BR - Earnings call transcript Q3 2024 | Broadridge Financial Solutions, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, and welcome to the Broadridge Financial Solutions Third Quarter and Fiscal Year 2024 Earnings Conference Call. [Operator Instructions]

Please note this event is being recorded.

I would now like to hand the call over to Edings Thibault, Head of Investor Relations. ahead. go Please

W. Thibault

Good Quarter Andrea. and to welcome Thank Year morning, XXXX Third Fiscal Earnings Broadridge's you, everybody, Conference Call.

and on section Our may release the accompany that earnings this be found broadridge.com. the of Relations Investor slides call

morning Joining Tim Chief Chief Officer, Gokey, our are Edmund me and call Reese. Officer; our the Financial on this Executive

summary on slides I on of page involve we'll be One, turn standard few callouts. that be can the Before risks more annual of Broadridge forward-looking these call description today's statements found a risks. second report regarding over our XX-K. on A and to Tim, the complete call making Form on a the

complete be non-GAAP comparable operating to several underlying in also these believe results. presentation. measures, An we'll release explanation provide can measures measures referring the their of a to understanding earnings and reconciliations and of Broadridge's we Two, found more be non-GAAP GAAP which investors with

the Tim me call Let over turn Gokey. to now Tim?

Timothy Gokey

Edings, full Thank our to results on you and be and update third here great review our to outlook. quarter you, year morning. It's good

continued in I'm investment. solid, the to the pleased our market of in underlying technology complex where our activity and Overall, strengthen, the environment. and a for see fundamentals highlighting performance a are retail markets need where We beginning capital business investor with which are are clients

spending with well While same they is as careful risks. are their the as tail that new all going those scenario other on, weigh being higher-for-longer as clients

play Broadridge's strength. trends to These

capital willingness solutions needs. move position innovative regulatory our and are be indicating Sales pickup is investor a or revenue, solutions markets growth, that to participation clients' continue wealth. are testing cost highlighting healthy to and with markets delivering strong, and ahead address driving Our that across governance, in

further will My strong helping capital that to and returns to and grow with flow of it It's M&A. as clients our put in a change. it as make position, partner we targeted and enhanced them they cash business conversations be clear work Broadridge a balance see their adapt a with

So quarter. let's dig into the

X% some adjusted results reported quarter. recurring into pushed by were annual which governance Broadridge First, growth growth. and fourth the revenues EPS timing modestly meetings, the Those revenue of impacted X%

Second, to execute of trading, investing, and against our to we the and democratization continue and drive wealth strategy simplify management. digitization modernize innovate

long-term strategy trends, which including growth, mid- continue is the we in by range. supported to position Our to high see single-digit

XX% our quarter sales, Third, that in through in year-to-date. XX% rose execution is which now are closed coming up the and

in that expect the continue momentum fourth positive quarter. to We

on use objective the cash remain capital we track fund our strategic positions to Fourth, achieve for our us That for year. repurchases share to and to increase free flow tuck-in M&A. to XXX% full conversion

track Broadridge on to objectives. Finally, fourth as another our growth, and large with of seasonally we quarter, is steady through deliver long-term consistent financial line year in move our

strong of We outlook low for X% With year-to-date currency of also to EPS closed our sales, fiscal to at the constant $XXX range, our $XXX end are XX% at at recurring to X% with record X% adjusted revenue the our million expect million. growth reaffirming of we 'XX, sales range. middle

impacted ICS the flat timing highlights the In despite equity communications, governance as review regulatory regulatory quarter rose our position Slide revenues our Now growth. to third growth. to recurring execution, the starting turn of our were quarterly in with headlines let's X X% franchise. of from communications X% revenue

in led change on year, end to right quarterly April shift will saw date instead you of March timing to meeting. can number to a week This at revenue Easter to quarter. proxy on revenues. results. ] with substantial April, many know, have regulatory the a back impact have third communications from push the the companies or the fourth their falls of any of for an the we shift last no year, That of our for As period This shift from in so schedule March, peak annual year annual full of last [ March of meeting impact

of trends position were Outside timing, growth mixed.

