutions Inc. reported net income above Wall Street’s expectations for the first quarter. Broadridge Financial Solutions is a global provider of investor communication, securities processing, and clearing and outsourcing solutions to the financial services industry.

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Broadridge Financial Solutions Earnings Cheat Sheet for the First Quarter

Results: Net income for Broadridge Financial Solutions Inc. rose to $16.7 million (13 cents per share) vs. $13.3 million (10 cents per share) in the same quarter a year earlier. This marks a rise of 25.6% from the year earlier quarter.

Revenue: Rose 13.2% to $476.4 million from the year earlier quarter.

Actual vs. Wall St. Expectations: BR reported adjusted net income of 15 cents per share. By that measure, the company beat the mean estimate of 11 cents per share. Analysts were expecting revenue of $473.6 million.

Quoting Management: Commenting on the results, Richard J. Daly, Chief Executive Officer, said, “Overall, I am pleased with our first quarter results. Our revenues and earnings were up significantly from last year as our core recurring revenues were strong and we also benefitted from our recent acquisitions. As anticipated in our guidance, event-driven revenues remained weak; however, trade volumes were up for the quarter. It is too early in our fiscal year to determine whether these trends will continue.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the fourth quarter of the last fiscal year, net income rose 10.6% and in the third quarter of the last fiscal year, the figure rose 19.3%.

The company has now topped analyst estimates for the last three quarters. It beat the mark by 3 cents in the fourth quarter of the last fiscal year and by 6 cents in the third quarter of the last fiscal year.

Revenue has now gone up for three straight quarters. In the fourth quarter of the last fiscal year, revenue rose 3.3% to $776.1 million while the figure rose 7.4% in the third quarter of the last fiscal year from the year earlier.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the second quarter is 12 cents per share, down from 16 cents ninety days ago. The average estimate for the fiscal year is $1.50 per share, down from $1.54 ninety days ago.

Competitors to Watch: ExlService Holdings, Inc. , Thomson Reuters Corp. , DST Systems, Inc. , CoreLogic Inc. , WNS (Holdings) Ltd. , Morgan Stanley , Stream Global Services, Inc. , Sykes Enterprises, Inc. , and Innotrac Corporation .

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)

 

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