Broadridge (BR) Tops Q3 EPS by 21c

Broadridge (NYSE: BR) reported Q3 EPS of $1.00, $0.21 better than the analyst estimate of $0.79. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.02 billion.

“Broadridge continued its strong performance in the third quarter of 2018. Recurring fee revenue rose 8%, Adjusted Operating income increased 13% and, aided by a lower tax rate, Adjusted EPS grew 45%," said Rich Daly, Broadridge’s Chief Executive Officer. "We are raising our fiscal year 2018 guidance for Adjusted EPS growth to 31-35% from 27-31% and reaffirming our outlook for revenuegrowth and margin expansion."

“As we close out fiscal year 2018, we remain confident that Broadridge is on track to meet the three year financial objectives we laid out at our Investor Day last December. Our discussions with clients remain very active, and the investments we have made over the past several years to strengthen our product line continue to position us well for future growth,” Mr. Daly added.

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

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