of equity was our X% to As X%, because growth record with position during in particular double-digit I are by line testing, noted, the distributed accounts. ETF year full growth is widely growth timing number Fund can quarter. and more fund by it than declined any position the quarter. types Quarterly in managed growth communications negative the driven and impacted for vary that

shift of lower cumulative fund the a over weighed Year-to-date for the funds. has record growth active ago market More funds X%. fund and especially money on flows impact to was broadly, year that began growth,

fund our modest Looking improving, a in fourth pickup quarter. and the ahead, testing are flows indicates

As will record growth expect record fund and the of Edmund of X% outline, year, we for stock growth X%.

growth strategy. -- There's that in demonstrate Driving investing visible means opportunity of better part fight. and democratization key enabling and what the no long-term is of than a our large to very a that proxy

all immediately Virtual reviews multiple an As billion votes. to be and the behalf of by vote Vote a on Each Broadridge's Broadridge Broadridge almost so our outcome accuracy rounds daily were the the highly on shares was distributed contest, process process millions known was independent that meeting part shareholders of verified broker-dealer X communications The Disney sides the Shareholder closed. clients. holding registered of an subject accounting annual meeting confident to to processed Meeting and platform could available in posted and culminated of and of hundreds participants. beneficial when firm multiple all of tallies the with

investors, to markets. are issuers, communications, Broadridge's digital how confidence regulators investments great technology showcase in commitment in investor like and broker-dealer of for significant Disney our with our enhance clients combined our Contests a and accuracy,

is and extend to strong interest in from mix largest X fund Outside managers of this ETFs. institutional-focused enhance to more the of choice leading both a wider live service by asset the recent contests, for managers visible retail and a of gone to categories. and continue funds of voting In highly asset across engagement we've supporting growth investor we turn, This, across and funds. set months, with

We're also our navigate as live and the report change. in in fully industry regulatory testing help solution we continuing We're go July. shareholder of now, beginning tailored funds the production rollout we

to Turning X% Capital million, BTCS, driven by Markets. Revenues rose on continues in deliver acquisition our to growth original pillars strong to of $XXX case. which the

acquisition. first a we expand solutions. trading and client capability our quarter, the global will as significantly Options classes expanding base, client across key signed time growth in our asset Global our our was existing U.S. BTCS' build long-term During capabilities plan platform. and of for bank to This products also represents another the SaaS of step our forward derivatives and which and a Futures the of goal on at the U.S. leading part It new

bank. the our leading the global for Nordic side, of completed platform On post-trade implementation post-trade a we

Our platform fixed consolidates bank's bank its This was systems, custodians a long-term operations particular markets the both client. European streamlining equities BTCS legacy across and XX XX income. in-house across and

it's relationship cycle. example front-office So across also trade another solutions of leveraging the our to our life extend

our BondGPT and and see to We also in traction solutions. continue with AI OpsGPT our digital repo with ledger nice

of the accounts and capabilities. strong [ ] with the Canada Canada interest suite interest we firms. strong a and Revenues for Wealth Management. from long-term was driving of I'm by our Wealth capabilities, Management wealth rose component Canadian tools our full in to Wealth offset XX%. rollout license see Investment sales that's we wealth pleased revenue wealth significant growth up are revenues, X/X the now opportunity transition. first and and as Investment our XX% year of the especially partially for seeing adapt $XXX UBS wealth our in since Turning Management momentum year-to-date platform, In strong million to sales to Investment to E-Trade broad for see approximately

up Moving quarter in to and for significant to year-to-date. in reports, sales benefited rose third and and the strong tailored digital Closed from customer see are of print XX% continue digital the our solutions We shareholder XX% opportunities print sales. we communications. sales new and

in strong revenue combination line $XXX like million levels achieve on of to front increased Our like regulatory at a trading reports. clients that their and focus our office tools, drive of requirements tailored shareholder guidance. growth, pipeline giving ability record year That and meet is confidence $XXX full remains sales closed in record solutions sales us to million record pipeline our as

