Broadridge reaffirms its FY21 financial guidance
Fintech major Broadridge Financial Solutions, Inc. (NYSE:BR) is today hosting its virtual 2020 Investor Day.
As part of its 2020 Investor Day, Broadridge announced its new three-year growth objectives for the period ending Fiscal Year 2023. The growth objectives are shown as compound annual growth rates (“CAGRs”) for the fiscal years 2020-2023.
Broadridge also reaffirmed its Fiscal Year 2021 guidance provided on its fiscal first quarter 2021 conference call on October 30, 2020, including for Recurring revenue growth of 3-6% and Adjusted EPS growth of 6-10%.
Let’s recall that, for the first quarter of its fiscal year 2021, Broadridge posted total revenues of $1,017 million, up 7% from the result of $949 million registered in the prior year period. Currencies negatively impacted revenues by $3 million due to a combination of foreign acquisitions and continued international revenue growth.
Operating income was $79 million, an increase of $5 million, or 8%. Operating income margin was unchanged at 7.7% in the current and prior year periods. Adjusted Operating income was $151 million, an increase of $47 million, or 45%. Adjusted Operating income margin increased to 14.8%, compared to 10.9% for the prior year period.