Broadridge (BR) Tops Q4 EPS by 6c, Revenues Beat

Broadridge (NYSE: BR) reported Q4 EPS of $2.15, $0.06 better than the analyst estimate of $2.09. Revenue for the quarter came in at $1.36 billion versus the consensus estimate of $1.32 billion.

"With an exceptional fourth quarter, Broadridge reported strong fiscal year 2020 results including 10% Recurring revenue growth, 8% Adjusted EPS growth, and record closed sales," said Tim Gokey, Broadridge's CEO. "Our full-year performance despite event-driven headwinds and the ongoing pandemic further validates the Broadridge business model and value proposition, and gives us even greater confidence in our long-term opportunity.

"I am especially pleased to report that we have achieved our three-year objectives for Recurring revenue growth, margin expansion, and Adjusted EPS growth," Mr. Gokey added. "Our progress against these goals is a strong indication that our strategic focus on industry solutions for governance, capital markets, and wealth management is on-track.

"Despite macroeconomic uncertainty, our outlook for fiscal 2021 calls for continued organic growth, anchored by a record revenue backlog, and balances cost discipline and increased investment that will position us to take advantage of the recovery and drive long-term growth. To further underscore our confidence in our outlook, we are raising our annual dividend for the fourteenth consecutive year, every year since becoming a public company," Mr. Gokey concluded.

For earnings history and earnings-related data on Broadridge (BR) click here.

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