Slide to X outlook. and thoughts for move some on Let's our quarter additional

we recurring Investor laid adjusted in the First, out organic a growth, we goals reported our are of the quarter poised to we meetings, deliver revenue another by year earnings at growth double-digit December. EPS growth of long-term impacted timing annual X% line In growth. in Day with mid-single-digit and right

into fourth Now quarter, X we remaining our the visibility volumes. month high into have

X%, adjusted of recurring the record XX% year, we're to growth full tracking sales. revenue closed approximately growth For of EPS and

by demand regulatory driven engagement, growth need have trends, be for our Second, data to drive and AI, change, first leveraging long-term strong to the and all increasing continues sales management investor modernize digitization, wealth the over combined X trading, quarters. to accelerating the

visibility. largest a into result, our we're sales going with and pipeline a quarter As strong increasing

remain the has growth from mid- overall trends moved past and to Position line pandemic decade. rate highs in growth of single-digit high with the

of and are quarter, well growth up time, funds, bode increase market Capital growth. driving beginning improving. level same fourth both activity of which position for fund appears money engagement as Looking innovation sales Markets clients rotate the At investment. outlook services are beyond strong is our to the picking out markets financial equity investor investors be driving of to for the is future and their firms

strategy. executing our Third, growth we're on

delivering to wealth are our product and drive technology in including and growth investing capabilities of capital We to enhancing North course sales strengthen We're America. across AI. capabilities digital customer innovative engagement communications, are governance, and driving our shareholder also ability teams, new and expanding our and markets, capabilities capabilities

sheet and shareholders. us track achieve our cash to organic and growth. cash M&A strong on of the number complement we're opportunities attractive flow free XXX% return our conversion additional investment-grade We're to growing combination also further capital of balance objective, Fourth, to to positions flow a free seeing our

growth. as to to organic, right execution EPS to demand X-year remains grow track attack continued recurring beyond to billion X% FY Finally, on revenue growth, 'XX by goals. trends, of We Broadridge XX% and those line 'XX well-positioned And adjusted with with deliver in fiscal our we currency, on objectives growing drive $XX well-positioned X% X% to supported with X% we opportunity. X% growth market our growth to long-term are remain continue long-term constant to and

continues close to to and clients, I your as set period, world. of be associates focus shown opportunities the The want will around over Broadridge front thanking us, a in Thank evolving and seizing by apart. quarter we and what by We're our accomplishments this you. evolve us the our serving as for well. continues to do on our market strong long

it And let to with me over that, turn Edmund.

Edmund Reese

everyone. and you, Thank Tim, good morning,

Let quarter guidance. me start full by saying third that results relative I'm year the with our pleased to

was we XX% adjusted growth, third and by operating income strong EPS X% margin, While of impacted confidence timing have growth, a proxy records recurring position. That us the recurring XX%. entering growth we a deliver are to in seasonally approximately approximately quarter the annual quarters, ability X% gives revenue revenue and in received meetings, interval adjusted April. of XX% larger adjusted revenue quarter through X fourth reported Through growth, growth EPS our high of recurring XX%

performance is cash flow for equal importance our the year. Of

the $XXX on million allow $XXX million. to us return a XXX% cash free and to $XXX conversion, flow which will repurchases through to of We total for to with shareholders share of million are $XXX dividend track

driving XXXX, clarity financial that to the we most in have on with objectives are momentum back, in the at So are business. my positive matters wins which our what X-year view, fiscal our achieving

XX% And are our First, our over reinforces first in will full 'XX X last closed that pipeline sales through we sales XX% guidance. the achieve to conviction our year year. healthy quarters growth up XX%

growth. market Second, shows with 'XX, and full increased equity outlook while and 'XX our for consistent our position more X% ETF retail of and activity mid- the single-digit QX testing year high recent is X% to long-term early growth fund for testing

on effort managing and earnings in create in fourth the actively fiscal we quarter delivering for and capacity continued to continue our 'XX growth growth. Third, restructuring 'XX, investment organic finalizing to our focus while expenses

accretive cash growth our shareholders. Finally, is conversion back supplement return with at to or free levels, M&A positioning to definitively our flow organic capital us tuck-in historical

driving X result, a I continued Strong deliver Broadridge X to points see of growth, growth to sales, to continue additional ahead, I position strong As points in business. investment growth, invest growth the sales, X X momentum growth. that supporting and enable Broadridge expense from new will internal from when and M&A closed earnings look contributing to organic in active discipline growth

on Broadridge that financial high deliver execute mid- we on to that our confidence again teens objectives gives X-year me to to continue remain on and model, and financial the We ROIC. track

