Business/Financial Results (Form 8-K)

Broadridge Reports First Quarter Fiscal 2027 Results

Recurring revenues grew 11% on a reported and constant currency basis

Diluted EPS was $0.83 and Adjusted EPS grew 3% to $1.56

Closed sales grew 10% to $36 million

Reaffirming FY'27 guidance, including 6-8% Recurring revenue growth constant currency, 8-12% Adjusted EPS growth, and Closed sales of $290-$330 million

NEW YORK, N.Y., November 3, 2026 - Broadridge Financial Solutions, Inc. (NYSE:BR) today reported financial results for the first quarter ended September 30, 2026 of its fiscal year 2027. Results compared with the same period last year were as follows:

Summary Financial Results						First Quarter
Dollars in millions, except per share data						2027			2026			Change
Recurring revenues						$1,083			$977			11		%
Constant currency growth (Non-GAAP)												11		%
Total revenues						$1,669			$1,589			5		%
Operating income						$174			$189			(8		%)
Margin						10.4		%	11.9		%
Adjusted Operating income (Non-GAAP)						$230			$251			(9		%)
Margin (Non-GAAP)						13.8		%	15.8		%
Diluted EPS						$0.83			$1.40			(41		%)
Adjusted EPS (Non-GAAP)						$1.56			$1.51			3		%
Closed sales						$36			$33			10		%

"Broadridge is driving digital engagement, scaling agentic AI, and accelerating tokenization while delivering strong financial results," said Tim Gokey, Broadridge CEO. "Fiscal first quarter Recurring revenue grew 11% constant currency, including 9% Organic growth, and Closed sales rose 10% to $36 million. Adjusted EPS increased 3% to $1.56.

"We continued to be buyers of Broadridge shares, repurchasing $200 million in the quarter while returning an additional $111 million to shareholders via our dividend.

"With a strong start to the year, we are reaffirming our fiscal year 2027 guidance, including 6-8% Recurring revenue growth constant currency, 8-12% Adjusted EPS growth, Free cash flow conversion of 100%+, and strong Closed sales of $290-$330 million," Mr. Gokey concluded.

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Fiscal Year 2027 Financial Guidance

						FY'27 Guidance			Updates
Recurring revenue growth constant currency (Non-GAAP)						6 - 8%			No Change
Adjusted Operating income margin (Non-GAAP)						~21%			No Change
Adjusted Earnings per share growth (Non-GAAP)						8 - 12%			No Change
Free cash flow conversion (Non-GAAP)						100%+			No Change
Closed sales						$290 - $330 million			No Change

Financial Results for First Quarter Fiscal Year 2027 compared to First Quarter Fiscal Year 2026

•Total revenues increased 5% to $1,669 million from $1,589 million.

◦Recurring revenues increased $106 million, or 11%, to $1,083 million. Recurring revenue growth constant currency (Non-GAAP) was 11%, driven by 9pts from Organic growth.

◦Event-driven revenues decreased $46 million, or 41%, to $67 million, as lower mutual fund proxy revenues were partially offset by higher equity and other revenue.

◦Distribution revenues increased $20 million, or 4%, to $518 million, driven primarily by the postage rate increase of approximately $18 million.

•Operating income was $174 million, a decrease of $15 million, or 8%. Operating income margin decreased to 10.4%, compared to 11.9% for the prior year period.

◦Adjusted Operating income was $230 million, a decrease of $22 million, or 9%. Adjusted Operating income margin was 13.8% compared to 15.8% for the prior year period.

•Interest expense, net was $27 million, an increase of $3 million from $24 million.

•The effective tax rate was 13.6% compared to 22.4% in the prior year period. The decrease was primarily driven by an increase in total discrete tax benefits relative to pre-tax income.

•Net earnings decreased 43% to $95 million and Adjusted Net earnings were flat at $178 million.

◦Diluted earnings per share decreased 41% to $0.83, compared to $1.40 in the prior year period, and

◦Adjusted earnings per share increased 3% to $1.56, compared to $1.51 in the prior year period.

