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Broadridge Financial (BR) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2023, Broadridge Financial Solutions (BR - Free Report) reported revenue of $1.65 billion, up 7.3% over the same period last year. EPS came in at $2.05, compared to $1.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.65 billion, representing a surprise of -0.53%. The company delivered an EPS surprise of +1.99%, with the consensus EPS estimate being $2.01.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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- Global Technology and Operations: $388.50 million versus the four-analyst average estimate of $403.95 million. The reported number represents a year-over-year change of +1.8%.
Total ICS Recurring Fee Revenues: $693.50 million versus $671.31 million estimated by four analysts on average.
Total ICS Event- Driven Fee Revenues- Equity and other: $29.20 million versus $31.93 million estimated by four analysts on average.
Total ICS Event- Driven Fee Revenues- Mutual funds: $22.60 million versus $28.99 million estimated by four analysts on average.
Total ICS Event- Driven Fee Revenues: $51.80 million versus $60.92 million estimated by four analysts on average.
Distribution Revenues: $511.90 million versus the four-analyst average estimate of $522.74 million.
Net revenues- Investor Communication Solutions: $1.26 billion compared to the $1.25 billion average estimate based on four analysts. The reported number represents a change of +8.3% year over year.
Total ICS Recurring Fee Revenues- Data- driven fund solutions: $102 million compared to the $101.51 million average estimate based on four analysts.
Total ICS Recurring Fee Revenues- Issuer: $57.70 million versus $52.69 million estimated by four analysts on average.
Total ICS Recurring Fee Revenues- Customer communications: $188 million versus the four-analyst average estimate of $171.28 million.
Total GTO Recurring Fee Revenues- Capital markets: $245.80 million versus the four-analyst average estimate of $255.76 million.
Total GTO Recurring fee revenues- Wealth and investment management: $142.70 million versus the four-analyst average estimate of $148.19 million.
Shares of Broadridge Financial have returned -0.7% over the past month versus the Zacks S&P 500 composite's +1.5% 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 (BR) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended March 2023, Broadridge Financial Solutions (BR - Free Report) reported revenue of $1.65 billion, up 7.3% over the same period last year. EPS came in at $2.05, compared to $1.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.65 billion, representing a surprise of -0.53%. The company delivered an EPS surprise of +1.99%, with the consensus EPS estimate being $2.01.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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- Global Technology and Operations: $388.50 million versus the four-analyst average estimate of $403.95 million. The reported number represents a year-over-year change of +1.8%.
- Total ICS Recurring Fee Revenues: $693.50 million versus $671.31 million estimated by four analysts on average.
- Total ICS Event- Driven Fee Revenues- Equity and other: $29.20 million versus $31.93 million estimated by four analysts on average.
- Total ICS Event- Driven Fee Revenues- Mutual funds: $22.60 million versus $28.99 million estimated by four analysts on average.
- Total ICS Event- Driven Fee Revenues: $51.80 million versus $60.92 million estimated by four analysts on average.
- Distribution Revenues: $511.90 million versus the four-analyst average estimate of $522.74 million.
- Net revenues- Investor Communication Solutions: $1.26 billion compared to the $1.25 billion average estimate based on four analysts. The reported number represents a change of +8.3% year over year.
- Total ICS Recurring Fee Revenues- Data- driven fund solutions: $102 million compared to the $101.51 million average estimate based on four analysts.
- Total ICS Recurring Fee Revenues- Issuer: $57.70 million versus $52.69 million estimated by four analysts on average.
- Total ICS Recurring Fee Revenues- Customer communications: $188 million versus the four-analyst average estimate of $171.28 million.
- Total GTO Recurring Fee Revenues- Capital markets: $245.80 million versus the four-analyst average estimate of $255.76 million.
- Total GTO Recurring fee revenues- Wealth and investment management: $142.70 million versus the four-analyst average estimate of $148.19 million.
View all Key Company Metrics for Broadridge Financial here>>>Shares of Broadridge Financial have returned -0.7% over the past month versus the Zacks S&P 500 composite's +1.5% 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.