So summary X. now turning to financial Slide on the

for revenue And operating the see income rose points. adjusted AOI expanded X% on quarter. margins $X.X to the basis, to XX constant currency You billion, a $X.XX. X% organic. rose performance of And third Adjusted XX.X% increased EPS Recurring basis X%. up all

Tim as sales closed and up QX we $XX Finally, noted, third quarter 'XX. over delivered million, XX% of

On that 'XX. into Slide and by X, delayed impacted Recurring was driven recurring X% growth converting communications growth billion in were our you backlog GTO that QX our QX. fiscal to to by see grew revenue revenue in $X.X revenue proxy

almost heavy for of is typically March for more proxy full our for positions. year So accounting point, on X/X context a communications, this month

Tim annual which pushed March into saw in from XXXX, we a in timing meetings, As April. modest delay mentioned, volumes of the

QX While since our positions, in fourth that benefit that virtually quarter. all those revenue, processed lowered have regulatory the we delayed and will of revenue

Slide by that as I sales QX, in recurring ICS recurring revenue the see across from grew mentioned. the offset position Regulatory flat of growth we noise On revenue our the impacted partially annual ICS timing growth largely just segments. can by revenue GTO quarterly meetings. revenue and were In X%, was mid-single-digit equity X,

while that real full have revenues, our I As on impact position they these from earlier, explained variances growth. timing result no in reported can quarters vary year

to with position line mid-single-digit be expect to revenues in full growth. year continue regulatory We

solutions. revenue up float by our as strong Fund due was as disclosure higher our revenue retirement well X% in of and by data float solutions workplace X%, income our in sales Data-driven shareholder Solutions higher and analytics increased in products, and Issuer to registered our growth driven revenue products.

annual of QX also the timing impacted solutions registered cycle. were meeting shareholder Our by the

year that expect still high So business single-digit I will revenue note the has grown and full issuer we XX% year-to-date growth.

print. rose revenue growth revenue higher-margin communications lower in the X% digital as margin offset lower growth Customer by was of

the new volumes We to onboard expect fourth increase in as quarter clients. we

growth. of full our the growth. top single-digit single-digit low with by continued line year, double-digit yield For in should we print This and strategy, digital low expanding print-to-digital driven higher-margin revenue growth expect low is margins growth and which earnings line double-digit

benefit to objectives, growth high revenue our end QX, organic part expect ICS X%, the to we in of at driven ahead Looking the recurring of timing growth with of differences. X% by

led to fixed I Capital double-digit and performance Recurring which in had office growth strong to that quarter. $XXX revenue our Turning sales continued by see the third GTO. equity note grew to will X% in again new higher million. trading volumes. Markets BTCS revenue front revenue solutions, income also increased recurring X%, we in

in by the Management revenue license Investment began XX%, UBS which powered first and transition, higher contract by late partially Wealth revenue, offset grew and the E-Trade the quarter. fiscal

recurring to be from wealth growth another X% the Capital 'XX revenue. X% And Looking year-to-date, quarter in business. GTO fourth organic to we growth for transition have the quarter license that continue will impacted will revenue giving confidence in full full over high our Markets That QX us objectives well growth expect our said, also impact both by we growth within high to E-Trade ahead, businesses. year be is growing X%

trends. managed X% driven testing. volume position our continued the Equity a in in line by in quarter, with of Slide to X growth was for accounts. Turning discussion growth double-digit was Growth

the of our data record through outlook proxies high for the of the April, year. expected now that for confidence gives for period data are we've growth. us are This for And and We in peak position meetings proxies. received annual in end XX%

year, X%. growth the equity we expect full For of approximately position

is is outlook And early, and high while our to growth, showing extending single-digit our mid- still mid-single-digit continuing position the equity testing data in QX growth. support 'XX for to

growth tailwind in to expanding We by that continue financial participation drives in a be long-term as serving encouraged markets our business. investor

