Broadridge Financial (BR) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Broadridge Financial Solutions (BR) reported $1.43 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 11.5%. EPS of $1.09 for the same period compares to $0.84 a year ago.
The reported revenue represents a surprise of +4.14% over the Zacks Consensus Estimate of $1.37 billion. With the consensus EPS estimate being $0.94, the EPS surprise was +15.96%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Broadridge Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net revenues- Investor Communication Solutions: $1.03 billion versus $993.40 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.7% change.
Net Revenues- Global Technology and Operations: $402.40 million compared to the $379.61 million average estimate based on four analysts. The reported number represents a change of +11% year over year.
Total ICS Event- Driven Fee Revenues: $86.90 million versus the three-analyst average estimate of $57.14 million. The reported number represents a year-over-year change of +38.6%.
Distribution Revenues: $473 million versus $436.61 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +14% change.
Total ICS Recurring Fee Revenue- Regulatory: $179.40 million compared to the $201.65 million average estimate based on three analysts. The reported number represents a change of +5% year over year.
Total ICS Recurring Fee Revenues- Data- driven fund solutions: $101.80 million compared to the $98.50 million average estimate based on three analysts. The reported number represents a change of +10.1% year over year.
Total ICS Recurring Fee Revenues: $468.80 million versus $498.12 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.8% change.
Total ICS Recurring Fee Revenues- Customer communications: $159.10 million versus $164.50 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +2.1% change.
Total GTO Recurring Fee Revenues- Capital markets: $248.50 million versus the three-analyst average estimate of $232.39 million. The reported number represents a year-over-year change of +9.6%.
Total GTO Recurring Fee Revenues- Wealth and investment management: $153.90 million versus the three-analyst average estimate of $143.76 million. The reported number represents a year-over-year change of +13.2%.
Total ICS Event- Driven Fee Revenues- Mutual funds: $46.10 million compared to the $27.76 million average estimate based on three analysts. The reported number represents a change of +38.9% year over year.
Total ICS Event- Driven Fee Revenues- Equity and other: $40.80 million versus the three-analyst average estimate of $29.38 million. The reported number represents a year-over-year change of +38.3%.
View all Key Company Metrics for Broadridge Financial here>>>
Shares of Broadridge Financial have returned -5% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report
