Broadridge Posts Robust Financial Results for Q1 FY 2022

The global leader in Fintech Broadridge Financial Solutions, Inc. (Broadridge) has released its financials for the first quarter ended September 30, 2021 of its fiscal year 2022, unveiling a strong performance compared with the same period last year.

Total revenues rose YoY 17% to $1,193 million. Operating income came in at $103 million, enjoying an increase of YoY 31%. And operating income margin reached 8.7%, compared with that of the previous year period at 7.7%. Diluted EPS was $0.57 and Adjusted EPS grew 9% to $1.07.

In addition, interest expense, net reached $23 million, up $8 million, driven by higher average debt outstanding. Net earnings increased 2% to $67 million and Adjusted Net earnings increased 10% to $126 million.

"Broadridge reported strong first quarter results," said Tim Gokey, Broadridge's CEO.  "Recurring revenues grew by 16%, propelled by revenue from new sales, continued robust governance trends, and our ongoing integration of Itiviti.

With a strong first quarter, Broadridge is on track to achieve our full-year guidance of 12-15% recurring revenue growth and 11-15% Adjusted EPS growth. We are focused on delivering sustainable, long-term growth across our governance, capital markets and wealth businesses, and we remain well-positioned to achieve the higher end of our three-year growth objectives."