ETF positions and X%. by Fund declined

we in passive slower and of For funds. position year, declines expect X% growth with in the growth full active funds

on of the asset grew and driving consecutive with equity blended volume growth. saw fixed in more on volumes now basis volatility again, XX trade we a XX% classes bottom Trade slide. QX. double-digit in difference Once income volume growth, quarters, volumes Turning to the now a modest increased

primarily for client drivers now points to the XX offset float communications, X Recurring grew income, contributed relationships business of Slide point. growth. from Let's revenue of and Revenue trading move proxy expanding currency. net constant revenue growth, recurring new Internal X of the timing growth. by X% volumes, contributed

current similar revenue XX And revenue fiscal nonmaterial a point recurring on year rates, full growth recurring positive growth. impact a year in basis to we had exchange based Foreign expect relative benefit on 'XX.

up growth. XX. in revenue grew points largest X a increases, X% of due distribution discussion our a wrap revenues to billion, revenue recurring Low I'll postal Total revenue with point Slide to to margin. on no with X to of the total revenue to Distribution the are $X.X income revenue headwind QX X% operating revenue view grew delivering total adjusted being which contributed contributor, rate growth. margin

We last postal adding revenue range, year continued revenue up over grow to single-digit increases. XX% the driven continue and to the X revenue expect was high distribution $XX impact in growth. Event-driven point of million, rate to by

mutual work with fund anticipated, saw including proxy Disney As levels activity, we more elevated QX. activity in contest normalized of and our

increased based expect of that above In mentioned we event-driven year investments growth the levels activity to full contest full above-trend call, for historical QX mutual combination million revenue. higher we event-driven event-driven modestly million and expected in trend proxy on the our $XXX fund With year. we now increased to revenue. activity, revenue $XXX We QX in our the

growth adjusted 'XX in fiscal delivering on as make QX in committed short-term while to are We EPS to still we our investments guidance. long-term continue investing

now prior XX. Turning Investor revenue at higher restructuring Adjusted realign the from operating quarter. our immaterial Day, on event increased income from margin Adjusted in and the margins we businesses on points management and float by from up began impact growth impact was income higher 'XX net of as basis points to higher year revenue have detailed XX QX to that and basis to our margins I operating continued to margin our distribution of Slide an leverage and benefit which The recurring some structure. XX.X%. on benefit operating in XX the earnings income, our streamline initiative

of we noncore on track end And a excluded As from 'XX. the and adjusted initiative, complete in by the charge small part restructuring The business we operating restructuring charges are exited adjusted calculation year. the income of remaining remain and initiative our GTO the QX have to fiscal restructuring EPS. the of

long long-term have expense the discipline, allows and along operating model, record a management. business of in We growth to track disciplined objectives. in inherent our growth earnings meet us This invest investments our with leverage

to continue expect to we operating margin XX%. ahead, adjusted income to Looking increase approximately year-over-year

Slide move Let's XX. sales closed ahead on to

sales XXXX, XX% total to year-to-date up Third $XXX QX million, $XX bringing XX% and quarter in our above were from million, million $XX closed QX year-to-date 'XX.

