Broadridge Financial Solutions Inc (BR)

Broadridge reported first-quarter fiscal 2027 results on 3 November 2026 1. Total revenues rose 5 percent to $1,669 million, and recurring revenues, the fees that repeat under client contracts, rose 11 percent to $1,083 million 1.

Profit moved the other way, with diluted earnings of $0.83 a share against $1.40 a year earlier, a 41 percent decline 1. Adjusted earnings of $1.56, which leave out items such as acquisition costs and digital asset gains and losses, rose 3 percent 1. Corporate results included a $40 million non-cash loss on digital assets, against a $46 million gain a year earlier 1.

The company reaffirmed its fiscal 2027 guidance of 6 to 8 percent recurring revenue growth at constant currency and 8 to 12 percent adjusted earnings per share growth 1. It said it will host an Investor Day on 8 December 2026 to give new three-year financial objectives 1.

On 16 July 2026 the SEC proposed Regulation E-Delivery, which would let firms make electronic delivery the default for investor documents 310. Broadridge said that if the proposal is adopted as proposed it expects no effect on fiscal 2027 results 3.

Broadridge’s common stock began trading on the New York Stock Exchange under the symbol BR on 2 April 2007 3. The company describes itself as having over 60 years of experience, including over 15 years as an independent public company 3.

Fiscal 2022 was a growth year: revenues rose 14 percent to $5,709.1 million, and acquisitions added 7 points of growth, most notably Itiviti, which closed in May 2021 5. Recurring fee revenues, the part that repeats, grew 16 percent 5.

In fiscal 2024 revenues were $6,506.8 million, and in fiscal 2025 they were $6,889.1 million, a rise of 6 percent 4. Operating margin moved from 15.6 percent to 17.3 percent over the same two years 4.

On 1 November 2024 Broadridge bought Kyndryl’s Securities Industry Services business, which serves wealth management, capital markets and technology needs in Canada, for $185.5 million in cash 3.

Fiscal 2026 brought four more purchases: Signal Agency Limited in August 2025, iJoin in September 2025, Acolin in January 2026 and CQG in April 2026 3. Acolin is a European cross-border fund distribution firm, and CQG supplies trading software to futures and options markets 3.

Fiscal 2026 revenues rose 9 percent to $7,476.8 million, and recurring revenues rose 8 percent to $4,878.0 million 3. Net earnings rose 34 percent to $1,124.3 million, helped by $227.0 million of non-cash gains on digital assets 3.

The digital asset gains trace to Canton Coins, which the company began earning in the fourth quarter of fiscal 2024 for its work as a Super Validator on the Canton Network 2. Canton is a network that links financial institutions’ systems 2.

Investor Communication Solutions

The larger segment, Investor Communication Solutions, produced $5,560.8 million of fiscal 2026 revenues, about 74 percent of the company total 3. Its core is proxy work: handling the delivery of voting materials to investors who hold shares through brokers, and collecting their votes 3.

By product line, recurring revenue grew 12 percent in Regulatory, 4 percent in Data-Driven Fund Solutions, 8 percent in Issuer and 5 percent in Customer communications in fiscal 2026 3. Customer Communications prints and mails statements and bills through six automated production facilities in North America 3.

Distribution revenues, mainly the mailing of proxy and other materials, were $2,250.6 million, up 9 percent, with postage rate increases of about $123 million behind much of the rise 3. Event-driven revenues, which depend on special votes and corporate events, were $348.1 million 3.

Global Technology and Operations

The smaller segment supplies trading, settlement and record-keeping technology to banks, brokers and asset managers, and made $1,916.0 million of fiscal 2026 revenues, about 26 percent of the total 3. Its technology processes trades, clearance and settlement in more than 100 markets 3.

Capital markets recurring revenue rose 6 percent and wealth and investment management rose 11 percent in fiscal 2026, partly from the Kyndryl business and CQG purchases 3. Pre-tax margin in the segment rose to 15.5 percent from 11.3 percent 3.

Tokenization and digital assets

Broadridge’s Distributed Ledger Repo platform settles short-term loans backed by securities on a blockchain, and the company said it processed an average of $359 billion a day in September 2026, with volumes totaling $7.5 trillion 11. The company calls it the world’s largest institutional platform for settling tokenized real assets 11.

Its Canton work earned $16.5 million of revenue in fiscal 2026, one point of capital markets growth, and $1.4 million in the September 2026 quarter against $3.7 million a year before 32.

People, places and rivals

Broadridge had about 16,000 full-time associates in 28 countries on 30 June 2026 3. It operates from about 50 facilities, leasing 10 production sites that total 2.2 million square feet for the communications segment 3.

Tim Gokey is chief executive, Ashima Ghei is chief financial officer, and Eileen Murray chairs a board that grew to 10 members when Todd Diganci, formerly finance chief of FINRA, joined on 1 August 2026 198. The company moved its headquarters to 605 Third Avenue, New York, on 29 September 2026 9.

The annual report names no rival firm, listing instead groups of competitors: independent proxy providers, transfer agents, proxy advisers, financial printers, trade-processing vendors and clients’ own in-house operations 3.

Problems and open matters

The annual report says there are no material pending legal proceedings beyond ordinary routine litigation 3. First-quarter results carried restructuring costs for severance tied in part to AI and productivity initiatives 1.

Closed sales, the yearly recurring revenue the company expects from new contracts, were $36 million in the quarter, up 10 percent 1. The proposed Regulation E-Delivery rule is the main outside change the filing flags 3.

The umbrella, in words

Brands include ProxyEdge for institutional voting, ShareLink for annual meeting services, Virtual Shareholder Meeting, the Communications Cloud for customer messages, and DLR and DLx for tokenized markets 3.

Exhibit 21 lists wholly or mostly owned subsidiaries such as Broadridge Investor Communication Solutions, Inc., Fi360, Inc., AdvisorTarget, Matrix Trust Company and Broadridge Securities Processing Solutions, LLC 6. It lists three less-than-wholly-owned names: Broadridge owns 91.85 percent of Broadridge Fixed Income Liquidity Solutions, 50.0 percent of ICJ Inc. and 40.0 percent of LiquidX 6.

Broadridge owns pre-funded warrants in Canton Strategic Holdings, Inc., which it received in fiscal 2026 for 342 million Canton Coins; it has exercised some into shares 3.

By contract, Kyndryl runs parts of Broadridge’s computer infrastructure under an agreement extended to 31 December 2031, with fixed minimum commitments of $385.1 million 3.

Holders above 5 percent, as the proxy statement lists them, are BlackRock at 8.55 percent, Vanguard Capital Management at 7.70 percent and Vanguard Portfolio Management at 5.61 percent 7.

For fiscal 2027 the company expects recurring revenue growth of 6 to 8 percent at constant currency and adjusted earnings per share growth of 8 to 12 percent 1. It expects an adjusted operating margin of about 21 percent 1. It also guides to closed sales of $290 million to $330 million 1.

The company said its Investor Day on 8 December 2026 in New York will update its strategy and give new three-year financial objectives 1. The annual meeting is on 10 November 2026, with votes on ten director nominees, executive pay and the auditor 7.

On Regulation E-Delivery, Broadridge said it expects a modest drop in recurring revenue growth over two to three years if clients adopt it, largely offset by new solutions 3. It also expects lower distribution revenues, which should lift margins 3.

On 3 August 2026 the board authorized a share repurchase program of up to $1.5 billion with no expiration date 2. The company also said it is focused on launching non-repo solutions on its DLx platform 3.