Segment and Other Results for First Quarter Fiscal Year 2027 compared to First Quarter Fiscal Year 2026

ICS

•Total revenues were $1,153 million, an increase of $23 million, or 2%.

◦Recurring revenues increased $50 million, or 10%, to $568 million. Recurring revenue growth constant currency (Non-GAAP) was 10%, driven by 8pts of Organic growth.

◦By product line, Recurring revenue growth and Recurring revenue growth constant currency (Non-GAAP) were as follows:

▪Regulatory rose 17% and 17%, respectively. Equity revenue position growth was 11% and Mutual fund/ETF position growth was 16%.

▪Data-driven fund solutions increased 10% and 10%, respectively, driven by growth from the acquisitions of Acolin and iJoin and in data and analytics revenues.

▪Issuer rose 4% and 4%, respectively, driven by growth in disclosure solutions.

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▪Customer communications rose 3% and 3%, respectively, driven by growth in digital and print revenues, as well as the acquisition of Signal Agency Limited ("Signal").

◦Event-driven revenues decreased $46 million, or 41%, to $67 million, as lower mutual fund proxy revenues were partially offset by higher equity and other revenue.

◦Distribution revenues increased $20 million, or 4%, to $518 million, driven primarily by the postage rate increases of approximately $18 million.

•Earnings before income taxes decreased $22 million, or 18%, to $104 million. The earnings benefit from higher Recurring revenue was offset by lower Event-driven revenues and higher Operating expenses. Operating expenses rose 5%, or $46 million, to $1,049 million, driven by higher distribution and technology expenses, as well as the impact of acquisitions.

GTO

•Recurring revenues were $516 million, an increase of $56 million, or 12%. Recurring revenue growth constant currency (Non-GAAP) was 13%, driven by 10pts of Organic growth and 3pts from the acquisition of CQG, Inc. ("CQG").

•By product line, Recurring revenue growth and the corresponding Recurring revenue growth constant currency (Non-GAAP) were as follows:

◦Capital Markets rose 17% and 17%, respectively, driven by 12pts of Organic growth, including a 4pt benefit from higher software term license revenues and 5pts from the acquisition of CQG.

◦Wealth and Investment Management rose 5% and 6%, respectively, all Organic, including 3pts of higher software term license revenues.

•Earnings before income taxes were $99 million, an increase of $31 million, or 47%, as higher revenues more than offset higher expenses. Operating expenses rose 6%, or $25 million, to $417 million driven by higher revenue and technology expenses, as well as the impact of the CQG acquisition.

Corporate and Other

•Loss before income taxes was $93 million, a decrease of $112 million, due to non-cash Losses on Digital Assets of $40 million in the current year period compared to a gain of $46 million in the prior year period, and Restructuring and Other Related Costs of $15 million.

Earnings Conference Call

An analyst conference call will be held today, November 3, 2026, at 8:30 a.m. ET. A live webcast of the call will be available to the public on a listen-only basis. To listen to the live event and access the slide presentation, visit Broadridge's Investor Relations website at www.broadridge-ir.com prior to the start of the webcast. To listen to the call, investors may also dial 1-877-328-2502 within the United States and international callers may dial 1-412-317-5419. A replay of the webcast will be available and can be accessed in the same manner as the live webcast at the Broadridge Investor Relations site. Through November 10, 2026, the recording will also be available by dialing 1-855-669-9658 within the United States or 1-412-317-0088 for international callers, using passcode 4349092 for either dial-in number.

Investor Day 2026

Broadridge will host an Investor Day on Tuesday, December 8, 2026 in New York City. Broadridge's executive leadership team will give an update on the Company's strategy and provide new three-year financial objectives. A live webcast and replay of the event will be available on Broadridge's Investor Relations website at www.broadridge-ir.com.

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Explanation and Reconciliation of the Company's Use of Non-GAAP Financial Measures

The Company's results in this press release are presented in accordance with U.S. GAAP except where otherwise noted. In certain circumstances, results have been presented that are not generally accepted accounting principles measures ("Non-GAAP"). These Non-GAAP measures are Adjusted Operating income, Adjusted Operating income margin, Adjusted Net earnings, Adjusted earnings per share, Free cash flow, Free cash flow conversion, and Recurring revenue growth constant currency. These Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, the Company's reported results.