Our BTCS, we've wealth. tailored in performance as investing strong shareholder been and reports, where and areas innovating, closed been sales has on product such

drive to that requirements. address revenue, invest to continue in clients cost see either lower or regulatory We willing areas

guidance continue and sales entering With average high full $XXX our confidence strong we of and million in momentum quarter, million, to X again, year XX% fourth the year meeting our of our performance to through backlog full have year fiscal $XXX history of in 'XX. closing providing X-year revenue strengthening quarters the on

to million, free X now cash [ on year. first client lower cash ] million $XXX continued spend. results free flow flow $XXX months a than last million, $XX was being better Slide our is flow of driven growth by million QX cash $X 'XX quarters, XX. to relative free I'll in earnings strong X turn These are XXXX. the positive and Through platform

last track QX on has is This consistent us fiscal flow up in conversion 'XX. year. free for from XX% conversion flow of XXX% expectations year cash with cash 'XX, our for XXX% Free was and

the you On that year and on see Slide invested converting months the our XX, clients technology first our over of platforms. we million $XXX can to X platforms

are year proceeds, share our returned capital due to 'XX. Additionally, dividend we to before conversion, expectations cash year-to-date. to shareholders option million given repurchases shareholders in and we flow for additional positioned to free $XXX XXX% And return in fiscal capital

share to estimate total continue $XXX million million for $XXX which full in an $XXX the $XXX includes additional million million fourth the We in year, to to repurchases quarter.

for context into this you. put me let And

to While right capital we still in X-year our 'XX line unfolding 'XX this fiscal in early with our allocation are cycle, expectations. is current fiscal

start, another Investor cash X.Xx objective. are we $X in at for said balancing Day, available this investment After on with well-positioned $XXX off our flow, remain execute shareholders, are to billion million to year. billion position, a dividend, to expect free I to to strong at accretive strong As $X we track generate with reach of which And growth the capital capital approximately a million $XXX we M&A. to return leverage we tuck-in

ROIC to balanced next X expect We that the will allocation increase to capital years. high level teens over mid- this

to XX. Slide on Turning guidance

We be 'XX 'XX. currency full expect model X% end visibility to the Broadridge in X recurring With the at position guidance continue growth the we range. low approximately for financial constant execute and of revenue left to growth, the months year, fiscal high in our fiscal

XX%. I'll We growth the also share And to continue that track of we to note middle return AOI X% dividends and XXX% $XXX at $XXX in Adjusted have to approximately sales ] range, $XXX XXXX. to closed expect million drive flow fiscal [ conversion million remain million repurchases and $XXX expansion on cash and our XX% EPS to million. of margin of free to of capital through

and of I our means financial conclude all will what emphasizing it what earlier. objectives, this to by bring I highlight To together said

X-year start the into line give to a third the in 'XX confidence quarter, through to the cycle. fiscal the fiscal in results XXXX and the us fourth visibility First, a our marking strong 'XX quarter with delivering guidance,

including we business, consistent the in sales growing and to sustain capacity investment our our participation, steady momentum taking investor create positive growth. strong are actions and have we Second, demand,

accretive supplement Additionally, we M&A have capital organic the growth. capacity for to our tuck-in

Finally, X position performance those forward positive momentum, take with And objective. your that, items, financial Andrea? 'XX fiscal to our on deliver let's us and questions. X-year year

Operator

our from David Evercore question And Instructions] of first comes [Operator ISI. Togut

David Togut

I'll question the follow-up ask my upfront. and both

the OpsGPT demand where see for the do opportunity increase you product early and solid So BondGPT, biggest Gen to AI-related given first, development?

then white And balance the we're you post you've acquisition, few where space since greatest the your acquisition see follow-up, the sheet, for the deleveraged a now do years Itiviti opportunities?

Timothy Gokey

It's every Tim. into introduce And of in then thank well to products. all as talked future, about commercial -- it for think have And will really -- as do have way. product be the you space. part for use the products all internal about of question that We part will we're efficiency, AI and our in a on in a we're in as AI. And it. and We've excited pretty It's we safe being that bringing know. leader an our to area about, that you AI how talked

X. and of proof-of-concepts With our progress We OpsGPT, we're actively with and we first we're additional are the have really another pleased discussions. by engaged with OpsGPT X production X underway, client BondGPT, BondGPT. in

So those. there's activity lots good around of

of global an up also managers largest in management XX side X have asset and largest contracting. we the already XX additional with the where demand model, XXX signed things We're of in our the doing asset

the for -- we of in think opportunity for that in in I of real It these to these of areas be really where sort really it more one in see make cases. there. to the are us think people we us of doesn't biggest sense I going And the for these unique ] some forward, asset attracted of areas others So really [ deepening sort markets to arcane it's makes sort to depth use invest. there's or areas sense invest management. think When capital

it's We're having drive it think of part fixed to there it's commodity about just there definitely it's in product, you in will leverage where, a of the more where create And things a When have income about proprietary really good this we there and how really where exclusive you something excited going the part be part and then have future, of will are a be if data. data, it think unique. proprietary you can we something world. areas

AI. the be we excited about So continue of begin sort economics, It it. to it be be to in to but about while will we to excited a for show begin

we out, for X points. free this to side, objective point our acquisition, of pause as M&A conversion the as now do let you just is invest. think on is reached having the market I BTCS know, we of primarily post on I important a sort a as that $XX flexibility and we've turn to really sort runway our our to goals, leverage question. And been have billion X And organic that's opportunity. That's that, think you and but David, me -- with our long for X-year and our M&A cash growth flow you have know,

break think is that think together in price. calls, sellers on coming buyers have now, been past I and cautious up. to that, beginning the looking I at do market And logjam about I And

the beginning know, you that's our capital. are potential that we right the tuck-in more owner. in look opportunities that in mid- cost where well of always we're align And really tightly And as to our and strategic see criteria. We IRR meet both excess teens to with of for the attractive have of opportunities high sort our to strategy financial

make opportunities be on. areas has do. up on. look you we're like very polishing Wealth things there'll opportunities We the to strategics some be year. the interesting some think to there So analytics their PE across will firms going we things management that really see And think beginning this look we and Data that them going has when do very attractive properties ourselves. all interesting to

very be a of selective. very, be there think opportunities. will stream so And we We'll

returns us something, we we will things attractive shareholders. for very see there you in opportunities can doing good If it enough have be and that you'll know disciplined because and think we're out that -- very do doing it's that very will

Edmund Reese

we're we why which allocated in But number because that in prepared Yes. through strong as times leverage capital I the fiscal are And fact year, in a I and the repurchases point the towards made really, this said majority X months that a be out David, I'll ratio really just share right on cash you of opportunities will fiscal our flow. left position we're there. remarks, highlight of my this our Tim, free being capital at the is in the of add, have generating the year.

as attractive go And there be with to there So capital fiscal opportunities a year. we'll our able very as Tim I said, into growth to our supplement next we position great M&A. in organic out be are think

Operator

next question of Vu from comes Will The Research. Wolfe

William Vu

on had This ] related [ I is for to some Will of X bookings trends. here. the Darrin

First or comment guys -- sizes was Are I transformative. talked deal any you more and curious of some some to about you any guys more pipeline. characteristics seeing being the And on being of expanding the past as underlying bookings have in foremost, the that? your within can or if you less recent of

that really resonating kind being, on as we of this are end? on And -- curious you're wealth how your then with my the look some of second prospective what customers question opportunities management seeing side,

Timothy Gokey

Well, thanks. take those. I'll Tim. It's

do think but manageably-sized want I to the booking be -- exactly are don't opportunities. trends, lots I the main thrust to very on I think opportunities, we say bite-sized of, continues that

$X are, have any that to call many things million, we influence. but sort years we do it, of don't mega than so And of take will more some have these that

sort about that So we really that good of we're feel seeing. flow

certainly revenue drive this the -- a We that things on areas in in and the tools, drive BTCS that things we're revenue, but print adviser class it I will certainly that drive We're with lots around side, securities demand, are things seeing activity to seeing script, tailored action, around of seeing around mentioned really bit and areas little nicely. other digital costs, course, report. of of shareholder regulatory

that making. the align areas that we've So all been with investments really

the that us feel about really good to And we're makes so see. that on return the investments going

getting of I of we've return I sort where question think your on made that, second management. part was just is that really of -- think emblematic wealth areas And that about And significant investments. the

how market, know, a of about attractive market, $XX with the sales. and really getting a we're you series talked growing, traction As we've good component it's whole billion very