The Company believes our Non-GAAP financial measures help investors understand how management plans, measures and evaluates the Company's business performance. Management believes that Non-GAAP measures provide consistency in its financial reporting and facilitates investors' understanding of the Company's operating results and trends by providing an additional basis for comparison. Management uses these Non-GAAP financial measures to, among other things, evaluate our ongoing operations, and for internal planning and forecasting purposes. In addition, and as a consequence of the importance of these Non-GAAP financial measures in managing our business, the Company's Compensation Committee of the Board of Directors incorporates Non-GAAP financial measures in the evaluation process for determining management compensation.

Adjusted Operating Income, Adjusted Operating Income Margin, Adjusted Net Earnings and Adjusted Earnings Per Share

These Non-GAAP measures reflect Operating income, Operating income margin, Net earnings, and Diluted earnings per share, and are adjusted to exclude the impact of certain costs, expenses, gains and losses and other specified items the exclusion of which management believes provides insight regarding our ongoing operating performance. Depending on the period presented, these adjusted measures exclude the impact of certain of the following items:

i.Amortization of Acquired Intangibles and Purchased Intellectual Property, which represent non-cash amortization expenses associated with the Company's acquisition activities.

ii.Acquisition and Integration Costs, which represent certain transaction and integration costs associated with the Company's acquisition activities.

iii.Restructuring and Other Related Costs, which represent severance related to workforce actions resulting, in part, from the Company's AI and productivity initiatives in fiscal year 2027 and severance and other costs related to the closure of substantially all operations of a production facility in fiscal year 2026.

iv.Gains or Losses on Digital Assets, which represent the unrealized gains or losses, as applicable, related to the mark to market of the Company's digital asset holdings and the realized and unrealized gains or losses, as applicable, associated with the Canton Digital Asset Treasury transaction.

We exclude Acquisition and Integration Costs, Restructuring and Other Related Costs, and Gains or Losses on Digital Assets, from our Adjusted Operating income (as applicable) and other adjusted earnings measures because excluding such information provides us with an understanding of the results from the primary operations of our business and enhances comparability across fiscal reporting periods, as these items are not reflective of our underlying operations or performance.

We also exclude the impact of Amortization of Acquired Intangibles and Purchased Intellectual Property, as these non-cash amounts are significantly impacted by the timing and size of individual acquisitions and do not factor into the Company's capital allocation decisions, management compensation metrics or multi-year objectives. Furthermore, management believes that this adjustment enables better comparison of our results as Amortization of Acquired Intangibles and Purchased Intellectual Property will not recur in future periods once such intangible assets have been fully amortized. Although we exclude Amortization of Acquired Intangibles and Purchased Intellectual Property from our adjusted earnings measures, our management believes that it is important for investors to understand that these intangible assets contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets.

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Free cash flow and Free cash flow conversion

In addition to the Non-GAAP financial measures discussed above, we provide Free cash flow information because we consider Free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated that could be used for dividends, share repurchases, strategic acquisitions, other investments, as well as debt servicing. Free cash flow is a Non-GAAP financial measure and is defined by the Company as Net cash flows provided by operating activities less Capital expenditures as well as Software purchases and capitalized internal use software. Free cash flow conversion is calculated as Free cash flow divided by Adjusted Net earnings for the given period.

Recurring revenue growth constant currency

As a multi-national company, we are subject to variability of our reported U.S. dollar results due to changes in foreign currency exchange rates. The exclusion of the impact of foreign currency exchange fluctuations from our Recurring revenue growth, or what we refer to as amounts expressed "on a constant currency basis," is a Non-GAAP measure. We believe that excluding the impact of foreign currency exchange fluctuations from our Recurring revenue growth provides additional information that enables enhanced comparison to prior periods.

Changes in Recurring revenue growth expressed on a constant currency basis are presented excluding the impact of foreign currency exchange fluctuations. To present this information, current period results for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the average exchange rates in effect during the corresponding period of the comparative year, rather than at the actual average exchange rates in effect during the current fiscal year.