for the Our up is XX% million. pipeline our sales $XXX year, current were over

really to place and it. say, they think of opportunities a map of looking sort of build point service things things a I can you looking together, But of how and that open combination a integration So they a we vision. of to layer, point the pain say, client things over for, different people road put what that sort And the each when they're I terms to sort very a like has I sort it's the North at begin say are time, to in Meanwhile, framework, API digital like specific all pain corporate how Star address want do existing think they same are bring to can time? enterprise of in that of tax, tend like that me onboarding, like an as let tangible. with start some those actions,

great Canada. we so of in also here have lots going on And the U.S. both good in but conversations conversations

the really feel about good we there. outlook So

Operator

from comes Patrick question O'Shaughnessy of Raymond next James. The

Patrick O'Shaughnessy

end what coming end When lower in the you compared this for that the of that driving year? kind X% high revenue towards revenue then of does to are your of outlook the think next that are growth year as the factors X%, range, And point inform range? the the are fiscal kind how of about your factors resulting recurring

Edmund Reese

deeper to an opportunity for want Patrick, thanks that. that did I into question. dive

thanks the for So question.

highlight We what revenue impacting organic that would are strong at point, items X And are recurring that. your a are there I really range. of the low tracking, X% is to end

growth. would say, position is First, I

you was to for position You talk I single-digit the growth, and high and year. heard about both Tim about outlook just our and mid- position at fund know equity X% growth that X% full growth

that's thing outlook that to had. So relative we the one

communications a revenue quarter new know, the business. highlight component revenue me our about customer up you again, I'd to you to as second, fourth onboard sales lower strong we heard converting our of is talk recurring But starting in as that tick The And see in growth clients. there revenue.

and the year impacts to positive next estimated growth sales, this into position me 'XX with about point. QX 'XX think we deliberate mid-single fiscal testing have digit starting key showing and mentioning I tick point momentum that to XX%, be data was which to revenue, very for 'XX I XX% up is do going So up. at

know, a that's think up. I as normally good we ticks because it trend

So look, delivering X% fiscal pretty objectives. 'XX the a I in into fiscal good to relative X-year 'XX and us momentum going think has place in

the And question for it and our go the know, we strong mentioned, on for objectives. to as of is start it what of like line as all means fiscal 'XX. great focused into And on The in sight second I put the have that's -- cycle. you me, would X-year that like a what forward I say outlook. year And part it's I your terms of just X-year

just X% remind recurring and track a we're X% And you, respectively. and of EPS and deliver XX%, growth, growth sort of I'll on adjusted year coming off approximately X% now revenue to

line with as right line the I moving so forward. algorithm And the And and those in the numbers momentum our just growth we growth about stable of are objective. have we think guidance, with drivers talked that long-term right in the being about

as our more practice, QX So X-year 'XX robust are we objectives. talk good way usual our and in about where specifically come we to a the back relative on about we'll feel more call. And

Patrick O'Shaughnessy

follow-up. Yes. I A appreciate that. quick

April March. and to pushed commentary into understanding timing meetings shareholder your make from getting I'm Just sure on

fund in line, So data-driven that or and would no correctly? regulatory impact show understanding revenues up the solutions that customer but Am line communications. to issuer revenues I the

Edmund Reese

primarily That's right.

the we picking Those X out. in You're that called up. are it areas very astute

obviously, of then shareholder the regulatory it the in issuer, business. So both and see businesses, those you'll solutions and registered in

Operator

Instructions] [Operator

this closing like no call remarks. time. questions to are There over turn management further any at for to the I'd

Timothy Gokey

Thank you very your you much, Broadridge. Andrea. the Thank interest in call. Thank everyone you to on for

looking double-digit growth, full as growth. strong said just That's EPS in forward revenue earlier, objectives. to -- X% I seeing will seasonally recurring quarter. Edmund are we largest And a our now well to our of you X-year delivering we year said, August. results, to into We're start look we're As mark going to

Operator

and concluded. you disconnect. The presentation, may conference attending for now has Thank now today's you

Broadridge Financial Solutions (BR) 8 May 242024 Q3 Earnings call transcript